Industry NewsTechnology

Xome performance a highlight of Nationstar’s Q1

The company lost money overall, but Xome made $11 million
  • Xome made the company $11 million in Q1 2016.
  • New SaaS agreements, solidified pipelines and other improvements gave Nationstar executives a positive outlook for the real estate marketplace.

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Nationstar Mortgage Holdings -- which owns and operates the real estate marketplace Xome -- reported adjusted earnings of $28 million for the first quarter of 2016 (Q1), offset by a net loss of $132 million. Still, Nationstar CEO Jay Bray said the company made "significant progress" with Xome, which he believes will lead to continued profitability. "Operationally, we are off to a great start," he said. "Despite the noise, we remain confident in our ability to execute." Overall numbers Nationstar made about $264 million in revenue during Q1 2016. Of that, $101 million came from Xome, which cost the company $90 million to operate. That means Xome netted Nationstar $11 million in Q1 -- a significant bump from the $6 million Xome contributed to Nationstar's bottom line in Q4 2015. However, a loss of about $161 million due to changes in fair value of Nationstar shares contributed to the company's total quarterly loss. Xome's contributions Xome operations serve three out ...