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JPMorgan fined $200M for employees' use of WhatsApp, personal devices to discuss business matters
********************
Oh, ok, so stealing WAMU is ok. However, employees just can't talk about these types of things with their personal phones, etc.. I got it now..
*****************
JPMorgan fined $200M for employees' use of WhatsApp, personal devices to discuss business matters
Published 5 hours ago
A compliance consultant will also review JPMorgan's policies and procedures relating to employee communications and make recommendations
JPMorgan Chase has agreed to pay $200 million in fines imposed by the Securities and Exchange Commission and Commodity Futures Trading Commission for failing to keep track of its employees' personal communications about business matters.
From at least January 2018 through November 2020, JPMorgan employees, including managing directors and other senior supervisors, allegedly exchanged thousands of messages through text, WhatsApp and personal email accounts about securities matters, including investment strategy, discussions of client meetings and communications about market color, analysis, activity trends or events, according to the SEC.
The agency noted that no record of the communications were preserved by the investment bank as required under federal securities laws and that JPMorgan admitted its failures were companywide and that its practices were not hidden.
"JPMorgan received and responded to commission subpoenas for documents and records requests in numerous commission investigations during the time period that it failed to maintain required securities records relating to the business," the SEC's order states. "In responding to these subpoenas and requests, JPMorgan frequently did not search for records contained on the personal devices of JPMorgan employees relevant to those inquiries.
"JPMorgan’s record-keeping failures impacted the commission’s ability to carry out its regulatory functions and investigate potential violations of the federal securities laws across these investigations"
As a result, JPMorgan will pay $125 million to resolve the SEC's charges and has agreed to hire a compliance consultant to review its policies and procedures regarding employee communications and make recommendations for improvements. It will also pay $75 million to the CFTC to settle charges from its separate investigation into the matter.
Prior to the SEC and CFTC's actions, the investment bank enhanced its policies and procedures and increased training relating to the use of approved communications methods, including personal devices. It also made significant changes to the technology available to employees. A JPMorgan spokesperson declined to comment.
https://www.foxbusiness.com/financials/jpmorgan-200m-fine-sec-cftc-employee-communications
lodas, you're wrong again. You keep forgetting the Underwriters wanted to be in Class 19... if nothing is coming back, then for what reason did they do this? Duh.
ND9
A polite F.D.I.C. meeting is followed by scathing statements.
Dec. 15, 2021, 10:28 p.m.
A dispute believed by some experts to be part of an effort by Democrats to unseat the chairwoman of the Federal Deposit Insurance Corporation board, a Trump appointee, spilled into public view last week.
By Lananh Nguyen
A partisan fight atop a sleepy bank regulator intensified on Tuesday, with Democratic members of the Federal Deposit Insurance Corporation board saying its Republican chairwoman was subverting the majority’s will.
Rohit Chopra, a member of the F.D.I.C. board and the new director of the Consumer Financial Protection Bureau, complained that the chairwoman, Jelena McWilliams — a Trump appointee — had refused to recognize their attempts to review rules about bank mergers.
“This approach to governance is unsafe and unsound,” he said in a statement. “It is also an attack on the rule of law.”
At a virtual meeting earlier Tuesday, Ms. McWilliams, the board’s lone Republican, struck down Mr. Chopra’s request to record in the minutes a vote on the review. Ms. McWilliams said the regulator’s general counsel had ruled the vote, which had been taken earlier by the Democratic members, to be invalid.
The dispute — believed by some experts to be part of an effort by Democrats to unseat Ms. McWilliams — spilled into public view last week.
Mr. Chopra and two other Democrats on the board — Martin J. Gruenberg, a longtime member, and Michael J. Hsu, the acting comptroller of the currency — voted over email last week to request public comment on the issue of bank mergers. A statement on the request was posted not on the F.D.I.C.’s site but on the site of the consumer bureau that Mr. Chopra leads. The F.D.I.C. soon released a statement saying it had not approved such a request for comment.
Now the Democrats on the board of the F.D.I.C., which is chiefly known for backing consumer deposits but has a hand in overseeing all of the country’s banks, contend that Ms. McWilliams is stonewalling attempts by the majority to set policy.
The regulators spoke politely to one another during the virtual meeting on Tuesday, but Mr. Chopra released a scathing statement afterward, calling the general counsel’s decision “legally dubious.”
