[This report first appeared in 2006 and was refreshed on October 13, 2025 to maintain accuracy.
**Fortress to Acquire Centex Home Equity Company (CHEC)**
On March 30, 2006 it was announced that Fortress Investment Group would acquire Centex Home Equity Company (CHEC) from Centex Corporation. The deal signalled a strategic expansion for Fortress in the subprime mortgage servicing market. Following the acquisition, CHEC operated as Nationstar Mortgage (now Mr. Cooper). The purchase allowed Centex to exit the mortgage business and refocus on homebuilding.
### Transaction highlights
– **Date:** March 30, 2006.
– **Parties:** Fortress Investment Group (buyer) and Centex Corporation (seller).
– **Asset:** Centex Home Equity Company, a subprime mortgage originator and servicer.
– **Post‑acquisition:** CHEC rebranded as Nationstar Mortgage (later known as Mr. Cooper).
### Related resources
– [Mortgage Fraud & Enforcement Index](/mortgage-fraud-enforcement-index/)
– [Mortgage Graveyard](/mortgage-graveyard/)
– [Subprime Mortgage Crisis Analysis 2007](/subprime-mortgage-crisis-analysis-2007/)
– [Countrywide Subprime Exposure](/countrywide-subprime-exposure/)
