Nationstar Announces Third Quarter 2013 Results & New Strategic Initiatives

  Nationstar Announces Third Quarter 2013 Results & New Strategic Initiatives

Business Wire

LEWISVILLE, Texas -- November 7, 2013

Nationstar Mortgage Holdings Inc. (NYSE: NSM):

  *GAAP EPS of $0.91 on net income of $82 million
  *Pro forma EPS of $1.08, excluding BofA ramp and other one-time expenses
    totaling $25 million
  *Ending servicing portfolio UPB of $375 billion; pro forma UPB of $415
    billion
  *Executed new agreements to acquire $25 billion in servicing
  *Servicing: Profitability targets on track; over $400 billion bulk
    acquisition pipeline
  *Solutionstar: Continued build-out of fee-based services offerings;
    significant revenue growth
  *Originations: Funded volume of $8.0 billion; year-to-date recapture rate
    of 45%
  *New strategic initiatives to increase shareholder value and returns

Nationstar Mortgage Holdings Inc. (“Nationstar”), a leading residential
mortgage services company, today reported quarterly net income of $81.9
million, or $0.91 per share, for the third quarter 2013 compared to $55.1
million, or $0.61 per share, in the third quarter 2012.

Pro forma Q3’13 EPS was $1.08, after adjusting for $25.1 million in platform
ramp related to the previously announced servicing acquisition from Bank of
America (“BofA”) and other one-time transaction expenses. Pro forma Q3’13 EPS
was up in comparison to Q3’12 pro forma EPS of $0.64.

On a Non-GAAP basis, adjusted EBITDA (“AEBITDA”) for operating segments grew
38% to $169.7 million, or $1.88 per share, for the current quarter versus
$123.0 million, or $1.37 per share, in the third quarter 2012. In the current
quarter AEBITDA margin was 27%.

Nationstar’s servicing portfolio, as measured by unpaid principal balance
(“UPB”), ended the third quarter at $375 billion. Q3’13 ending UPB was up 90%
over Q3’12 ending UPB of $198 billion. Pro forma for the closing of the
remaining BofA PLS portfolios, and other servicing portfolios under contract,
Nationstar’s UPB is approximately $415 billion.

“In the third quarter overall Nationstar made good progress on multiple
fronts," said Jay Bray, Chief Executive Officer. "Servicing segment income
increased as we continued to grow the size and profitability of the portfolio.
Reflecting momentum in the build-out of our fee-based real estate services
business, Solutionstar revenue grew at an impressive rate. In the origination
segment, the interest rate volatility in the quarter negatively impacted loan
pipeline growth and gain-on-sale margins, resulting in a challenging
origination quarter.”

Bray continued, “The combination of servicing, Solutionstar, and originations
provides attractive return opportunities and a predictable, fee-based earnings
stream that should increase in value over the long term. Within originations,
we are focused on the profitable creation of servicing assets, hence our
forward emphasis on the core consumer-direct origination channel. Our
strategic initiatives target a lower cost operating model and the formation of
capital vehicles that will generate greater cash flows. I am confident in our
ability to execute as we remain focused on generating long-term shareholder
value."

Chief Financial Officer David Hisey said, “Our core servicing segment is ahead
of plan on our previously identified profitability goals which we expect will
generate increased segment earnings. Solutionstar remains focused on real
estate sales and its settlement services business while exploring additional
revenue growth and client diversification opportunities. We were not immune to
the fluctuation of interest rates in the quarter that negatively impacted
refinance volumes and gain-on-sale margins. We are adjusting our guidance for
2013 and 2014 to reflect the impact of market conditions on our origination
segment. Within this new guidance, servicing and Solutionstar will contribute
a majority percentage of earnings, resulting in more predictable cash flows
that should carry a premium valuation as compared to prior quarters when
originations was a larger component.”

                   GUIDANCE: AEBITDA and EARNINGS PER SHARE

                    For the year ending December 31,
                     2013 Range      2014 Range
AEBITDA per Share    $7.25 - 8.30     $13.50 - 15.00
Earnings per Share   $2.65 - 3.10     $4.50 - 6.00

In the prior guidance, the servicing segment was expected to contribute 45% of
earnings per share. In the updated guidance, the servicing segment is expected
to contribute 70% of earnings per share.

