Mortgage Daily Logo

Record Servicing Portfolio at Nationstar Mortgage

Mortgage News

In addition to lifting home-loan originations and swinging to a quarterly profit, Nationstar Mortgage Holdings Inc. reported a record servicing portfolio.

The Dallas-based firm earned $71 million before accounting for income tax expense. Income swung from a $144 million loss in the second quarter.

Those details, along with other operational and financial results, were included in the third-quarter 2016 earnings report that was released Wednesday.

Nationstar previously reported
a $112 million loss for the third quarter of last year.

Residential loan production amounted to $5.5 billion during the period that started on July 1, 2016, and ended on Sept. 30 — the best quarter since the fourth-quarter 2013.

Business improved from $5.2 billion in the second quarter and $4.9 billion in the third-quarter 2015.

For all three quarters so far during 2016, Nationstar funded
$14.9 billion.

Refinance share inched up to 76 percent during the latest three-month period from 74 percent in the second quarter.

Consumer-direct production accounted for $4.0 billion of the most-recent activity.

Nationstar said it serviced $453 billion in home loans as of Sept. 30, 2016, “the highest in the company’s history.” The mortgage servicing portfolio surged from $369 billion as of mid-2016. As of the same date last year, the portfolio stood at $408 billion.

“In the quarter we posted strong operational results, added almost 510 thousand customers to our servicing platform, funded over 25 thousand loans and launched enhanced technologies that improve the home ownership experience for our 2.7 million and growing customer base,” Nationstar Chairman and Chief Executive Officer Jay Bray said in the report. “We ended the quarter with the largest servicing portfolio in our company’s history, are actively engaged in a significant pipeline and remain focused on creating value for our shareholders.”

Mortgage loans held for investment dipped to $0.156 billion as of the most-recent date from $0.159 billion as of June 30 and were down from $0.179 billion as of Sept. 30, 2015.

The third-quarter 2016 closed out with a 60-day delinquency rate of 5 percent,
down from 5.7 percent three months earlier and 7.2 percent one year earlier.

Related Posts

Centex Home Equity Announces Name and Brand Change to National Mortgage, LLC

Third-Quarter 2012 Mortgage Litigation Index

Lawsuits involving excessive fees, servicing fees and loan fees beyond state maximums. Defendant Plaintiff Court Amount Overview Case Title Case Number Date Filed Date of Activity Link to Story Fannie Mae and Freddie Mac Orangeburg County, Richland County, South...

Centex Home Equity Announces Name and Brand Change to National Mortgage, LLC

Net Branch Lawsuits

Litigation involving net branch operations. Defendant Plaintiff Court Amount Overview Case Title Case Number Date Filed Date of Activity Link to Story PHH Mortgage Corp. Mathews Supreme Court of Virginia na Court held that the term "branch office" includes not only...

Centex Home Equity Announces Name and Brand Change to National Mortgage, LLC

Whistleblower Lawsuits

Litigation related to loan servicing, including escrow issues, transfer of servicing and servicing borrowers in bankruptcy and foreclosure.   Defendant Plaintiff Court Amount Overview Case Title Case Number Date Filed Date of Activity Link to Story Bank of...

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 paperwork has 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 furniture need to...

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...

Newsletter

Don’t worry, we don’t spam