One month ago, Nationstar Mortgage celebrated the fact that its revenue grew significantly in the fourth quarter, climbing nearly 46% year-over-year.
Now, Nationstar will have a new person in charge of that money as the nonbank announced Wednesday that it named Amar Patel, who previously spent 10 years with the company, as its interim chief financial officer.
Patel was with Nationstar from 2006 to 2016, most recently serving as the company’s executive vice president of portfolio investments, a post he held from 2011-2016.
Earlier in his career, Patel held various management positions at Capstead Mortgage Corporation, serving as senior vice president asset and liability management before leaving the company in 2006.
After leaving Nationstar, Patel served as a consultant for the company, but now he’s back in the fold in an official capacity.
Per a release from Nationstar, Patel will become executive vice president and interim CFO, replacing Robert Stiles who recently left the company.
Stiles had been executive vice president and CFO of Nationstar since 2014.
“On behalf of Nationstar, we want to thank Robert for his many contributions to the company during his three-year tenure at Nationstar and wish him continued success,” said Jay Bray, Nationstar’s chairman and chief executive officer.
As for Patel, Bray said that his experience with the company made him the obvious choice to replace the departed Stiles.
“Amar brings more than 20 years of industry experience and a deep understanding of our business and financials to his role as interim CFO,” Bray said. “Given his long standing commitment to Nationstar, our shareholders and our customers, I am confident he will successfully lead the organization through a seamless transition.”