Strategic Initiatives:

Deliver a Lower Cost, Higher Margin Operating Model: Nationstar plans to
target its resources within those opportunities that deliver the greatest
return on investment, while implementing a more agile, lower cost operating
model. Nationstar remains focused on the highest margin consumer-direct
origination channel that includes recapture, Greenlight, and KB Home, and
continues to view the correspondent channel as a source of servicing and
purchase money opportunities.

Nationstar announced today that it has entered into a binding Letter of Intent
to sell its non-core wholesale and distributed retail origination channels to
Stonegate Mortgage, with the transaction expected to close later this month.
Additionally, as a result of increased productivity per employee and economies
of scale in the servicing segment, Nationstar is consolidating certain
locations. These changes in the servicing and origination segments along with
other corporate efficiencies will result in a headcount reduction of
approximately 1,100 employees, including employees who are expected to join
Stonegate, and a Q4’13 expense of approximately $16 million. Nationstar
expects approximately $63 million in annual cost savings as a result of these
initiatives. As a result of these changes, Nationstar expects Q4’13 to be a
transition period in the origination segment.

Develop Capital Vehicles that Generate Greater Cash Flows: Nationstar is
evaluating various structures that have the potential to generate increased
cash flows and lower Nationstar’s capital requirements. Targeted structures
would maximize balance sheet efficiency and net profitability. The capital
structures under consideration are subject to legal, regulatory approvals,
market conditions and other factors, and there are no assurances of
implementation.

Third Quarter Business Highlights

Servicing

Segment is on track to exceed pretax operating profitability targets as a
percentage of UPB of 5 basis points for 2013 and 10 basis points for 2014,
respectively. Servicing fee income of $357.3 million was up 151% versus the
prior year. Servicing fee income before fair value adjustments increased 102%
to $328.6 million in third quarter 2013 compared to $162.6 million in the
prior year. As shown in the servicing fee income table appended to this
release, the net increase in the fair value of mortgage servicing rights and
excess spread financing due to mark-to-market adjustments was $96.2 million.
The net decrease in fair value due to other changes, amortization, was $67.5
million. A majority of the MSR mark-to-market adjustment is due to a change in
estimate to include a portion of the expected ancillary income derived from
the disposition of REO properties.

The average portfolio UPB for the third quarter was $347 billion. Nationstar
completed the acquisition and boarding of a $62 billion PLS portfolio from
BofA and the remaining portfolio is expected to close and board over the next
60 days. Additionally, Nationstar has entered into definitive agreements with
two financial institutions to acquire servicing portfolios totaling $25
billion, of which $15 billion was previously subserviced by Nationstar. It is
expected that these portfolios will close during the fourth quarter. The
pipeline of bulk MSR purchase opportunities remains strong at $400 billion in
aggregate UPB. The macro-trends of increased regulation, higher capital
requirements, and banks repositioning their mortgage operations present growth
opportunities. Nationstar has executed flow agreements that are expected to
produce $20 billion of UPB in annual volume, and has a flow servicing pipeline
in excess of $55 billion of UPB.

Servicing pretax income increased 2,276% to $130.9 million compared to the
pretax income of $5.5 million in the year-ago quarter. Servicing pretax margin
was 31% in the current quarter. Pro forma servicing pretax income for the
quarter was $148.0 million after excluding BofA ramp and certain other
one-time transaction expenses of $17.1 million.

Servicing AEBITDA in the current quarter was $141.1 million compared to $42.1
million in third quarter 2012. Servicing AEBITDA margin was 34% in the current
quarter, and servicing AEBITDA as a percentage of UPB was 16 basis points.

Nationstar expects to complete a PLS servicer advance securitization in
November. This securitization is part of Nationstar’s programmatic advance
securitization initiative to reduce the cost of funding servicer advances.

Nationstar’s 60 day-plus delinquency rate decreased to 12.1% of UPB, down 300
basis points versus the prior year.

Solutionstar Update

Nationstar continues to diversify its service offerings through the growth of
Solutionstar, our high-margin, fee-based services business. Solutionstar is
focused on making the real estate sales process simple by creating a one-stop
transaction shop. Solutionstar sees a significant opportunity to build an
integrated digital marketplace that provides the full spectrum of real estate
services for property buyers, sellers, and agents/brokers.

Revenue for the quarter increased to $50.7 million, or $121.6 million
year-to-date. Revenue has increased by more than 55% since the first quarter.
Solutionstar is focused on expanding its third-party business beyond the 30%
of its overall revenue achieved year-to-date.

