Dallas-based Nationstar Mortgage LLC, a nonprime lender, has completed its acquisition of the origination platform of Parsippany, New Jersey-based Champion Mortgage, a part of Cleveland-based KeyCorp.

While the transaction does not include Champion Mortgage’s $2 billion loan portfolio, which was previously sold to HSBC Holdings, Plc., the purchase agreement will transfer 250 Champion Mortgage employees and four call centers under the umbrella of Nationstar.
“Champion Mortgage has a rich heritage and an excellent reputation as a premier mortgage lender in each of the markets it serves,” said Anthony H. Barone, president and chief executive officer of Nationstar Mortgage. “We will continue Champion’s long-standing history, brand and commitment to their customers, and we are excited by the addition of Champion to the Nationstar Mortgage team.”