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Legacy Mortgage

The Legacy Group - Mortgage | Capital | Escrow

We are a respected, independent mortgage, capital, and escrow company. An employee owned organization, which is committed to helping individuals ...

Nationstar (aka Mr. Cooper) merging with WMIH Corp. in $3.8 billion deal

The companies stated that Nationstar’s operations will “continue as normal” and its employees will join the combined company, which will continue to be led by Nationstar’s senior leadership team. Nationstar CEO Jay Bray will continue to serve as the company’s CEO.

Under the terms of the agreement, Nationstar shareholders may choose to receive $18 in cash or 12.7793 shares of WMIH common stock for each share of Nationstar common stock they currently own, as long as 32% of the total outstanding Nationstar shares are exchanged for WMIH stock.

Nationstar stock closed Monday’s trading at $17.10, while WMIH closed Monday’s trading at $0.80. WMIH’s stock is soaring on the Nationstar news though. In early trading Tuesday, WMIH is up more than 55% to $1.25.

According to the companies, $1.2 billion in cash is being made available to Nationstar shareholders who elect to take cash for their shares.

The value of the WMIH shares included in the deal is expected to be approximately $702 million.

Could the new digital mortgage lenders you've never heard make it easier and cheaper to get on the property ladder?

We've already reported that putting your savings in a bank that you've never heard of could actually earn you money .

Now digital banks are moving into the world of lending money, specifically mortgages. But are they any good?

What is a digital bank?

A digital bank delivers its services online, either through a website or often through an app.

They're different to online banking which is a service offered by high street banks where customers can access some of the services at home or on the go.

Unlike a high street bank, they don't have any branches and they communicate with customers through the app.

Revolut, Starling, Atom Bank and Monzo are some of the better known digital banks and are protected by the Financial Services Compensation Scheme (FSCS).

Can I get a mortgage from a digital lender and what are the benefits?

At the moment, it's only start-up Atom bank who's able to lend mortgages, through their Digital Mortgages scheme.

lagacy mortgage?

my husband and i are fixing to buy our first house and we found a great lender, which is legacy mortgage. we got 100% financing with them and they are paying for the inspection. im just wondering, has anyone gone through them before?

The only thing I find odd is why a bank would pay for an inspection.

Loans don't require it, that is a buyer's option.

An appraisal, isn't the same as an inspection.

Never heard of that....sounds very odd.