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Home Lending, Servicing Up at Nationstar

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Mortgage production and servicing were up at Nationstar Mortgage LLC, and company-wide earnings made a big turn-around.

From April 1 through June 30, there were $4.8 billion in residential loans closed, according to the second-quarter earnings report from parent Nationstar Mortgage Holdings Inc.

Home lending volume increased from the $4.2 billion originated in the first quarter.

The latest mortgage production total also fared better than the $4.4 billion on the record for the second-quarter 2014.

In the first half of 2015, Nationstar mortgage originations came to $9.0 billion.

Second-quarter refinance share dipped to 73 percent from 76 percent in the prior quarter.

Meanwhile, consumer-direct lending accounted for $3.0 billion of the recent production total — unchanged from the prior period.

As of June 30, Nationstar’s home loan servicing portfolio, as measured by unpaid principal balance, grew to $404 billion from $390 billion as of March 31 and $378 billion as of June 30, 2014.

“This represents the first time ending UPB was greater than $400 billion as of the end of a quarter in the company’s history,” noted Nationstar’s latest earnings statement.

As well, the lender said it “successfully closed on $29 billion of servicing acquisitions during the quarter and has outstanding commitments of $28 billion.”

At $0.182 billion as of the end of last month, the Dallas-based firm’s mortgage investment portfolio slightly dipped from the $0.186 billion listed as of the end of March and the $0.199 billion recorded as of the last day of June, last year.

Reverse mortgage interests on the balance sheet at the end of the second quarter came to $7.425 billion — a big expansion from $2.634 billion at the end of the first quarter and $1.772 billion at the end of the second quarter in 2014.

The delinquency rate of at least 60-days dropped to 7.4 percent, a marked improvement from 8.8 percent as of the prior reporting period. The delinquency rate was much better than 11.0 percent as of June 30, 2014.

According to the its latest financial report, Nationstar saw the improvement in loan performance “as a result of completing 16,831 workouts and the boarding of lower delinquency portfolios during the quarter.”

Company-wide, Nationstar’s income before taxes swung to a $120 million profit from the first-quarter loss of $74 million. As well, the recent total was $14 million ahead of income posted for the second-quarter 2014.

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