NRZ - New Residential Q3 core EPS falls short as interest income slides

New Residential Investment (NRZ) falls 1.5% in premarket trading after Q3 core EPS of 31 cents misses the average analyst estimate of 36 cents and slipped from 34 cents in Q2 2020.Q3 revenue of $685.0M beats the consensus estimate of $623.2M and increased from $627.9M a year ago; includes gain on originated mortgage loans, held for sale, net, of $495.1M vs. $126.7M a year earlier.Q3 interest income of $233.8M fell from $448.1M a year earlier.Q3 servicing revenue, net of change in fair value, was -$43.9M vs. $53.1M in the year-ago quarter; change in fair value was -$395M in Q3 2020 and -$228M in Q3 2019.Q3 origination segment pretax income of $312.3M increased 72% Q/Q; origination production of $18.1B in unpaid principal balance rose 118% Q/Q.Q3 servicing pretax net income of $30.3M, up 24% Q/Q.Mortgaging servicing rights portfolio totaled ~$571B UPB as of Sept. 30, 2020 vs. $610B UPB as of June 30, 2020.In

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New Residential Q3 core EPS falls short as interest income slides