Greenlight Financial is a mortgage loan servicing company with offices in Irvine, California, San Diego, California, and Las Vegas, Nevada. A loan servicing company is a lending institution that buys portfolios of recently closed mortgages. Most of Greenlight Financial’s customers have never heard of them prior to receiving the notice.
Greenlight Financial assumes the loan balance and consumers are sent a notice of where to start sending their monthly mortgage payments. Besides paying a different lender, there are no other changes to the original mortgage contract when Greenlight buys a consumers mortgage loan.
When you take out a mortgage on a home, that loan is often sold to a third party loan servicer to carry the debt and collect payments. Greenlight loans was a big part of the loan servicing industry. They started off primarily servicing manufactured homes, but made the jump to residential homes in the last few years.
Nationstar Acquires Greenlight Financial
Greenlight Financial was acquired by Nationstar Mortgage for 75 million. Nationstar Mortgage is one of the largest loan servicing companies in the U.S. with more than 300 billion in unpaid principal debt.
Refinance your Greenlight Loan
Greenlight Financial, which is now Nationstar mortgage, does allow current consumers to refinance their mortgage to get a better interest rate and reduce monthly mortgage payments. You will need to have your home appraised before you can refinance your mortgage with Greenlight Financial. Streamline refinances as well as traditional rate and term refinancing is available through Greenlight Loans.
To inquire about refinancing your Greenlight loan, you should contact Nationstar Mortgage.
Customer service phone: 888-480-2432
- Monday – Thursday 7am to 8pm CST
- Friday 7am to 6pm CST
- Saturday 8am to 2 pm CST
- Closed on Sundays
Refinancing out of your Greenlight Loan
Greenlight Financial does not restrict you from refinancing your loan through another mortgage lender. You should contact Nationstar because it will be a more streamlined process to refinance through your current loan servicer. However, it is advised to get loan offers from up to 4 different lenders to compare quotes. Lenders will not provide the same quotes, some loan products and lenders will be better options than others.
If you have a low credit score, Greenlight Financial may not be able to help you refinance your loan. In this scenario you should contact other lenders to see if they can help you refinance your mortgage with poor credit.