Originations

The interest rate volatility during the second and third quarters negatively
impacted refinance activity and gain-on-sale margins across the entire
mortgage industry. Nationstar’s origination segment was also impacted by the
volatile environment which caused downward pressure on gain-on-sale margins.

Despite the challenging environment, Nationstar funded $8.0 billion in Q3’13,
providing a source of quality, long-term servicing assets. Volume from the
consumer-direct channel was $4.5 billion, wholesale volume was $1.5 billion,
and correspondent volume was $2.0 billion.

The recapture rate was 43% in Q3’13, with a year-to-date average of 45%. At
quarter end, the total application pipeline was $10.9 billion and the locked
pipeline was $8.2 billion.

Revenue was $213.3 million in the quarter, with pretax income of $12.9 million
and AEBITDA of $28.6 million. Quarter-over-quarter trends in origination
volume and gain-on-sale compared favorably to the lower levels experienced
sequentially at major financial institutions, due to Nationstar’s focus on the
higher margin consumer-direct channel. Origination volume increased 13% over
Q2’13 while gain-on-sale as a percentage of funded volume was 265 basis
points. Within the core consumer-direct channel, gain-on-sale as a percentage
of funded volume was 400 basis points.

Originations expenses increased during the quarter primarily due to a full
quarter of expenses from Greenlight and expenses related to additional loan
fundings.

Conference Call Webcast and Investor Presentation

Chief Executive Officer, Jay Bray, and Chief Financial Officer, David Hisey,
will host a conference call for investors and analysts to discuss Nationstar’s
third quarter 2013 results and other general business matters at 9:00 a.m. ET
on Thursday, November 7, 2013. To listen to the event live or in an archive
which will be available for 14 days, visit Nationstar's website at
http://investors.nationstarholdings.com. The conference call will also be
accessible by dialing 800-299-9086, or 617-786-2903 internationally. Please
use the participant passcode 70733762 to access the live conference call. An
investor presentation will also be available at
http://investors.nationstarholdings.com.

Non-GAAP Financial Measures

This disclaimer applies to every usage of “Adjusted EBITDA” or “AEBITDA”, “Pro
forma Earnings per Share” or “Pro Forma EPS”, and “Servicing Fee Income before
fair value adjustments” in this release. Adjusted EBITDA is a key performance
metric used by management in evaluating the performance of our segments.
Adjusted EBITDA represents our Operating Segments' income (loss), and excludes
income and expenses that relate to the financing of our senior notes,
depreciable (or amortizable) asset base of the business, income taxes, and
exit costs from our restructuring and certain non-cash items. Adjusted EBITDA
also excludes results from our legacy asset portfolio and certain
securitization trusts that were consolidated upon adoption of the accounting
guidance eliminating the concept of a qualifying special purpose entity. 
Pro-forma EPS is a metric that is used by management to exclude certain
non-recurring items in an attempt to provide a better earnings per share
comparison to prior periods. Pro forma Q3’13 EPS excludes certain expenses
related to the acquisition of the $215 billion servicing portfolio from Bank
of America and other transaction related expenses. These expenses include the
advance hiring of servicing and originations staff, recruiting expenses,
travel, licensing and legal expenses. Pro forma pretax income is a metric that
is used by management to exclude certain non-recurring items in an attempt to
provide a better earnings per share comparison to prior periods. Servicing fee
income before fair value adjustments is a metric that is used by management in
an attempt to provide a better sense of the servicing fee income prior to any
changes in the fair value of servicing assets. Servicing fee income before
fair value adjustments excludes fair value adjustment due to valuation inputs
or assumptions for mortgage servicing rights and excess spread financing, and
the fair value adjustment due to other changes in fair value for mortgage
servicing rights and excess spread financing.

Financial Tables


NATIONSTAR MORTGAGE HOLDINGS INC. AND SUBSIDIARIES

UNAUDITED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

(dollars and shares in thousands, except per share data)
                             
                               Three months ended
                               September 30,   June 30, 2013  September 30,
                               2013                             2012
Revenues
Servicing fee income           $  341,679       $  263,309      $  142,482
Other fee income               84,203          57,795         3,129       
Total fee income               425,882          321,104         145,611
Gain on mortgage loans held    205,956         282,561        139,259     
for sale
Total revenues                 631,838          603,665         284,870
                                                                
Total expenses and             395,854          339,851         154,828
impairments
                                                                