In his own statement, Mr. Hsu said he believed “the views of the majority of the F.D.I.C. board members should influence the agency’s agenda and actions.”
A spokeswoman at the F.D.I.C. did not respond to messages seeking comment.
Ms. McWilliams has mostly adhered to Republican ideological lines during her tenure. That makes her something of a barrier to President Biden’s agenda, which involves shifting the federal government’s stance on big issues like climate change and income inequality.
The F.D.I.C. focuses closely on the smallest banks. It has a five-member board that typically allows input from both political parties. A fully seated board will generally consist of two Republicans and two Democrats serving six-year terms and a chair appointed for a five-year term. One seat is currently empty.
The agency is just one of several regulators that play a regulatory role in the financial industry. Others include the Federal Reserve, the Office of the Comptroller of the Currency (overseen, for now, by Mr. Hsu) and the Consumer Financial Protection Bureau (overseen by Mr. Chopra).
Banking industry groups have urged calm and transparency. The American Bankers Association wrote to the board on Monday emphasizing the importance of an “orderly, transparent policymaking process.”
The head of the Consumer Bankers Association, another industry group, echoed that sentiment in an opinion essay in The Hill on Monday.
“Americans expect and deserve regulators to operate with transparency and instill certainty, especially for those tasked with overseeing financial institutions,” the group’s chief, Richard Hunt, wrote. “The implications of potentially unstable leadership at the F.D.I.C. and other prudential regulators are especially significant.”
https://www.nytimes.com/live/2021/12/14/business/news-business-stock-market
A polite F.D.I.C. meeting is followed by scathing statements.
Dec. 15, 2021, 10:28 p.m. ET
Daily Business Briefing
A dispute believed by some experts to be part of an effort by Democrats to unseat the chairwoman of the Federal Deposit Insurance Corporation board, a Trump appointee, spilled into public view last week.
By Lananh Nguyen
A partisan fight atop a sleepy bank regulator intensified on Tuesday, with Democratic members of the Federal Deposit Insurance Corporation board saying its Republican chairwoman was subverting the majority’s will.
Rohit Chopra, a member of the F.D.I.C. board and the new director of the Consumer Financial Protection Bureau, complained that the chairwoman, Jelena McWilliams — a Trump appointee — had refused to recognize their attempts to review rules about bank mergers.
“This approach to governance is unsafe and unsound,” he said in a statement. “It is also an attack on the rule of law.”
At a virtual meeting earlier Tuesday, Ms. McWilliams, the board’s lone Republican, struck down Mr. Chopra’s request to record in the minutes a vote on the review. Ms. McWilliams said the regulator’s general counsel had ruled the vote, which had been taken earlier by the Democratic members, to be invalid.
The dispute — believed by some experts to be part of an effort by Democrats to unseat Ms. McWilliams — spilled into public view last week.
Mr. Chopra and two other Democrats on the board — Martin J. Gruenberg, a longtime member, and Michael J. Hsu, the acting comptroller of the currency — voted over email last week to request public comment on the issue of bank mergers. A statement on the request was posted not on the F.D.I.C.’s site but on the site of the consumer bureau that Mr. Chopra leads. The F.D.I.C. soon released a statement saying it had not approved such a request for comment.
Now the Democrats on the board of the F.D.I.C., which is chiefly known for backing consumer deposits but has a hand in overseeing all of the country’s banks, contend that Ms. McWilliams is stonewalling attempts by the majority to set policy.
The regulators spoke politely to one another during the virtual meeting on Tuesday, but Mr. Chopra released a scathing statement afterward, calling the general counsel’s decision “legally dubious.”
In his own statement, Mr. Hsu said he believed “the views of the majority of the F.D.I.C. board members should influence the agency’s agenda and actions.”
A spokeswoman at the F.D.I.C. did not respond to messages seeking comment.
Ms. McWilliams has mostly adhered to Republican ideological lines during her tenure. That makes her something of a barrier to President Biden’s agenda, which involves shifting the federal government’s stance on big issues like climate change and income inequality.
The F.D.I.C. focuses closely on the smallest banks. It has a five-member board that typically allows input from both political parties. A fully seated board will generally consist of two Republicans and two Democrats serving six-year terms and a chair appointed for a five-year term. One seat is currently empty.
