FILE - In a Tuesday, Aug. 14, 2012, file photo, aperson walks toward a Home Depot in Nashville, Tenn. Home Depot’s fiscal fourth-quarter net income surged 32 percent, the home improvement retailer said Tuesday Feb. 26, 2013. (AP Photo/Mark Humphrey, File)
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FILE - In a Tuesday, Aug. 14, 2012, file photo, aperson walks toward a Home Depot in Nashville, Tenn. Home Depot’s fiscal fourth-quarter net income surged 32 percent, the home improvement retailer said Tuesday Feb. 26, 2013. (AP Photo/Mark Humphrey, File)
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FILE - In a Nov. 14, 2011 file photo customers enter and exit a Lowe's store in Saugus, Mass. Home improvement retailer Lowe’s Cos. said Monday, Feb. 25, 2013, cleanup efforts after Superstorm Sandy and its new pricing strategy helped its fourth-quarter net income surpass expectations. (AP Photo/Michael Dwyer, file)
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In this Thursday, Dec. 13, 2012 photo, amazon shipments are packaged in Koblenz, Germany. Amazon’s fourth-quarter net income fell 45 percent, as sharply higher revenue failed to keep pace with increased spending on order fulfillment and digital content, a trend that’s become the norm for the world’s largest online retailer. (AP Photo/dapd, Harald Tittel)
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FILE - In this Monday, Jan. 7, 2013, file photo, a man walks past the Intel booth at the International Consumer Electronics Show in Las Vegas.. Intel Corp., the world's largest chipmaker, on Thursday, Jan. 17, 2013, said its fourth-quarter net income fell 27 percent from the previous year, as PC sales continued to weaken. (AP Photo/Jae C. Hong, File)
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FILE - In this Monday, Dec. 10, 2012, file photo, workers sort packages at a FedEx sorting facility in Kansas City, Mo. FedEx is more pessimistic about the U.S. economy than it was three months ago, but more assured of its own ability to grow earnings. The world's second-largest package delivery company lowered its economic forecast for the U.S., saying that there remains a lot of uncertainty for the company and the country. Its forecast for the current quarter, which incorporates the critical holiday season, falls short of Wall Street expectations. (AP Photo/Charlie Riedel, File)
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FILE - In this Monday, Dec. 10, 2012, file photo, workers sort packages at a FedEx sorting facility in Kansas City, Mo. FedEx is more pessimistic about the U.S. economy than it was three months ago, but more assured of its own ability to grow earnings. The world's second-largest package delivery company lowered its economic forecast for the U.S., saying that there remains a lot of uncertainty for the company and the country. Its forecast for the current quarter, which incorporates the critical holiday season, falls short of Wall Street expectations. (AP Photo/Charlie Riedel)
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FILE - In this Tuesday, Dec. 11, 2012 file photo, FedEx workers unload packages from a cargo plane at the Oakland Regional Sort Facility in Oakland, Calif. FedEx is more pessimistic about the U.S. economy than it was three months ago, but more assured of its own ability to grow earnings. The world's second-largest package delivery company lowered its economic forecast for the U.S., saying that there remains a lot of uncertainty for the company and the country. Its forecast for the current quarter, which incorporates the critical holiday season, falls short of Wall Street expectations. (AP Photo/Ben Margot, File)
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FILE - In this Feb 21, 2012, file photo, a customer shops at Lowe's in New York. Lowe's said Monday, Nov. 19, 2012, its third-quarter net income surged 76 percent, helped by fewer charges and higher revenue. Its shares rose 5 percent in early premarket trading Monday. (AP Photo/Mark Lennihan, File)
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FILE - In this Aug. 14, 2012, file photo, a customer walks past building products at a Home Depot store in Nashville, Tenn. A boost from the gradually recovering housing market helped Home Depot's net income edge up in its fiscal third quarter_the world's biggest home-improvement retailer said Tuesday, Nov. 13, 2012, that its net income rose to $947 million, or 63 cents per share for quarter that ended Oct. 28. (AP Photo/Mark Humphrey, File)
Nationstar Mortgage 4Q net income jumps 4-fold
LEWISVILLE, Tenn. (AP) — Nationstar Mortgage Holdings Inc.'s net income increased four-fold in the fourth quarter as it took in more fees from mortgage borrowers whose payments it collects.
Shares dropped 3 percent in morning trading.
Nationstar's net income in the three months ended Dec. 31 rose to $63.8 million, or 71 cents per share, from $14.9 million, or 21 cents per share, a year earlier.
Revenue grew 284 percent, to $332.6 million from $118.6 million.
Much of the increase came from gains on mortgage loans that the company plans to resell. Nationstar originated far more mortgages because of a "favorable market environment."
Mortgage origination volumes have been increasing industry-wide as the housing market recovers in many parts of the country.
The results were far stronger than Wall Street had expected. Analysts surveyed by FactSet had anticipated earnings of 69 cents per share on revenue of $284.6 million.
For the year, Nationstar earned net income of $205.3 million, or $2.40 per share, on revenue of $582.0 million.
Nationstar, based in Lewisville, Texas, collects monthly payments on more than $300 billion worth of home loans. It purchases the rights to service these mortgages from banks and other companies that made the loans. Nationstar also originates mortgages.
Shares fell $1.32, or 3.2 percent, to $39.74 in morning trading.
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