Other income (expense)
Interest income                63,903           52,437          16,564
Interest expense               (168,215    )    (117,911    )   (65,015     )
Loss on equity investment      —                —               (733        )
Gain (loss) on interest rate   400             789            (1,077      )
swaps and caps
Total other income (expense)   (103,912    )    (64,685     )   (50,261     )
                                                                
Income before taxes            132,072          199,129         79,781
Income tax expense             50,187          75,669         24,714      
Net income                     81,885          123,460        55,067      
Other comprehensive income,
net of tax:
Change in value of             (407        )    1,819           —
designated cash flow hedge
Reclassification adjustment
for gain included in           —                —               423
earnings
Less: Net income
attributable to                —               —              —           
noncontrolling interests
Net income and comprehensive
income attributable to         $  81,478       $  125,279     $  55,490   
Nationstar Inc.
                                                                
Earnings per share:
Basic earnings per share       $  0.92         $  1.38        $  0.62     
Diluted earnings per share     $  0.91         $  1.37        $  0.61     
Weighted average shares:
Basic                          89,477           89,462          89,168
Dilutive effect of stock       921             890            597         
awards
Diluted                        90,398          90,352         89,765      
Dividends declared per share   —               —              —           

                                                             
NATIONSTAR MORTGAGE HOLDINGS INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(dollars in thousands)
                                                                 
                           September 30, 2013   June 30, 2013    September 30,
                                                                 2012
Assets                     (unaudited)          (unaudited)      (unaudited)
Cash and cash              $   275,251          $ 385,938        $  430,815
equivalents
Restricted cash            741,689              405,462          258,858
Accounts receivable        7,575,612            3,448,543        2,852,985
Mortgage loans held for    3,868,460            4,018,241        703,214
sale
Mortgage loans held for
investment, subject to     213,381              257,168          238,178
nonrecourse debt -
Legacy Assets, net
Reverse mortgage           1,225,866            1,086,024        452,886
interests
Mortgage servicing         2,221,451            1,627,330        600,728
rights
Property and equipment,    110,199              100,699          48,714
net
Derivative financial       292,320              383,210          112,628
instruments
Other assets               543,843             275,766         242,225
Total assets               $   17,068,072      $ 11,988,381    $  5,941,231
                                                                 
Liabilities and equity
Notes payable              $   10,003,832       $ 6,168,937      $  2,532,316
Unsecured senior notes     2,444,112            1,969,163        1,062,423
Payables and accrued       1,260,499            1,222,063        762,268
liabilities
Derivative financial       205,849              46,745           37,835
instruments
Mortgage servicing         82,521               82,623           82,313
liabilities
Nonrecourse debt -         92,099               95,729           101,898
Legacy Assets
Excess spread financing    946,614              570,497          255,484
(at fair value)
Participating interest     996,255             880,234         415,448
financing
Total liabilities          $   16,031,781      $ 11,035,991    $  5,249,985
                                                                 
Total Nationstar Inc.      1,031,301            947,400          691,246
stockholders' equity
Noncontrolling interest    4,990               4,990           —
Total equity               1,036,291           952,390         691,246
Total liabilities and      $   17,068,072      $ 11,988,381    $  5,941,231
equity

                             
SERVICING FEE INCOME BEFORE FAIR VALUE ADJUSTMENTS RECONCILIATION

(dollars in thousands)
                               
                               Three months ended
                               September 30,   June 30, 2013  September 30,
                               2013                             2012
                                                                
Total servicing fee income
before MSR fair value          $  328,576       $  275,460      $  162,593
adjustments
Fair value adjustments due
to valuation inputs or
assumptions
Mortgage servicing rights      100,203          118,362         8,355
Excess spread financing        (3,964      )    (58,471     )   (11,064     )
Net change in FV due to
valuation inputs or            96,239           59,891          (2,709      )
assumptions
Fair value adjustments due
to other changes in fair
value (amortization)
Mortgage servicing rights      (85,946     )    (85,486     )   (30,785     )
Excess spread financing        18,407          34,690         13,277      
Net change in FV due to
other changes in fair value    (67,539     )    (50,796     )   (17,508     )
(amortization)
                                                                
Servicing fee income           357,276          284,555         142,376
                                                                
Other fee income               61,036          50,388         7,190       
Total servicing fee income     $  418,312      $  334,943     $  149,566  

                     
PRO-FORMA EARNINGS PER SHARE RECONCILIATION

(dollars and shares in thousands, except per share data)
                       
                       Three months ended
                       September 30, 2013  June 30, 2013  September 30, 2012
                                                            
