Nationstar Mortgage Holdings (NSM) has reported an 151.02 percent jump in profit for the quarter ended Dec. 31, 2016. The company has earned $198 million, or $2.01 a share in the quarter, compared with $78.88 million, or $0.73 a share for the same period last year.
Revenue during the quarter surged 34.25 percent to $789 million from $587.73 million in the previous year period.
"Nationstar had an incredible year of success in 2016," said Jay Bray, chairman and chief executive officer. "We increased servicing profitability bps over 87% while ending the year with a record 2.9 million customers. Originations also had a banner year posting record earnings and funding more than $20 billion in loans. At Xome®, we continued to invest in new technologies and grow third-party business," Bray added. "We enter 2017 with solid momentum and the opportunity to welcome almost 1 million new customers to our servicing platform as we continue on our journey to reinvent the mortgage experience for the customer and enhance our leadership role in residential servicing."
Liabilities outpace assets growth
Total assets stood at $19,593 million as on Dec. 31, 2016, up 17.65 percent compared with $16,654.07 million on Dec. 31, 2015. On the other hand, total liabilities stood at $17,910 million as on Dec. 31, 2016, up 20.31 percent from $14,886.69 million on Dec. 31, 2015.
Shareholders equity stood at $1,683 million as on Dec. 31, 2016, down 4.77 percent or $84.38 million from year-ago.
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