Champion Mortgage Becomes a Division of Nationstar Mortgage.DALLAS -- Nationstar Mortgage LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , headquartered in Dallas, announced today that it has completed the acquisition of the Parsippany, N.J.-based Champion Mortgage origination platform from KeyCorp (NYSE NYSE See: New York Stock Exchange : KEY). The transaction was previously announced December 1, 2006 and includes over 250 employees and four (4) call centers located in Parsippany, N.J., Marlborough, Mass, Melville, N.Y. and Marlton, N.J. The transaction does not include the $2 billion Champion Mortgage loan portfolio, which was sold separately to HSBC HSBC Hongkong and Shanghai Banking Corporation HSBC Humane Society of Broward County (Florida) HSBC Humane Society of Bay County (Bay County, Michigan) Holdings, Plc. Champion Mortgage will become an operating division of Nationstar Mortgage, maintaining its well-known brand name while leveraging the corporate support and structure of Nationstar Mortgage. The Champion executive management team will also remain in place under Mike Caccaiguida, executive vice president. Cacciaguida will report to Anthony (Tony) H. Barone, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Nationstar Mortgage. "Champion Mortgage has a rich heritage and an excellent reputation as a premier mortgage lender in each of the markets it serves," said Barone. "We will continue Champion's long-standing history, brand and commitment to their customers, and we are excited by the addition of Champion to the Nationstar Mortgage team." More information for current and prospective customers and clients is available at Champion Mortgage's Web site (www.Champion.com) or Nationstar Mortgage's Web site (www.NationstarMtg.com). Nationstar Mortgage currently ranks as the eighth largest retail non-prime lender in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and is licensed to do business in 47 states. Retail loans are originated through 70 branches nationwide and four centralized call centers located in Dallas, Phoenix, Denver and Cincinnati. The company also sources loans indirectly through mortgage loan brokers and bankers served by four wholesale service centers located in Laguna Hills La·gu·na Hills A city of southern California southeast of Santa Ana. Population: 33,600. , Calif., Dallas, West Palm Beach, and Milford, Conn. The company provides loan servicing Loan servicing is the process by which a mortgage bank or subservicing firm collects the timely payment of interest and principal from borrowers. The level of service varies depending on the type loan and the terms negotiated between the firm and the investor seeking their services. to its $10.5 billion loan portfolio in its Dallas based service center. About Nationstar Mortgage LLC Nationstar Mortgage LLC, headquartered in Dallas, Texas “Dallas” redirects here. For other uses, see Dallas (disambiguation). The City of Dallas (pronounced [ˈdæl.əs] or [ˈdæl. , is one of the nation's leading mortgage lenders offering non-prime mortgages and home loans directly to consumers and indirectly through mortgage brokers and bankers. With offices located throughout the country and a significant servicing portfolio, Nationstar Mortgage LLC is one of the largest retail non-prime mortgage originators. Since its inception in 1997, Nationstar Mortgage LLC, formerly known as Centex Home Equity, has experienced phenomenal growth by providing exceptional customer service and a wide range of competitive mortgage products. For more information, please visit: www.NationstarMtg.com. |
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