The agency is just one of several regulators that play a regulatory role in the financial industry. Others include the Federal Reserve, the Office of the Comptroller of the Currency (overseen, for now, by Mr. Hsu) and the Consumer Financial Protection Bureau (overseen by Mr. Chopra).
Banking industry groups have urged calm and transparency. The American Bankers Association wrote to the board on Monday emphasizing the importance of an “orderly, transparent policymaking process.”
The head of the Consumer Bankers Association, another industry group, echoed that sentiment in an opinion essay in The Hill on Monday.
“Americans expect and deserve regulators to operate with transparency and instill certainty, especially for those tasked with overseeing financial institutions,” the group’s chief, Richard Hunt, wrote. “The implications of potentially unstable leadership at the F.D.I.C. and other prudential regulators are especially significant.”
https://www.nytimes.com/live/2021/12/14/business/news-business-stock-market
only in his dreams.
newflow, you probably already know this, but that Paladin SEC filing that you posted, has a registered phone number, that matches the phone number of Charles Smith below.
JMHO
ND9
CHARLES EDWARD SMITH
WMI LIQUIDATING TRUST
Address: Po Box 939, Edmonds, WA 98020-0939
Telephone: (206) 661-2310
https://opengovny.com/attorney/2877561
Large Green, I saw that. However, did you see the address? It's somebody's house north of San Antonio. Seriously, that is the address for several types of businesses, that will develop into something similar to old WaMu, Inc? Out of somebody's home?
Hard to believe but I guess we'll see.
JMHO
ND9
Large Green, you lost me. What do you mean by saying, "so now we have an acquisition firm?" When I go to google maps, and search for the address below, it is a house, north of San Antonio. The phone number looks like somebody's cell, with state of Washington area code (206).
On the surface, this Paladin Acquisition Corp looks tiny, run out of somebody's house.. Hard to believe they could be involved in a deal with COOP and or WAMU.
JMHO.
thanks,
ND9
31571 SKY BLUE RIDGE
FAIR OAKS RANCH, Tx
78015
I believe erhc still also has the rights/option for 15% of two eez blocks…. Plus some future consideration, should oil be found, for kosmos eez block 11 sale, now shell.
NOTICE OF OMNIBUS TRANSFER OF CLAIMS PURSUANT TO FED. R. BANKR. P. 3001(e)(2)
UNITED STATES BANKRUPTCY COURT FOR THE SOUTHERN DISTRICT OF NEW YORK In re: LEHMAN BROTHERS HOLDINGS INC., et al.Debtors. Chapter 11 Case No.: 08-13555 (SCC) (Jointly Administered) NOTICE OF OMNIBUS TRANSFER OF CLAIMS PURSUANT TO FED. R. BANKR. P. 3001(e)(2)
To: Wilmington Trust Company, Assignor/Transferor 1100 N Market Street Wilmington, DE 19890 Attn: Adam Scozzafava
Your claims relating to Structured Asset Securities Corporation, Mortgage Pass Through Certificates Series 2005-11H (the “Trust”), as set forth in claim number 710315 (whether against Lehman Brothers Holdings Inc., Structured Asset Securities Corporation or otherwise) (the “Claims”), in the bankruptcy proceedings in the United States Bankruptcy Court for the Southern District of New York, Case No. 08-13555 (SCC), or any other court with jurisdiction over such proceedings, have been transferred to Nationstar Mortgage LLC, Assignee/Transferee (but solely to the extent of the portion of the Claims relating to the Trust). No action is required if you do not object to the transfer of your Claims. If you object to the transfer, within twenty-one (21) days of the date of this notice, you must file a written objection and provide written notice to the Assignee/Transferee:
Mortgage LLC, Assignee/Transferee 8740 Lucent Boulevard, Suite 600 Highlands Ranch, Colorado 80129 Attention: Michele Olds
08-13555-scc Doc 61140 Filed 05/27/21 Entered 05/27/21 12:04:18 Main DocumentPg 1 of 4
Evidence of Transfer:
Wilmington Trust Company, not individually but solely as trustee of the Trust (as defined below), its successors and assigns, (Collectively, "Assignor"), has hereby absolutely and unconditionally sold, conveyed, transferred, and assigned to Nationstar Mortgage LLC, its successors and assigns (collectively, "Assignee"), its claims relating to Structured Asset Securities Corporation Mortgage Pass Through Certificates Series 2005-11H..........
