Mortgage servicer Nationstar Mortgage Holdings Inc.’s (NSM) third-quarter net income climbed to $81.9 million, or 91 cents per share, compared to $55.1 million, or 61 cents per share, in the third quarter 2012.
Meanwhile, Nationstar’s servicing portfolio, as measured by unpaid principal balance, ended the third quarter at $375 billion, rising 90% from $198 billion for the same period a year prior.
“In the third quarter overall Nationstar made good progress on multiple fronts," said Jay Bray, CEO. "Servicing segment income increased as we continued to grow the size and profitability of the portfolio. Reflecting momentum in the build-out of our fee-based real estate services business, Solutionstar revenue grew at an impressive rate. In the origination segment, the interest rate volatility in the quarter negatively impacted loan pipeline growth and gain-on-sale margins, resulting in a challenging origination quarter.”