Technology

Nationstar’s Xome revenue drops again in the second quarter

Platform is 'undervalued' within the Nationstar umbrella at the moment, said CEO Jay Bray

Revenue for Nationstar's Xome -- a platform that features a property search site, real estate agent referral network and title, closing, valuation and asset management services -- declined to $76 million in the second quarter of 2017, according to the company's Q2 2017 financial results. Nationstar operated at a net loss of $20 million in the second quarter, compared to a net income of $2 million in Q1 and $198 in Q4 2016. Xome's revenues have been languishing for some time, from $101 million in Q1 2016 to $85 million in Q1 2017. The platform's earnings (adjusted pretax income) rose from $13 million in the first quarter to $17 million in Q2. Launched 2015, Nationstar Mortgage Holdings launched Xome to much fanfare, hailing it as “world’s first integrated, end-to-end digital platform for real estate, with the promise of connecting every major touch point in the transaction process, from finding a home to closing the deal.”' In June, several sources told Inman that...