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Nationstar Affiliate Laying Off Dozens in Texas

Mortgage News

A real estate auction service that’s part of the company that operates mortgage servicer Nationstar Mortgage Holdings Inc. is planning to lay off 72 employees permanently beginning days before Thanksgiving.

Xome Realty Services, which helps buyers pick up short sale, foreclosure, luxury, and commercial properties at auction, is part of the corporate family that also includes Mr. Cooper, the current brand name for the former Nationstar.

In late July, Nationstar merged with WMIH Corp., formerly known as Washington Mutual Inc. In August, the parent company announced a new chief executive officer for Xome.

A letter to the Texas Workforce Commission and the mayor of Lewisville dated Tuesday said there would be a “mass layoff at the Xome Realty Services LLC facility” in Lewisville beginning Nov. 20 and running through Dec. 31.

Xome’s recent acquisition of Assurant Mortgage Solutions, a technology service, provided “opportunities for synergies,” the company said, adding that it would try to find workers “new opportunities …within the company,” where possible.

The workforce commission also received notice from Michigan-based Challenge Manufacturing of 89 layoffs impacting workers in Irving. Those layoffs were described as temporary.

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