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Originations, Servicing Up at Nationstar Mortgage

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There was growth in loan originations and the mortgage servicing portfolio at Nationstar Mortgage LLC. Profits, however, turned to losses.

For the third quarter of this year, the mortgage banker funded $4.9 billion in residential loans.

That was an improvement over the second quarter, when $4.8 billion in residential loans were closed.

The results were announced Tuesday by parent Nationstar Mortgage Holdings Inc.

Previously reported data indicate that Nationstar
funded $4.1 billion in the third quarter of last year.

For all three quarters that have elapsed so far this year, volume amounted to
$13.9 billion.

Consumer-direct volume represented $2.9 billion of third-quarter 2015 originations, down from $3.0 billion three months earlier.

The servicing portfolio finished the third-quarter 2015 at $408 billion.

Nationstar grew its servicing portfolio
from $404 billion three months earlier and $378 billion as of a year earlier.

“In October, a leading diversified financial services organization awarded Nationstar a long-term contract to sub-service mortgages for its customers,” the report stated. “The company expects that the existing portfolio, which exceeds $50 billion in average servicing portfolio made up primarily of conforming loans, will board over several months beginning in March 2016, pending the customary regulatory approvals and consents.”

Mortgages held for investment were trimmed to $0.179 billion from $0.182 billion as of mid-year 2015.

Sixty-day delinquency
was 7.2 percent as of the end of September, a 20-basis-point improvement from the previous period.

The delinquency rate has tumbled from 10.6 percent as of Sept. 30, 2014.

Income prior to income taxes was a $112 million loss, swinging from a $120 million second-quarter profit.

Third-quarter 2015 earnings included $152 million in fair value marks and $11 million in adjustments.

The latest earnings also swung from a $110 million third-quarter 2014 profit.

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