Xome operator Nationstar acquired by WMIH Corp.

Former parent company of the defunct Washington Mutual merges with mortgage servicer, combined companies will be traded on the NASDAQ under the ticker 'WMIH'

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Inman Connect San Francisco, Jul 16-20, 2018

WMIH Corp. has acquired a majority interest in Nationstar, the mortgage servicing company that owns real estate technology platform Xome and recently rebranded its loan origination operations to "Mr. Cooper." Nationstar says operations will continue as "normal," meaning the company will retain its name, headquarters in Dallas, senior leadership team and all 7,000 employees. As a result of the merger, Nationstar shareholders will get $1.2 billion in cash from WMIH and $7.02 million in shares from the combined company, which will be traded on the NASDAQ under "WMIH." Nationstar CEO and chairman Jay Bray said the merger will not only create value for shareholders in the near and long-term, but it will also bolster Nationstar's efforts to scale Mr. Cooper. "I am passionately committed to continuing and accelerating our growth and investment as a leader in our industry, leveraging our best-in-class integrated servicing and originations platform," said Bray in a press release."The ...