August 8, 2018
Greenville, SC (August 8, 2018) — Every season has its celebrations, and those celebrations often lead to new goals to accomplish. Shellpoint Mortgage Servicing (SMS) has certainly entered a new season in its corporate lifecycle, resulting in new celebrations as the company achieves its growth objectives much more quickly
than originally anticipated.
Just a year after growing its residential mortgage-loan portfolio to 200,000 loans, SMS now finds itself managing well over 300,000 loans—an impressive ten-fold growth rate in the last eight years.
In 2010, with only a few clients and just 30,000 loans under management, SMS was an energetic but minor player in the residential mortgage-servicing arena. Now, thanks to its commitment to deliver exceptional service to both clients and homeowners, the company has over 40 clients, including two major investment firms and three of the four largest U.S. banks. With a diverse portfolio totaling nearly $80 billion in unpaid
principal balance (UPB), SMS ranks 12th among America’s “top 20” non-bank residential mortgage servicers.
According to Chief Servicing Officer Michael Keaton, there are great reasons for the company’s exceptional growth. “We’re pleased to be able to say that a good portion of our success is due to organic growth from our existing clients,” he noted. “Also, our acquisition by New Residential Investment Corp. in July 2018 has helped to grow our servicing portfolio.”
“New Residential has already become a major client,” said Keaton, “and they’ve entrusted to us a significant performing-loan portfolio—as well as a large group of non-performing loans from other servicers.”
“Here’s the best news: We expect our growth to not only continue, but accelerate,” Keaton stated. “We currently anticipate our portfolio expanding to about half a million loans by year-end.”
Keaton is quick to recognize those who’ve made such growth possible. “We’re extremely thankful for the hard work of every SMS associate, and for their unswerving dedication to our clients and our homeowners,” he observed. “Without truly exceptional employees, none of this would even be possible.”
About Shellpoint Mortgage Servicing
Shellpoint Mortgage Servicing is one of America’s “top 20” non-bank servicers of residential mortgage loans. From its offices in Greenville, SC and Houston, TX, SMS serves a wide range of clients nationwide, including leading banks, loan originators, and private equity firms—all of whom value SMS’ reputation for creating positive mortgage-payment experiences. SMS’ ongoing success is grounded in its ability to deliver superior asset performance and to develop creative and practical solutions for homeowners in need.
SMS is proud to be part of Shellpoint Partners—a diversified and vertically integrated residential mortgage banking organization based in New York City. In July 2018, Shellpoint Partners and its assets joined New Residential Investment Corp. (NYSE: NRZ), a publicly traded real estate investment trust (REIT) that focuses on investing in and actively managing investments that are primarily related to residential real estate.
For more information, contact:
Jeff Berg, Business Communications Manager
Shellpoint Mortgage Servicing
75 Beattie Place, Suite 300
Greenville, SC 29601
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