Nationstar (NSM) is upgraded to Buy at Sterne Agee. No details are yet available, but the...

|About: Nationstar Mortgage Hold... (NSM)|By:, SA News Editor

Nationstar (NSM) is upgraded to Buy at Sterne Agee. No details are yet available, but the analysts no doubt like the company's purchase of $215B in MSRs from BofA. The stock has rallied more than 20% on that news. Tip: The upgrade is supposed to come before, not after. In a filing, Nationstar says it paid about $1.3B for the deal, more than half of which will be funded through the sale of Excess MSRs to Newcastle (NCT).