NRZ - New Residential Investment stock climbs after Q4 servicing revenue soars
New Residential Investment (NYSE:NRZ) stock gains 4.4% in premarket trading after its Q4 revenue beat the consensus estimate as its net servicing revenue surged 59% from Q3. Q4 core EPS of $0.40 matched the average analyst estimate and declined from $0.44 in Q3. Revenue of $1.10B increased from $952.7M and topped the consensus of $984.9M. Q4 origination segment pretax income of $101.5M fell from $177.5M in Q3. Q4 total origination funded production was $38.1B in unpaid principal balance, up 10% from Q3. Total gain on sale margin of 1.65% rose from 1.61% in Q3. Q4 servicing segment pretax income of $127.5M increased from $15.0M in Q3. Servicing net revenue of $310.2M jumped from $195.3M in the previous quarter. Servicing portfolio increased to $483B in UPB, up 1.5% Q/Q. The company acquired ~$908M of early buyout loans and redelivered $868 of EBO loans for gains of ~$31M. Mortgage servicing rights portfolio
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New Residential Investment stock climbs after Q4 servicing revenue soars