https://bankrupt11.com/dockets/documents/e_lbh61140/
Mr. Cooper Group - India Team Overview
India Team Overview
The dream of home ownership is an idea that goes beyond small towns and big cities. It transcends borders. This led to the inception of Mr. Cooper Group, India. Built in 2015 Mr. Cooper Group, India was created around the simple thought that everyone deserves a unique and satisfying homebuying experience. We do that by making sure all transaction go smoothly, using our leading-edge technology platforms and increasing efficiency across various business operations. Guided by our three core values, we have delivered exceptional results for business operations in Originations, Servicing, Xome and corporate functions.
Growing Better, Every Day
At Mr. Cooper Group, India, we strive to make our office a place people love coming to work every day. In 2019, we became a certified Great Place to Work in India. Come work for us, and see for yourself.
Benefits and Culture
Our people are the reason we continue to grow and succeed. That’s why we don’t just believe in hiring the best talent. We believe in working with the best people, so we can build bonds and a stronger community. We are invested in our team, and their future. Comprehensive medical benefits Maternity/Paternity leaves, Higher education reimbursement, Learning assignments, Competitive relocation benefits, Wellness programs
Corporate Social Responsibility
At Mr. Cooper, India we are committed to the world around us. This is why have embraced a corporate social responsibility policy. By partnering with foundations like Agaram Foundation and Maatram Foundation we support the education and offer internship opportunities for children of families that are dealing with economic challenges and hardships.
University and Talent Development
Mr. Cooper Group, India has been hiring graduates from colleges since 2015 and have brought on extraordinary talent across diverse backgrounds. The two main streams of education that find place in our campus outreach are Engineering and Arts & Science. We are proud to be an equal opportunity workplace. We don’t unlawfully discriminate on the basis of gender identity or expression, race, ethnicity, religion, national origin, age, sex, marital status, physical or mental disability.
https://careers.mrcooper.com/pages/india#india-team-overview
Mr. Cooper Group - Statement of Changes in Beneficial Ownership 11/24/2021
HOME
LEADERSHIP
INVESTORS
CULTURE
PRESS
CONTACT US
SEARCH …
OVERVIEW GOVERNANCE FINANCIALS EVENTS AND PRESENTATIONS SHAREHOLDER INFORMATION IR RESOURCES
DOCUMENT DETAILS
Document Details
Filing Type
4
Description Statement of Changes in Beneficial Ownership
Filing Date 11/24/2021
https://investors.mrcoopergroup.com/financials/sec-filings/document-details/default.aspx?FilingId=15382136
If the WMI Preferred Managing Sub value appears low and is missing some of the funds, maybe they used the money for something else, like AZCowboy believes....... Well, they used the cash because old preferred legacy holders are going to get cash and new preferred stock...
I don't need all cash... I will take stock too.... No problem...
JMHO
ND9
AZCowboy, but I can't get over the fact, that the Underwriters wanted in Class 19 (i.e., P's)... There is no way, they would want to get in Class 19, if in fact, the commons (i.e., Class 22) were going to do better... This is what they do for a living. They know where the money is...
Are you saying the Underwriters made a mistake in getting in class 19? Hard to belive..
ND9
WMIH’s Board accepted the resignation of Thomas L. Fairfield as Chief Operating Officer
https://www.sec.gov/Archives/edgar/data/933136/000119312518233630/d578017d8k.htm
Mr. Fairfield also served as president and chief operating officer of WMIH Corp., a NASDAQ listed company focused on identifying and consummating strategic investment transactions from May 2015 to July 2018
https://channelvisionmag.com/wayside-appoints-fairfield-to-board-of-directors/
AZCowboy, thank you very much for that explanation, your thoughts, time, and all that you do. I will keep praying we (I.e., our preferred stock) don’t get screwed.
Thanks,https://investorshub.advfn.com/secure/post_reply.aspx?message_id=166818660
ND9
AZCowboy, thanks for that explanation. However, does it make sense to you? How could somebody (e.g., WMIH, COOP, etc) use the money from our preferred sub, money that should go to shareholders, use it for something else, and not pay it back? The rich owners of the preferred stock (i.e., Hedge Funds, Underwriters, etc) wouldn't let that happen... Unless we preferred holders were to be paid back in stock or some other way... I don't care if they pay us in cash or preferred stock.. as long as we get paid...
