On Monday, Nationstar Mortgage announced that it received the Servicer Total Achievement and Rewards (STAR) performer recognition for overall performance from Fannie Mae. This is the third year in a row in which Nationstar has received the recognition.
“This recognition belongs to our dedicated team members who are focused on giving our customers the best home loan experience possible,” said Jay Bray, Chairman and CEO of Nationstar. “We are honored to receive the highest level of recognition from Fannie Mae’s STAR program for the third year in a row and proud to be recognized for helping to keep the dream of homeownership alive for our customers.”
Nationstar had ended 2016 on a strong note, posting positive Q4 results. Q4 2016 was worth $2.01 per diluted share and net income reached $198 million, a significant gain over Q3 2016’s $45 million and $0.46 per diluted share. Overall, Nationstar ended the year with a total revenue of $789 million, a 37 percent increase over last year.
The servicing segment finished the year with a net revenue of $528 million, $58 million for the quarter. Adjusted pretax income experienced a 49 percent improvement over the previous quarter. According to the Q4 2016 report, Nationstar, “continued to implement technology and process initiatives to drive overall servicing profitability higher.”
“Nationstar had an incredible year of success in 2016,” said Bray. “We increased servicing profitability BPS over 87 percent while ending the year with a record 2.9 million customers.
Fannie Mae’s STAR Program aims to recognize the highest performing servicers for customer service. The program recognizes servicer performance based on three STAR performer categories: general servicing, solution delivery, and timeline management.