Nationstar Mortgage LLC hopes to pull in $400 million from an initial public offering.
The details were disclosed in filings Monday with the Securities and Exchange Commission. The filings were made as part of the 17-year-old company’s planned $400 million IPO and its planned exchange of $250 million in notes.
Last year’s residential originations were $2.8 billion, climbing from $1.5 billion in 2009, the filings indicated. Most of Nationstar’s originations are sold within 30 days of funding.
The Lewisville, Texas-based company’s mortgage servicing portfolio was 389,000 loans for $64.2 billion as of Dec. 31, 2010, up from $33.7 billion at the end of 2009. The portfolio has ballooned from $21.4 billion as of Dec. 31, 2008.
Headcount at Nationstar, which operated as Nova Credit Corp. until 1997, finished last month at 2,176 employees.
The subsidiary of Fortress had a $10 million loss in 2010, though that was better than the $81 million loss a year earlier and a $158 million loss two years earlier.
Nationstar President and Chief Executive Officer Anthony H. Barone earned $10.9 million in 2010, including $424,350 in salary compensation and $9.6 million in stock awards.
Earning even more than Barone was Chief Financial Officer Jay Bray, who raked in $11.1 million including a base of $320,000 and $9.9 million in stock awards.
