This Day On The Street
Continue to site right-arrow
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Nationstar Announces Third Quarter 2013 Results & New Strategic Initiatives

Stocks in this article: NSM

Nationstar Mortgage Holdings Inc. (NYSE: NSM):

  • GAAP EPS of $0.91 on net income of $82 million
  • Pro forma EPS of $1.08, excluding BofA ramp and other one-time expenses totaling $25 million
  • Ending servicing portfolio UPB of $375 billion; pro forma UPB of $415 billion
  • Executed new agreements to acquire $25 billion in servicing
  • Servicing: Profitability targets on track; over $400 billion bulk acquisition pipeline
  • Solutionstar: Continued build-out of fee-based services offerings; significant revenue growth
  • Originations: Funded volume of $8.0 billion; year-to-date recapture rate of 45%
  • New strategic initiatives to increase shareholder value and returns

Nationstar Mortgage Holdings Inc. (“Nationstar”), a leading residential mortgage services company, today reported quarterly net income of $81.9 million, or $0.91 per share, for the third quarter 2013 compared to $55.1 million, or $0.61 per share, in the third quarter 2012.

Pro forma Q3’13 EPS was $1.08, after adjusting for $25.1 million in platform ramp related to the previously announced servicing acquisition from Bank of America (“BofA”) and other one-time transaction expenses. Pro forma Q3’13 EPS was up in comparison to Q3’12 pro forma EPS of $0.64.

On a Non-GAAP basis, adjusted EBITDA (“AEBITDA”) for operating segments grew 38% to $169.7 million, or $1.88 per share, for the current quarter versus $123.0 million, or $1.37 per share, in the third quarter 2012. In the current quarter AEBITDA margin was 27%.

Nationstar’s servicing portfolio, as measured by unpaid principal balance (“UPB”), ended the third quarter at $375 billion. Q3’13 ending UPB was up 90% over Q3’12 ending UPB of $198 billion. Pro forma for the closing of the remaining BofA PLS portfolios, and other servicing portfolios under contract, Nationstar’s UPB is approximately $415 billion.

1 of 6

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs