Nationstar Mortgage Holdings in Dallas reported significantly higher net income for the fourth quarter, due to improved revenue in its servicing segment.
The company's net income rose 151% year over year to $198 million in the fourth quarter. Diluted earnings per share were $2.01, up from 73 cents in the fourth quarter of 2015.
Total revenue for Nationstar's servicing segment rose to $528 million from $332 million a year earlier. The company ended 2016 with a record 2.9 million servicing customers, according to Nationstar CEO and Chairman Jay Bray.
The company's originations segment reported $163 million in total revenue, down from $225 million in the third quarter due to the rise in interest rates and seasonality. Still, the figure was up from the $158 million in total revenue the segment earned during the fourth quarter of 2015.
Nationstar's Xome segment's total revenue dipped slightly to $97 million from $97.7 million in the previous year.
Total expenses for the quarter dropped 1.1% year over year to $412 million.
