Nationstar Mortgage Holdings Inc. (NYSE:NSM) ("Nationstar" or the "Company") today announced hiring leading technology executive Kal Raman as Chief Executive Officer of Solutionstar, a wholly owned subsidiary of Nationstar that provides technology-based real estate services designed to make buying and selling a home easier and more transparent for consumers and real estate professionals. Mr. Raman boasts more than two decades of experience in technology and retail businesses and has an extensive record of leadership at innovative, consumer-focused technology companies, including Groupon, eBay and Amazon. "We see a tremendous opportunity to use technology to make the real estate experience easier and more streamlined for homebuyers, home sellers and real estate professionals across the country. Kal has a long record of success leveraging technology and innovation to deliver a high-quality customer experience, and we're thrilled that his expertise will now help Solutionstar bring that kind of innovation to the real estate industry," said Nationstar Chief Executive Officer Jay Bray. "Kal's appointment is a natural next step in Solutionstar's growth, and his proven technology, e-commerce and operational experience will be a critical asset to the Solutionstar team as it capitalizes on these opportunities and continues its growth as a national leader in real estate technology." As CEO of Solutionstar, Mr. Raman will oversee all activities at the company, including integrating Real Estate Digital ("RED") - a leading real estate data aggregation company Solutionstar acquired this past May - into its existing services and assembling other technology innovators and leaders to advance the company's broader effort to deliver comprehensive, end-to-end online services for homebuyers, home sellers and real estate professionals. Mr. Raman will be based in the Seattle area, a major technology hub where the company intends to open a new office. "For many Americans, buying or selling a home is the biggest financial decision they will make, and Solutionstar is using its technological expertise to make that process more transparent, convenient and affordable for real estate professionals and consumers alike. Acquiring RED was an important step toward elevating Solutionstar as the nation's leading real estate innovator, and I'm energized by the opportunity this creates to develop Solutionstar into a true technology company," said Mr. Raman. "Solutionstar is making a significant, sustained investment in innovation to make real estate services simpler and more accessible. In the coming weeks and months, we look forward to unveiling new technology products and services to better connect consumers and real estate professionals - and, ultimately, to deliver a truly integrated, comprehensive online real estate solution."
Mr. Raman most recently served as Chief Executive Officer of Groupon's Asia Pacific region; before that, he served as the company's Chief Operating Officer. Prior to his tenure at Groupon, Mr. Raman served as Vice President of Global Fulfillment at eBay and, before that, as CEO of GlobalScholar, a leader in enterprise software to K-12 public schools. As Senior Vice President at Amazon, Mr. Raman led the company's retail technology and marketing units and was responsible for driving the company's global non-media business for retailers and sellers. Mr. Raman was previously CEO of drugstore.com and held multiple management roles at Wal-Mart.About Nationstar Based in Lewisville, Texas, Nationstar earns fees through the delivery of quality servicing, origination and transaction based services related principally to single-family residences throughout the United States. Additional corporate information is available on the investors tab at www.nationstarmtg.com.