Fortress’s Nationstar to Raise $400 Million in Initial Offering
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Nationstar Mortgage Holdings Inc., a Lewisville, Texas-based home finance unit of Fortress Investment Group LLC, said it intends to raise as much as $400 million in an initial public offering.
The plans were filed today with the U.S. Securities and Exchange Commission. Nationstar serviced 389,000 mortgages with a face value of $64.2 billion as of Dec. 31, compared with $33.7 billion a year earlier, according to the filing. It was the 17th largest U.S. mortgage servicer at the end of the first quarter with $67 billion in loans, according to Guy Cecala, publisher of industry trade journal Inside Mortgage Finance.