Net income             $    81,885          $  123,460      $    55,067
Income taxes           50,187              75,669         24,714         
Income before taxes    132,072              199,129         79,781
Portfolio
acquisition ramp       25,069              19,387         3,888          
expenses
Pro forma pretax       157,141              218,516         83,669
income
                                                            
Income taxes (using
Q3’13, Q2’13 and       (59,713        )     (83,036     )   (25,918        )
Q3’12 tax rate)
Pro forma income       97,428              135,480        57,751         
                                                            
Average share count    90,398               90,352          89,765
                                                            
Pro forma EPS          $    1.08            $  1.50         $    0.64

                              
AEBITDA RECONCILIATION

(dollars and shares in thousands, except per share data)
                                
                                Three months ended
                                September 30,   June 30, 2013  September 30,
                                2013                             2012
                                                                 
Net income                      $  81,885        123,460         55,067
Plus:
Net loss from Legacy            11,683           7,470           2,874
Portfolio and Other
Income tax expense              50,187          75,669         24,714     
Net income from Operating       $  143,755       $  206,599      $  82,655
Segments
Adjust for:
Interest expense from           46,136           39,073          17,656
unsecured senior notes
Depreciation and amortization   6,338            5,190           2,772
Change in fair value of         (14,257     )    (32,876     )   22,430
mortgage servicing rights
Amortization/accretion of       (92         )    (275        )   (2,652     )
reverse mortgage servicing
Share-based compensation        2,416            2,840           2,623
Fair value changes on excess    (14,443     )    23,781          (2,213     )
spread financing
Fair value changes in           (187        )    (639        )   (236       )
derivatives
Adjusted EBITDA                 169,666         243,693        123,035    
Adjusted EBITDA per share       $  1.88         $  2.70        $  1.37    
Earnings per share              $  0.91         $  1.37        $  0.61    

                 
SEGMENT AEBITDA AND PRO FORMA PRETAX INCOME RECONCILIATION

(dollars in thousands)
                   
                   For quarter ended September 30, 2013
                   Servicing  Origination  Operating  Legacy     Total
                                                                     
Adjusted EBITDA    141,056     28,609        169,666     (11,324 )   158,342
                                                                     
Interest expense
on corporate       (33,520 )   (12,616   )   (46,136 )   (3      )   (46,138 )
notes
MSR valuation      14,257      —             14,257      —           14,257
adjustment
Excess spread      14,443      —             14,443      —           14,443
adjustment
Amortization of
mortgage           92          —             92          —           92
servicing
obligations
Depreciation &     (4,106  )   (2,232    )   (6,338  )   (657    )   (6,995  )
amortization
Stock-based        (1,542  )   (874      )   (2,416  )   (6      )   (2,422  )
compensation
Fair value
adjustment for     93          —             93          307         400
derivatives
Hedge              94         —            94         —          94      
ineffectiveness
Pretax income      130,867     12,888        143,755     (11,683 )   132,072
(loss)
Income tax                                                           50,187  
Net income                                                           81,885  
(loss)
                                                                     
Pretax income      130,867     12,888        143,755     (11,683 )   132,072
(loss)
Ramp expenses      17,124     7,945        25,069     —          25,069  
Pro forma pretax   147,991     20,833        168,824     (11,683 )   157,141
income (loss)
                                                                     
Earnings per                                                     $  0.91 
share
Pretax income      $  1.45    $   0.14     $  1.59    $ (0.13 )   $  1.46 
per share
AEBITDA per        $  1.56    $   0.32     $  1.88    $ (0.13 )   $  1.75 
share

                 
SEGMENT AEBITDA AND PRO FORMA PRETAX INCOME RECONCILIATION (continued)

(dollars and shares in thousands, except per share data)
                   
                   For quarter ended June 30, 2013
                   Servicing  Origination  Operating  Legacy     Total
                                                                     
Adjusted EBITDA    109,405     134,288       243,693     (7,060  )   236,633
                                                                     
Interest expense
on corporate       (28,945 )   (10,128   )   (39,073 )   (1      )   (39,074 )
notes
MSR valuation      32,876      —             32,876      —           32,876
adjustment
Excess spread      (23,781 )   —             (23,781 )   —           (23,781 )
adjustment
Amortization of
mortgage           275         —             275         —           275
servicing
obligations
Depreciation &     (3,423  )   (1,767    )   (5,190  )   (600    )   (5,790  )
amortization
Stock-based        (1,721  )   (1,119    )   (2,840  )   (21     )   (2,861  )
compensation
Fair value
adjustment for     577         —             577         212         789
derivatives
Hedge              61         —            61         —          61      
ineffectiveness
Pretax income      85,324      121,275       206,599     (7,470  )   199,128
(loss)
Income tax                                                           75,669  
Net income                                                           123,459 
(loss)
                                                                     
