Nationstar Mortgage Reports Solid Originations

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Home lending increased on a quarter-over-quarter and year-over-year basis at Nationstar Mortgage Holdings Inc. Servicing slipped, earnings swung to a profit, and delinquency declined..

In its second-quarter earnings report, the Dallas-based company announced that income before income-tax expense came to $79 million.

Earnings swung from a $29 million loss during the same three months last year. Income plummeted, however, from $206 million in the first-three months of this year.

Origination income accounted for $32 billion of the most-recent earnings, and servicing income made up $88 million

Roughly 25,000 loans for $5.542 billion were originated during the latest three-month period. That was up from 23,000 loans funded for $5.087 billion the prior period and $4.254 billion a year prior.

Refinance share was cut to 49 percent from 60 percent tin the first-three months of this year.

Full first-half 2018 production came to 48,000 loans for $10.629 billion.

Nationstar, which operates at Mr. Cooper, reported that its servicing portfolio ended the first half at $498 billion,
slightly lower than $500 billion three months earlier but no different that as of mid-2017.

Residential holdings were reduced to $9.609 billion from $10.361 billion and were also lower than $10.752 billion as of mid-2017. Last month’s total consisted of $9.477 billion in reverse mortgage interests and $0.132 billion in mortgages held for investment.

As of June 30, 2018, sixty-day delinquency was 2.8 percent. The 60-day rate fell 4 basis points from the end of the first quarter and has plunged 70 BPS over the past year.

Mortgage Expert

Mortgage Daily Staff



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