Mortgage Daily Logo

Nationstar Only Mortgage Lender to Report Increased Originations

Mortgage News

Nationstar Mortgage Holdings Inc. is so far the only home lender to report an increase from the second quarter in mortgage production. The company however, is eliminating more than a thousand jobs.

In the quarter ended Sept. 30, Nationstar Mortgage LLC originated $8.0 billion, according to earnings data released Thursday.

Business increased from the second quarter, when $7.1 billion in residential loans were reportedly funded.

The Lewisville, Texas-based firm is so far the only mortgage lender tracked by Mortgage Daily that has reported an increase in mortgage production between the second and third quarters of this year.

During the third-quarter 2012, Nationstar funded just $1.82 billion.

Year-to-date Sept. 30, 2013, originations amounted to $18.5 billion.

The consumer-direct channel generated $4.5 billion of third-quarter 2013 volume, while another $1.5 billion came from the wholesale channel and $2.0 billion was acquired through the correspondent channel.

New business is likely to contract, however, given the sale of Nationstar’s wholesale lending business to Stonegate Mortgage Corp., which is expected to close this month. The wholesale channel accounted for more than a quarter of Nationstar’s year-to-date business.

Nationstar said it serviced $375 billion in residential loans as of Sept. 30. The servicing portfolio increased from $318 billion as of June 30 and $197.6 billion as of Sept. 30, 2012.

“Nationstar completed the acquisition and boarding of a $62 billion PLS portfolio from BofA and the remaining portfolio is expected to close and board over the next 60 days,” the report said. “Additionally, Nationstar has entered into definitive agreements with two financial institutions to acquire servicing portfolios totaling $25 billion, of which $15 billion was previously sub-serviced by Nationstar.”

Mortgage servicing rights on around $400 billion in loans are currently in the pipeline of potential purchases.

Mortgage loans held for investment were $0.213 billion, off from $0.257 billion at the end of the second quarter. Reverse mortgage interests grew to $1.226 billion from $1.086 billion.

Earnings before taxes at the holding company fell to $132 million from $199 million but have increased from $80 million during the same period last year.

As a result of the sale of the wholesale lending unit and a consolidation of offices, headcount is being reduced by around 1,100 employees. However, some of the impacted employees will join Stonegate.

At last count on July 31, Nationstar said its staff stood at more than 7,700 employees.

Related Posts

NewDay USA CEO Rob Posner Expects 10% Increase in 2019 Mortgage Loan Volume

There is No Such Thing as a Free House …

Over the past several years, those who service loans in the State of Washington(1) have seen a dramatic rise in the number of lawsuits in which delinquent borrowers seek to quiet title to their homes on the grounds that lenders are barred from foreclosing based on...

NewDay USA CEO Rob Posner Expects 10% Increase in 2019 Mortgage Loan Volume

Mortgage Servicer Portfolios

servicing news | mortgages outstanding statistics | foreclosure news   Servicing Portfolios as of 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 Residential Servicing Portfolios by Servicer Last Updated December 14, 2018...

NewDay USA CEO Rob Posner Expects 10% Increase in 2019 Mortgage Loan Volume

Fannie Mae Profile

Last Updated December 27, 2018 7:38 PM Central   full list | other directories | bank search | SEC filings | execs | m&a | production   Government Takes Over Fannie, Freddie Sept. 8, 2008 The government has seized control of Fannie Mae and Freddie Mac. The move --...

NewDay USA CEO Rob Posner Expects 10% Increase in 2019 Mortgage Loan Volume

Freddie Mac Profile

Government Takes Over Fannie, Freddie Sept. 8, 2008 The government has seized control of Fannie Mae and Freddie Mac. The move -- which is likely to push mortgage rates lower and provide a sense of stability for the more than 10,000 employees at both companies -- is a...

Popular posts

How Long Does It Take to Refinance a Mortgage
How Long Does It Take to Refinance a Mortgage

So, you’re interested in refinancing your mortgage. Maybe you want some extra capital to do that home project you’ve always dreamed of, interest rates are nearing record lows, or you want to start consolidating debt. Regardless of the motivation behind the refinance,...

How Does Refinancing a Mortgage Work
How Does Refinancing a Mortgage Work

A home purchase is considered an investment, and a robust one at that. Savvy owners are constantly looking for new ways to reduce debt, save money, pay less in interest, and ultimately build equity. Refinancing is one way to leverage your investment and do just that....

What Does It Mean to Refinance Your Home
What Does It Mean to Refinance Your Home

You can think of refinancing your mortgage as a debt redo. Essentially, you’ll swap out the existing loan for a new one - ideally with better terms and conditions. Only this time it could help you save money on high mortgage payments, rather than just borrow it....

Setting up the Utilities in My New House
Setting up the Utilities in My New House

All the tedious, time-consuming home closing documents have been signed, sealed, and delivered. Your belongings are packed into what seems like a million boxes and you have a solid plan to haul all your existing furniture to the new place. Just as your boxes and...

When Is My First Mortgage Payment Due?
When Is My First Mortgage Payment Due?

Navigating your way through a brand new mortgage loan can be a difficult task, especially for first time homeowners. After handing over a large sum of money for the down payment and closing costs, it’s important to pay attention to the timing of your first mortgage...

Newsletter

Don’t worry, we don’t spam

calculate your monthly mortgage payment

Related Topics

Helpful Links

Daily mortgage rate trends

Best mortgage lenders

First-time homebuyers programs by state

Loan limits by state

Types of mortgages

APR vs interest rate

Understanding PMI