Revenue during the quarter plunged 91.28 percent to $5.10 million from $58.52 million in the previous year period.

Total expenses were $6.03 million for the quarter, down 90.85 percent or $59.90 million from year-ago period. Operating margin for the quarter stood at negative 18.23 percent as compared to a negative 12.67 percent for the previous year period.

Operating loss for the quarter was $0.93 million, compared with an operating loss of $7.41 million in the previous year period.

"We continue to deliver on Residential's stated goals by building Residential's single-family rental business while continuing to improve on its operating metrics and selling its NPLs, re-performing loans and non-rental REO properties to generate liquidity for attractive acquisitions and potential stock repurchases," stated chief executive officer George Ellison. "We believe our efforts have put Residential in an excellent position to thrive and become one of the preeminent single-family rental companies in the industry. These continuing efforts should benefit AAMC's financial performance and prospects as Residential continues to grow."

Net receivables were at $4.93 million as on Sep. 30, 2016, down 86.13 percent or $30.59 million from year-ago.

Investments stood at $17.71 million as on Sep. 30, 2016, down 98.72 percent or $1,362.87 million from year-ago.

Total assets plunged 97.65 percent or $2,744.76 million to $65.94 million on Sep. 30, 2016. On the other hand, total liabilities were at $5.68 million as on Sep. 30, 2016, down 99.62 percent or $1,505.44 million from year-ago.

Return on assets was negative at 1.62 percent in the quarter against a positive 0.24 percent in the last year period.