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The shareholders of Nationstar Mortgage Holdings and WMIH Corp. each voted to approve a $1.9 billion acquisition plan that will see the parent company of nonbank lender and servicer Mr. Cooper combine with the successor to S&L and subprime mortgage lender Washington Mutual.
The Tennessee bank said it has bought Professional Mortgage in Greenville, S.C., which services about $1.1 billion of commercial mortgage loans for 23 correspondent life company lenders.
Blue Water provides valuation and hedging services for mortgage servicing rights, helping mortgage market participants manage risk and optimize portfolio performance.
NYCB CEO Joseph Otting is overhauling the company’s balance sheet, as concerns about its outsized exposure to commercial real estate in New York weighed down the stock earlier this year.