Nationstar Mortgage Holdings Inc. (NSM) swung to a net profit for the quarter ended Sep. 30, 2016. The company has made a net profit of $45 million, or $ 0.46 a share in the quarter, against a net loss of $66 million, or $0.62 a share in the last year period. Revenue during the quarter surged 36.52 percent to $542 million from $397 million in the previous year period.
"Our third quarter achievements solidify us as the preferred industry partner," said Jay Bray, Chairman and CEO. "In the quarter we posted strong operational results, added almost 510 thousand customers to our servicing platform, funded over 25 thousand loans and launched enhanced technologies that improve the home ownership experience for our 2.7 million and growing customer base. We ended the quarter with the largest servicing portfolio in our company's history, are actively engaged in a significant pipeline and remain focused on creating value for our shareholders."
Assets, liabilities fall
Total assets stood at $15,846 million as on Sep. 30, 2016, down 6.99 percent compared with $17,036.94 million on Sep. 30, 2015. On the other hand, total liabilities stood at $14,364 million as on Sep. 30, 2016, down 6.37 percent from $15,341.02 million on Sep. 30, 2015. Shareholders equity stood at $1,482 million as on Sep. 30, 2016, down 12.61 percent or $213.92 million from year-ago.
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