Big Centex Homes Business- Nationstar Mortgage Pays $1.3 Billion for $215 Billion |
Wednesday, 09 January 2013 |
Lewisville-based Nationstar buys mortgage servicing rights from Bank of America
Nationstar Mortgage Holdings, which started out as the mortgage operation for Dallas-based Centex Homes, will buy $215 billion in mortgage servicing rights from Bank of America, which has been slashing its mortgage business in the wake of the financial crisis. It will pay $1.3 billion for the portfolio, which will more than double its customer base to 2.5 million. Mortgage servicers handle the payments on outstanding mortgages, forwarding proceeds to the mortgage holder and dealing with loan delinquencies and foreclosures when necessary. Nationstar, based in Lewisville, says it serviced approximately one million loans with total unpaid principal balances of $198 billion as of Sept. 30. It has about 4,100 employees at facilities around the country, including a call center in Lewisville. |
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Centex Avoids Responsibility |
Saturday, 27 October 2012 |
HOA fights for answers
There are more than 200 homes in the Wynston subdivision in Clayton. Recently, the HOA received a warning from the Town of Clayton letting them know the berms weren't up to code..."We didn't even really have an idea that the problem even occurred until the complaint was brought to our attention, some 10 years after the residency was built," homeowner Matt Katlen said. Centex developed the subdivision back in 1999.Katlen did some digging and found a document that dates back to 1999 from Centex's consultants. The letter addressed to the Town of Clayton's Planning and Inspections Department lets the town know Centex did not include the landscaping detail the town requested. The letter even provided a drawing showing the trees and shrubs that should be put in along the berms. The letter states this landscaping buffer will be added to the plans.More than 13 years later, the HOA wants the builder, Centex, to do what they say needed to be done back in 1999. |
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Pulte-Centex Force Homeowners to Binding Arbitration |
Tuesday, 23 October 2012 |
Rivermist owners look to arbitration
Home Owners for Better Building warned Rivermist homeowners about getting suckered into forced binding arbitration. Now after all these years wasted⦠The claims against Pulte Homes Inc. were dismissed in June after the court found that the parent company itself doesn't perform work in Texas. The case against Centex was dropped in September because the homeowners are subject to a binding arbitration agreement with the home builder, the court documents state. This latest decision affected Pulte Homes of Texas. "We have no choice at this point," Vick said. "It's either that or appeal the ruling on arbitration, which we don't intend to do. I don't agree with the court's ruling, but we certainly are in the process of going to the arbitration side." |
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Cibolo Mayor and council seek to reign in shoddy homebuilding |
Saturday, 13 October 2012 |
Raising the roof over homes
For months, several homeowners in the Falcon Ridge and Bentwood Ranch subdivisions have claimed the home builder sold them defective houses, and already the City Council has taken steps to protect its residents by drafting a stricter building code. Since the beginning of the year, the city of Cibolo has put in place code that requires home builders to conduct more soil testing and that requires engineers to certify a building's design fits with the soil test results, Mayor Pro-tem Stever Liparoto said. Cibolo Mayor Jennifer Hartman is one homeowner whose house has foundation issues... âThere seems to be a big difference between the home builders and the engineers (as to) what constitutes a failure,â Liparoto said. âMy thought is that if it costs the homeowner money or decreases their value, it's a failure.â |
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D R Horton Homeowners Ask Cibolo City Council For Home Lemon Law |
Wednesday, 26 September 2012 |
Cibolo homeowners ask city hall for more home builder regulation
For years now, people have complained their homes are built on poor foundations that are crumbling and sliding beneath their feet. Until lately, the fightâs been with individual builders of those subdivisions but now the battleground is shifting to city hall. |
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