Pretax income      85,324      121,275       206,599     (7,470  )   199,128
(loss)
Ramp expenses      14,427     4,960        19,387     —          19,387  
Pro forma pretax   99,751      126,235       225,986     (7,470  )   218,515
income (loss)
                                                                     
Earnings per                                                     $  1.37 
share
Pretax income      $  0.94    $   1.34     $  2.29    $ (0.08 )   $  2.20 
per share
AEBITDA per        $  1.21    $   1.49     $  2.70    $ (0.08 )   $  2.62 
share

                 
                   For quarter ended September 30, 2012
                   Servicing  Origination  Operating  Legacy     Total
                                                                     
Adjusted EBITDA    42,121      80,914        123,035     (1,347  )   121,688
                                                                     
Interest expense
on corporate       (15,707 )   (1,949   )    (17,656 )   —           (17,656 )
notes
MSR valuation      (22,430 )   —             (22,430 )   —           (22,430 )
adjustment
Excess spread      2,213       —             2,213       —           2,213
adjustment
Amortization of
mortgage           2,652       —             2,652       —           2,652
servicing
obligations
Depreciation &     (2,006  )   (766     )    (2,772  )   (201    )   (2,973  )
amortization
Stock-based        (1,570  )   (1,053   )    (2,623  )   (13     )   (2,636  )
compensation
Fair value
adjustment for     236        —            236        (1,313  )   (1,077  )
derivatives
Pretax income      5,509       77,146        82,655      (2,874  )   79,781
(loss)
Income tax                                                           24,714  
Net income                                                           55,067  
(loss)
                                                                     
Earnings per                                                     $  0.61 
share
Pretax income      $  0.06    $  0.86      $  0.92    $ (0.03 )   $  0.89 
per share
AEBITDA per        $  0.47    $  0.90      $  1.37    $ (0.02 )   $  1.36 
share

About Nationstar Mortgage Holdings Inc.

Based in Lewisville, Texas, Nationstar offers servicing, origination, and real
estate services to financial institutions and consumers. Nationstar is one of
the largest servicers in the United States and operates an integrated loan
origination business that mitigates servicing portfolio run-off and improves
credit performance for loan investors. Our Solutionstar business unit offers
asset management, settlement, and processing services. Additional corporate
information is available at www.nationstarholdings.com.

Forward Looking Statements

Any statements in this release that are not historical or current facts are
forward-looking statements. Forward-looking statements include, without
limitation, statements concerning plans, objectives, goals, projections,
strategies, future events or performance, and underlying assumptions and other
statements, which are not statements of historical facts. Forward-looking
statements convey Nationstar’s current expectations or forecasts of future
events. When used in this release, the words “anticipate,” “appears,”
“believe,” “foresee,” “intend,” “should,” “expect,” “estimate,” “target,”
“project,” “plan,” “may,” “could,” “will,” “are likely” and similar
expressions are intended to identify forward-looking statements. These
statements involve predictions of our future financial condition, performance,
plans and strategies, and are thus dependent on a number of factors including,
without limitation, assumptions and data that may be imprecise or incorrect.
Specific factors that may impact performance or other predictions of future
actions have, in many but not all cases, been identified in connection with
specific forward-looking statements. Forward-looking statements involve known
and unknown risks, uncertainties and other factors that may cause Nationstar’s
actual results, performance or achievements to be materially different from
any future results, performances or achievements expressed or implied by the
forward-looking statements. Certain of these risks and uncertainties are
described in the “Risk Factors” section of Nationstar’s Form 10-K for the year
ended December 31, 2012, and other filings Nationstar makes with the SEC,
which are available at the SEC’s website at http://www.sec.gov. We caution you
not to place undue reliance on these forward-looking statements that speak
only as of the date they were made. Unless required by law, Nationstar
undertakes no obligation to publicly update or revise any forward-looking
statements to reflect circumstances or events after the date of this release.

Contact:

Nationstar Mortgage Holdings Inc.
Marshall Murphy, 469-549-3005
 
Press spacebar to pause and continue. Press esc to stop.