Nationstar Mortgage in Acquisition of Greenlight Financial Services’ Mortgage Origination Business

Cleary Gottlieb is representing Nationstar Mortgage in its acquisition of the mortgage origination business of Greenlight Financial Services, a leading direct-to-consumer mortgage loan originator. Nationstar will acquire the mortgage origination business of Greenlight for up to $75 million in cash, subject to certain contingencies. The deal signed on May 6, 2013 and is expected to close in the second quarter of 2013.

Based in Lewisville, Texas, Nationstar offers servicing, origination, and real estate services to financial institutions and consumers. Nationstar is one of the largest servicers in the United States with a servicing portfolio of $312 billion in unpaid principal balance. Nationstar’s integrated loan origination business mitigates servicing portfolio run-off and improves credit performance for loan investors. Its Solutionstar business unit offers asset management, settlement, and processing services. Nationstar currently employs over 5,400 people.