Nationstar Mortgage Holdings, the nation’s 19th largest servicer of residential loans and a top subservicer for Fannie Mae, late Monday filed registration papers with the Securities and Exchange Commission (SEC), declaring its intention to go public.
The privately held firm, which is controlled by hedge fund manager Fortress Investments, hopes to raise $400 million.
Nationstar is the second largest mortgage lender/servicer to file for an IPO this year. (The other is AllyFinancial, a bank holding company.)
Using both retail and wholesale outlets, the company funded $2.8 billion in home mortgages last year, and ranks about 40th nationwide, according to figures compiled by National Mortgage News and the Quarterly Data Report.
The firm said in its S-1 filing with the SEC, “We intend to continue to utilize our established and scalable servicing platform to grow our servicing operations organically through our existing client base. We believe that we will continue to benefit from our strong relationships with the GSEs and other third party investors, which we believe will enable us to acquire additional servicing rights and enter into additional subservicing contracts in order to grow our business.”
The Lewisville, Texas-based company employs roughly 2,200 workers.