Nationstar Mortgage Posts Q3 Profit Of $45 Mln

(RTTNews) - Nationstar Mortgage Holdings Inc. (NSM) reported net income attributable of $45 million or $0.46 per share for the third-quarter. It reported net loss attributable of $92 million or $0.92 per share for the second-quarter.

On an adjusted basis, the company achieved net income of $51 million or $0.52 per share, driven by recapturing customers through our originations platform and our strong servicing performance despite elevated amortization. The third quarter adjustments to net income include the net fair value marks and exit costs related to the originations builder channel.

Total revenues for the recent quarter was $542 million, while it was $329 million in the prior quarter.

The company is authorized to repurchase up to $250 million of common stock pursuant to the previously-announced stock repurchase program. As of the date of this release, $125 million of common stock has been repurchased under this program. In addition, since October 18, 2015, it has repurchased $125 million of unsecured senior notes due between 2018 and 2022.