Record Servicing Portfolio at Nationstar Mortgage

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MORTGAGE EXPERT
11 · 02 · 16

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.

Mortgage Expert

Mortgage Daily Staff

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