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Acquisition of Nationstar Completed

The previously announced acquisition of Nationstar Mortgage Holdings Inc. by the former parent of failed Washington Mutual Bank has been completed.

In February, an agreement was announced for Seattle-based WMIH Corp. to acquire Nationstar, which is based in Dallas where it plans to continue maintaining its headquarters.

WMIH Corp. was formerly known as Washington Mutual Inc., the parent of Washington Mutual Bank until the bank was seized by the Office of Thrift Supervision in September 2008.

On Tuesday, WMIH announced that the acquisition has been completed.

Nationstar President and Chief Executive Officer Jay Bray will retain those roles and has additionally been named chairman of the surviving company.

Another appointment includes Mike Rawls as executive vice president servicing.

While shares of the surviving company will initially be traded under the symbol WMIH, the company expects to change its name to Mr. Cooper Group Inc. and its stock symbol to COOP.

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