However, back to my question... You seem to be implying that us preferred shareholders are going to get screwed, because they used the money from preferred sub and did not replace it.. So how do you answer my question? Do you really believe, as Boris said, the Hedge Funds and Underwriters are stupid, and would allow this?
thanks,
ND9
Azcowboy, what do you mean, “whatever is left over” in wmih preferred? I dont see how anybody can steal from the rich preferred shareholders and us. The hedge funds wouldn’t allow that. Could you clarify please?
Thanks
Nd9
Boris, whatever happened to you lawsuit threat from this past April?
Nd9
Or maybe Peter was too busy talking with Qatar Energies (formerly Qatar petroleum) about moving into erhc’s JDZ and eez blocks.
Etrade and Morgan Stanley - email reminder came out today.
Now that E*TRADE and Morgan Stanley have joined forces, we are combining our banking services and are writing you with an important reminder about the related upcoming changes for your E*TRADE brokerage account(s).
On or after January 1, 2022, both E*TRADE Bank and E*TRADE Savings Bank will merge into Morgan Stanley Private Bank, National Association (“Merger”). The exact date of the Merger (“Merger Date”) will be announced later this year. Upon Merger completion, Morgan Stanley Private Bank, National Association (“Morgan Stanley Private Bank”) will become the resulting bank
I finally got through to Etrade today... I like Etrade but their wait times, for customer service, are getting worse...
Anyway, the gentleman who helped me said as far as he can see, nothing has changed with my escrow line items.... however, he really couldn't help determine why on my side, when I click on links, I don't see empty data fields like before, but get the message, "couldn't find symbol 939ESC992."
He went on to basically say that they will be there until either a settlement is paid out or until they are told they are worthless, and to remove them from acct
ND9..
It's not if they are showing up... Mine are showing up also... But when I click on the link (939ESC992), I get the message, "We couldn't find they symbol 939ESC992...
In the past, when I clicked on link, it would show me 939ESC992, March 2012, buy, sell, dividend, etc, etc.. It would show empty fields of data...
So this is different...
ND9
Usually, when I click on mine, it will have the buy, sell, dividend, number of shares, and name of escrow acct....... so this is the first time, when I click on link, it says they can't find it...
I was just on hold 50 minutes with Etrade... I gave up.. Will call again Monday...
ND9
When I go into my Etrade Portfolio and click on my escrows, I get the message, "We couldn't find the symbol '939ESC992'." Same for 939ESC84.
Interesting, first time this has happened... Anybody else getting this message now?
thanks,
ND9
11/4/2021 Bank listing for Notice of Termination of Receiverships
Notice of Termination of Receiverships
A Notice by the Federal Deposit Insurance Corporation on 11/04/2021
DOCUMENT DETAILS
Printed version:
PDF
Publication Date:
11/04/2021
Agency:
Federal Deposit Insurance Corporation
Document Type:
Notice
Document Citation:
86 FR 60815
Page:
60815-60816 (2 pages)
Document Number:
2021-24058
DOCUMENT DETAILS
DOCUMENT STATISTICS
Page views:
28
as of 11/04/2021 at 2:15 pm EDT
DOCUMENT STATISTICS
PUBLISHED DOCUMENT
The Federal Deposit Insurance Corporation (FDIC or Receiver), as Receiver for each of the following insured depository institutions, was charged with the duty of winding up the affairs of the former institutions and liquidating all related assets. The Receiver has fulfilled its obligations and made all dividend distributions required by law.
Start Printed Page 60816
Expand Table
Notice of Termination of Receiverships
Fund Receivership name City State Termination date
10136 Bank USA, NA Phoenix AX 11/01/2021
10137 Community Bank of Lemont Lemont IL 11/01/2021
10138 North Houston Bank Houston TX 11/01/2021
10141 Citizens National Bank Teague TX 11/01/2021
10533 Resolute Bank Maumee OH 11/01/2021
The Receiver has further irrevocably authorized and appointed FDIC-Corporate as its attorney-in-fact to execute and file any and all documents that may be required to be executed by the Receiver which FDIC-Corporate, in its sole discretion, deems necessary, including but not limited to releases, discharges, satisfactions, endorsements, assignments, and deeds. Effective on the termination dates listed above, the Receiverships have been terminated, the Receiver has been discharged, and the Receiverships have ceased to exist as legal entities.
