Nationstar Mortgage Holdings Inc. (NSM) swung to a net profit for the quarter ended Mar. 31, 2017. The company has made a net profit of $2 million, or $ 0.02 a share in the quarter, against a net loss of $132.39 million, or $1.28 a share in the last year period. On an adjusted basis, the company has earned $29 million, or $0.30 a share for the quarter.
Revenue during the quarter surged 61.88 percent to $427 million from $263.77 million in the previous year period.
"In the quarter, Servicing delivered solid operational results with 5.6 basis points in profitability," said Jay Bray, chairman and chief executive officer. "For the third year in a row, our Servicing operations achieved Fannie Mae's highest level of recognition for performance, which reflects the dedication of our team members in providing the best possible home loan experience to all of our nearly 3 million customers."
Liabilities outpace assets growth
Total assets stood at $18,745 million as on Mar. 31, 2017, up 13.25 percent compared with $16,551.52 million on Mar. 31, 2016. On the other hand, total liabilities stood at $17,058 million as on Mar. 31, 2017, up 13.95 percent from $14,970 million on Mar. 31, 2016.
Shareholders equity stood at $1,687 million as on Mar. 31, 2017, up 6.67 percent or $105.48 million from year-ago.
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