NATIONSTAR MORTGAGE HOLDINGS INC. (NYSE:NSM) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02 Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.
release today announcing that Amar R. Patel has been appointed as
Executive Vice President and Chief Financial Officer on an
interim basis effective March 20, 2017. Mr. Patels appointment
follows the departure of Robert Stiles from the Company as
Executive Vice President and Chief Financial Officer on March 17,
2017.
industry. Mr. Patel joined Nationstar Mortgage LLC in 2006 and
served as its Executive Vice President of Portfolio Investments
until July 2015. He held the same title with the Company from 2011
to July 2015. Mr. Patel served as the Company’s Senior Vice
President of Servicing Finance from July 2015 to September 2016.
Mr. Patel has also served as a consultant to the Company.
(i) a base salary of $375,000, (ii) a target bonus opportunity of
240% of base salary with a maximum payment of 400% of his base
salary under the Nationstar Mortgage LLC Executive Management
Incentive Plan and (iii) a sign-on equity award in the monetary
amount of $500,000 which vests ratably over three years provided
that Mr. Patel remains continuously employed by the Company through
each vesting date. Mr. Patel is also subject to non-competition and
non-solicitation provisions for the 12-month period immediately
following the date of termination of his employment with the
Company.
Form 8-K as Exhibit 99.1.
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99.1
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Press release of Nationstar Mortgage Holdings Inc., dated
March 22, 2017 |
About NATIONSTAR MORTGAGE HOLDINGS INC. (NYSE:NSM)
Nationstar Mortgage Holdings Inc. provides servicing, origination and transaction based services principally to single-family residences throughout the United States. The Company operates through three segments: Servicing, Originations and Xome. The Company also operate an integrated residential loan origination platform that is primarily focused on customer retention. The Company provides residential mortgage services in the United States conducting operations through its Nationstar Mortgage and Champion Mortgage brands. Servicing primarily involves loan administration, payment processing, mortgage escrow account administration, collection of insurance premiums, response to homeowner inquiries and loss mitigation solutions. The Company originates residential mortgage loans through both the Greenlight Financial Services and Nationstar Mortgage brands. Its Xome subsidiary offers an array of complementary services related to the purchase and disposition of residential real estate. NATIONSTAR MORTGAGE HOLDINGS INC. (NYSE:NSM) Recent Trading Information
NATIONSTAR MORTGAGE HOLDINGS INC. (NYSE:NSM) closed its last trading session down -0.18 at 15.56 with 506,237 shares trading hands.