(Authority: 12 U.S.C. 1819)
Federal Deposit Insurance Corporation.
Dated at Washington, DC, on November 1, 2021.
James P. Sheesley,
Assistant Executive Secretary.
[FR Doc. 2021-24058 Filed 11-3-21; 8:45 am]
BILLING CODE 6714-01-P
https://www.federalregister.gov/documents/2021/11/04/2021-24058/notice-of-termination-of-receiverships
11/4/2021 Bank listing for Notice of Termination of Receiverships
Notice of Termination of Receiverships
A Notice by the Federal Deposit Insurance Corporation on 11/04/2021
DOCUMENT DETAILS
Printed version:
PDF
Publication Date:
11/04/2021
Agency:
Federal Deposit Insurance Corporation
Document Type:
Notice
Document Citation:
86 FR 60815
Page:
60815-60816 (2 pages)
Document Number:
2021-24058
DOCUMENT DETAILS
DOCUMENT STATISTICS
Page views:
28
as of 11/04/2021 at 2:15 pm EDT
DOCUMENT STATISTICS
PUBLISHED DOCUMENT
The Federal Deposit Insurance Corporation (FDIC or Receiver), as Receiver for each of the following insured depository institutions, was charged with the duty of winding up the affairs of the former institutions and liquidating all related assets. The Receiver has fulfilled its obligations and made all dividend distributions required by law.
Start Printed Page 60816
Expand Table
Notice of Termination of Receiverships
Fund Receivership name City State Termination date
10136 Bank USA, NA Phoenix AX 11/01/2021
10137 Community Bank of Lemont Lemont IL 11/01/2021
10138 North Houston Bank Houston TX 11/01/2021
10141 Citizens National Bank Teague TX 11/01/2021
10533 Resolute Bank Maumee OH 11/01/2021
The Receiver has further irrevocably authorized and appointed FDIC-Corporate as its attorney-in-fact to execute and file any and all documents that may be required to be executed by the Receiver which FDIC-Corporate, in its sole discretion, deems necessary, including but not limited to releases, discharges, satisfactions, endorsements, assignments, and deeds. Effective on the termination dates listed above, the Receiverships have been terminated, the Receiver has been discharged, and the Receiverships have ceased to exist as legal entities.
(Authority: 12 U.S.C. 1819)
Federal Deposit Insurance Corporation.
Dated at Washington, DC, on November 1, 2021.
James P. Sheesley,
Assistant Executive Secretary.
[FR Doc. 2021-24058 Filed 11-3-21; 8:45 am]
BILLING CODE 6714-01-P
https://www.federalregister.gov/documents/2021/11/04/2021-24058/notice-of-termination-of-receiverships
Jefferies Real Estate Finance & Technology Conference
Tuesday, November 16, 2021
https://investors.mrcoopergroup.com/events-and-presentations/events/default.aspx
Thanks ron_66271. Great hearing from you again.
ND9
Nationstar Mortgage Completes Acquisition of Servicing Assets of Aurora Bank
June 29, 2012 06:00 AM Eastern Daylight Time
LEWISVILLE, Texas--(BUSINESS WIRE)--Nationstar Mortgage Holdings Inc. (NYSE: NSM) announced today that Nationstar Mortgage LLC, an indirectly-held, wholly-owned subsidiary, has completed the acquisition of approximately $63.7 billion in residential mortgage servicing rights (“MSRs”), as measured by unpaid principal balance, and certain other assets from Aurora Bank FSB and its wholly owned subsidiary Aurora Loan Services LLC (collectively, “Aurora”), a subsidiary of Lehman Brothers Bancorp Inc. The composition of the Aurora portfolio is approximately 75% non-conforming loans in private label securitizations and approximately 25% conforming loans in GSE pools. With this acquisition Nationstar has grown its servicing book to approximately $177 billion, representing approximately one million customers. Nationstar funded a portion of the MSR purchase price with the proceeds of a 65% co-investment by Newcastle Investment Corp.
