KB Home (KBH) Forms New Mortgage Outfit with Nationstar (NSM)
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Price: $54.46 -3.44%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 1.7%
EPS Growth %: -44.7%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 1.7%
EPS Growth %: -44.7%
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KB Home (NYSE: KBH) 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.
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.
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.
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