This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Nationstar Mortgage Announces Second Quarter 2012 Financial Results

“We continued to build upon our success from the first quarter and delivered another solid quarter of operating and financial results. Our ability to identify and acquire accretive portfolios demonstrates that we have the right strategy and business model to capitalize on the realignment of the $10 trillion mortgage industry,” said Jay Bray, Chief Executive Officer of Nationstar. “In the quarter, we executed on key strategic initiatives that we expect will deliver long-term value to customers and shareholders. These initiatives include the acquisition of the Aurora servicing portfolio, the launch of the preferred lender program with KB Home, and being named the ‘stalking horse’ bidder for the ResCap portfolio.”

“Our primary focus remains on improving asset performance in our portfolio by reducing delinquencies and defaults,” said Mr. Bray. “As we continue to grow the platform through strategic portfolio acquisitions, we remain committed to providing best-in-class service to our customers, recapturing value for mortgage credit owners, and creating value for our shareholders.”

Chief Financial Officer David Hisey said, “We had a strong quarter of financial results driven by the expansion of our servicing portfolio and record origination volume. On a comparative basis, our earnings were equal quarter-over-quarter, demonstrating our continued progress. We have multiple levers in place to support our continued growth in a capital-light manner. We believe we have the team, model, process and infrastructure necessary to capitalize on the growth opportunities in front of us.”

Business Segments

Servicing

Mortgage servicing fee income, before fair value adjustments, increased 25% to $109.2 million in second quarter 2012 compared to $87.5 million in the prior quarter. Total mortgage servicing fee income of $91.9 million was flat quarter-over-quarter primarily due to a fair value adjustment to mortgage servicing rights in the current quarter. In the current quarter, the servicing segment pre-tax loss was $4.7 million, versus $19.6 million of pre-tax income in the prior quarter and $3.4 million in the year-ago quarter.

2 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 17,776.91 +93.33 0.53%
S&P 500 2,081.34 +12.58 0.61%
NASDAQ 4,997.4590 +5.5190 0.11%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs