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Nationstar Mortgage Originations Holding Up

Quarterly loan originations are holding up at Nationstar Mortgage Holdings Inc., and signs point to more of the same. Servicing, however, was down.

In its fourth-quarter 2017 earnings report, the Dallas-based mortgage banking firm disclosed income before income tax expense of $58 million.

Earnings
sank from $317 million in the final-three months of 2016. But results were stronger than $12 million in the preceding three-month period.

Servicing accounted for $77 million of fourth-quarter 2017 earnings, while originations made up
$30 million, and Xome generated $12 million. Corporate charges of $61 million partially offset the profits.

Loan production during the final-three months of 2017 came to $5.152 billion, slightly more than $5.102 billion in the third quarter and slightly less than $5.338 billion in the fourth-quarter 2016.

Refinances accounted for 63 percent of fourth-quarter 2017 activity, thinning from 64 percent the prior period.

From Jan. 1, 2017 through Dec. 31, home-lending volume amounted to $19.140 billion, less than $20.316 billion in 2016.

First-quarter mortgage production is likely holding up based on total pull-through adjusted volume, which dipped to $4.8 billion from $4.9 billion.

The servicing portfolio was 3.2 million loans with a collective unpaid principal balance of $508 billion, less than
3.3 million loans for $533 million at the end of the third quarter but more than $473 billion at the end of 2016.

Residential assets closed out last year at $10.123 billion — including $9.984 billion in reverse mortgage interests and $0.139 billion in mortgages held for investment.

The total was was down from $10.442 billion at the end of the third quarter $11.184 billion at the end of 2016.

Delinquency of at least 60 days finished last year at 3.4 percent, worsening from 3.2 percent as of Sept. 30
but lower than 5 percent as of year-end 2016.

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