“The closing of the Aurora acquisition represents another exciting milestone in Nationstar’s history and adds to our track record of successfully integrating servicing portfolios”
“The closing of the Aurora acquisition represents another exciting milestone in Nationstar’s history and adds to our track record of successfully integrating servicing portfolios,” said Nationstar CEO Jay Bray. “We remain focused on our performance-based servicing model that provides exceptional service and the benefit of Nationstar’s extensive resources to help customers achieve and preserve homeownership.”
Keefe Bruyette & Woods, Inc. and Deutsche Bank Securities Inc. served as financial advisors to Aurora. Sidley Austin LLP served as legal advisor to Nationstar Mortgage LLC and Arnold & Porter LLP served as legal advisor to Aurora.
About Nationstar Mortgage Holdings Inc.
Based in Lewisville, Texas, Nationstar currently services approximately one million residential mortgages totaling approximately $177 billion in unpaid principal balance. In addition, Nationstar operates an integrated loan origination platform, enabling it to both mitigate its servicing portfolio run-off and improve credit performance for loan investors. Nationstar currently employs over 3,500 people, entirely based in the United States.
Forward-Looking Statements
This press release contains forward-looking statements that are based on assumptions and existing information and involve certain risks and uncertainties that could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Important factors that could affect these statements include, but are not limited to, the impact of the ongoing implementation of the Dodd-Frank Act on Nationstar’s business activities and practices, costs of operations and overall results of operations; the impact on Nationstar’s servicing practices of enforcement consent orders and agreements entered into by certain federal and state agencies against the largest mortgage servicers; increased legal proceedings and related costs; the continued deterioration of the residential mortgage market, increase in monthly payments on adjustable rate mortgage loans, adverse economic conditions, decrease in property values and increase in delinquencies and defaults; the deterioration of the market for reverse mortgages and increase in foreclosure rates for reverse mortgages; Nationstar’s ability to efficiently service higher risk loans; Nationstar’s ability to compete successfully in the mortgage loan servicing and mortgage loan originations industries; Nationstar’s ability to scale-up appropriately and integrate the assets, employees, operations and platforms related to the Transaction; Nationstar’s ability to obtain sufficient capital to meet its financing requirements, including, but not limited to, our ability to obtain advance finance facilities sufficient to fund the purchase price for this acquisition; changes to federal, state and local laws and regulations concerning loan servicing, loan origination, loan modification or the licensing of entities that engage in these activities; and the loss of Nationstar’s licenses. These factors and other risks and uncertainties are discussed in Nationstar’s annual report on Form 10-K for the fiscal year ended December 31, 2011 and its quarterly report on Form 10-Q for the fiscal quarter ended March 31, 2012, in each case as filed with the SEC, and any additional periodic reports Nationstar files with the SEC.
Contacts
Nationstar Mortgage Holdings Inc.
Marshall Murphy, 469-549-3005
https://www.businesswire.com/news/home/20120629005057/en/Nationstar-Mortgage-Completes-Acquisition-of-Servicing-Assets-of-Aurora-Bank
And kosmos kept block 5…. And kosmos producing oil each day in Equatorial Guinea..
Exactly right.
Large Green, I've had a Chase Visa card for many, many years... However, today, for the first time, I received an invitation to meet with a "J.P. Morgan Private Client Advisor."
Maybe nothing but it's good to dream :>)
thanks,
ND9
ItsMyOption, thanks for posting. ND9
AZCowboy, great to hear from you !!!
thanks,
ND9
I hope down the road, when I am 85 years old, I don't spend my remaining days on this earth, trying to convince people they are wrong about WAMU escrows (for example)... Look, I hope you live till you're 100.. So I am wishing you good health... However, surely, there is something better for you to do, than constantly nag people, telling us how wrong we are..
Shell and galp will be drilling in block #6 very soon…. Then everything could change..
Previously, RECAF said they were going to drill wells 3 and 4 at the end of 2021... I guess they changed their minds because press release belows say next drilling early 2022...
ND9
****
Shiraz Dhanani went on to state; "ReconAfrica has successfully drilled two important stratigraphic wells that clearly established the presence of a working petroleum system and conventional reservoirs. With the successful completion of this seismic program, ReconAfrica intends to commence a multi-well drilling campaign in early Q1, 2022, targeting seismically defined traps and conventional reservoirs already encountered in the stratigraphic wells."
When you make $25M a year, does it really matter?
Sure, magically, Nationstar can just decide they want to get bigger and become a TRILLION dollar company.... sure...