Mr Cooper Group Inc (COOP)

[Nightdaytrader]

Nationstar is Master Servicer of JPM RMBS Mortgage Trust 2019-7

Rating Action: Moody's assigns definitive ratings to Prime RMBS issued by J.P. Morgan Mortgage Trust 2019-7
27 Sep 2019

New York, September 27, 2019 -- Moody's Investors Service (Moody's) has assigned definitive ratings to 25 classes of residential mortgage-backed securities (RMBS) issued by J.P. Morgan Mortgage Trust (JPMMT) 2019-7. The ratings range from Aaa (sf) to B2 (sf).

The certificates are backed by 545 30-year, fully-amortizing fixed-rate mortgage loans with a total balance of $399,625,707 as of the September 1, 2019 cut-off date.
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Nationstar (master servicer): Nationstar is the master servicer for the transaction and provides oversight of the servicers. Nationstar is a mortgage servicer and lender formed in 1994 originally under the name Nova Credit Corporation that engages in servicing activities for itself as well as various third parties, primarily as a "high touch" servicer and originating primarily GSE-eligible residential mortgage loans. On August 21, 2017 Nationstar Mortgage became known as Mr. Cooper for its mortgage servicing and originations operations. We consider Nationstar's master servicing operation to be above average compared to its peers. Nationstar has strong reporting and remittance procedures and strong compliance and monitoring capabilities. The company's senior management team has on average more than 20 years of industry experience, which provides a solid base of knowledge and leadership. Nationstar's oversight encompasses loan administration, default administration, compliance, and cash management. Nationstar is an indirectly held, wholly owned subsidiary of Nationstar Mortgage Holdings Inc. We rate Nationstar at B2.

https://www.moodys.com/research/Moodys-assigns-definitive-ratings-to-Prime-RMBS-issued-by-JP--PR_411138