This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

KB Home And Nationstar To Form Mortgage Company

KB Home (NYSE: KBH), one of the nation’s largest and most recognized homebuilders, today announced that it has entered into an agreement with Nationstar Mortgage LLC, its current preferred mortgage lender and the principal operating subsidiary of Nationstar Mortgage Holdings Inc. (NYSE: NSM), to form Home Community Mortgage, LLC, a limited liability company that will offer an array of mortgage banking services to KB Home customers.

“Creating Home Community Mortgage with Nationstar is the natural progression of our successful alliance,” said Jeffrey Mezger, president and chief executive officer of KB Home. “As our relationship with Nationstar has evolved, we have been very pleased with the alignment of the values of our two companies, particularly on our shared focus on achieving world-class customer service. A quality, predictable mortgage process is an essential element of our Built to Order™ business model, and Nationstar’s performance as KB Home’s preferred mortgage lender has already resulted in more consistent execution.”

Nationstar Mortgage, which is also a leading mortgage servicer, offers FHA, VA, USDA, conventional conforming and nonconforming loan products directly to consumers. It is currently one of the largest non-bank mortgage servicers in the country, with a portfolio of approximately $425 billion and more than 2.5 million customers, on a current pro-forma basis, based on announced acquisitions.

Since entering into a marketing services agreement with KB Home last year, Nationstar loan officers have served KB Home homebuyers on-site in the builder’s communities coast-to-coast. Nationstar will continue to operate as KB Home’s preferred mortgage lender until Home Community Mortgage is deployed, which is expected in the latter part of this year.

"We are excited to partner with KB Home to form Home Community Mortgage to support home buyers in the largest purchase decision of their lives,” said Jay Bray, chief executive officer of Nationstar Mortgage. “This partnership showcases our ability to deliver creative solutions to one of the nation's premier homebuilders and our commitment to enhancing the home buying experience by providing accessible financing options to home buyers.”

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,024.06 +183.54 1.03%
S&P 500 2,108.29 +22.78 1.09%
NASDAQ 5,005.3910 +63.9670 1.29%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs