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November 16, 2007
Nationstar Exits Subprime
Subprime lender Nationstar Mortgage says it is no longer funding A-minus to D loans. In March 2006, a unit of Fortress Investment Group agreed to purchase Centex Home Equity Co., Dallas, in a deal valued at about $575 million. After the sale, Fortress changed CHEC's name to Nationstar. At the time of the deal, CHEC was the nation's 28th-largest subprime lender.
Posted by S. Germain at November 16, 2007 08:32 AM