Xome’s role as a wholly owned subsidiary of Nationstar Mortgage continues to fluctuate over time, adding another item to its already wide breadth of offerings.
Xome, which used to go by the title Solutionstar, kicked off in June of 2015, offering “the world’s first integrated, end-to-end digital platform for real estate, with the promise of connecting every major touch point in the transaction process, from finding a home to closing the deal.”
Xome offers consumers a one-stop shop for the entire real estate experience, all the way from picking a house and an agent through securing financing and closing the deal.
Now, according to the latest review of the company from Fitch Ratings, Nationstar fully transferred all of its REO auction activity to Xome. The report noted that Nationstar utilizes Xome for field services and real estate owned asset management and closings.
Xome may still be a new company to the industry, but so far, it’s performing well, judging by the latest earnings report.
Xome delivered $20 million in GAAP pretax income, driven by maintaining strong property sales execution and continued improvement in title operations margins.
It’s parent company fared well too. Nationstar recorded in the third quarter that its servicing portfolio is the largest in its history.
In the report, Fitch reaffirmed several of Nationstar’s servicer ratings (residential primary servicer rating for Alt-A product, residential primary servicer rating for subprime product, residential special servicer rating, and residential master servicer) and says that the outlook for each of those ratings is still “stable.”