Nationstar Mortgage LLC

CIK:0001507951|SEC Filings

Consolidated Statements of Operations and Comprehensive Income (Unaudited) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2012	Mar. 31, 2011
Revenues:
Servicing fee income	$ 83,950	$ 56,488
Other fee income	7,253	8,198
Total fee income	91,203	64,686
Gain on mortgage loans held for sale	70,512	20,506
Total revenues	161,715	85,192
Expenses and impairments:
Salaries, wages and benefits	61,665	46,923
General and administrative	29,112	15,564
Provision for loan losses	753	1,128
Loss on foreclosed real estate	2,265	2,247
Occupancy	2,782	2,259
Total expenses and impairments	96,577	68,121
Other income (expense):
Interest income	13,441	18,318
Interest expense	(24,980)	(25,368)
Loss on interest rate swaps and caps	(268)
Fair value changes in ABS securitizations		(2,652)
Total other income (expense)	(11,807)	(9,702)
Income before taxes	53,331	7,369
Income tax expense	21,273
Net income	32,058	7,369
Other comprehensive income, net of tax:
Change in value of designated cash flow hedge		139
Comprehensive income	$ 32,058	$ 7,508

Consolidated Statement of Cash Flows-Supplemental Disclosure	3 Months Ended
Mar. 31, 2012
Consolidated Statement of Cash Flows-Supplemental Disclosure [Abstract]
Consolidated Statement of Cash Flows-Supplemental Disclosure	4. Consolidated Statement of Cash Flows-Supplemental Disclosure Total interest paid for the three months ended March 31, 2012 and 2011 was approximately $14.0 million and $16.5 million, respectively. There were no income taxes paid for the three months ended March 31, 2012 and 2011.

Consolidated Statement of Cash Flows-Supplemental Disclosure

3 Months Ended

Mar. 31, 2012

Consolidated Statement of Cash Flows-Supplemental Disclosure [Abstract]

Consolidated Statement of Cash Flows-Supplemental Disclosure

4. Consolidated Statement of Cash Flows-Supplemental Disclosure

Total interest paid for the three months ended March 31, 2012 and 2011 was approximately $14.0 million and $16.5 million, respectively. There were no income taxes paid for the three months ended March 31, 2012 and 2011.

Consolidated Balance Sheets (USD $) In Thousands, unless otherwise specified	Mar. 31, 2012	Dec. 31, 2011
Assets
Cash and cash equivalents	$ 355,994	$ 62,445
Restricted cash	108,854	71,499
Accounts receivable	521,615	562,300
Mortgage loans held for sale	378,561	458,626
Mortgage loans held for investment, subject to nonrecourse debt - Legacy Assets, net of allowance for loan losses of $6,318 and $5,824, respectively	241,239	243,480
Reverse mortgage interests	148,365	0
Receivables from affiliates	13,148	4,609
Mortgage servicing rights - fair value	266,169	251,050
Property and equipment, net of accumulated depreciation of $40,740 and $39,201, respectively	25,106	24,073
Real estate owned (REO), net	5,720	3,668
Other assets	113,991	106,181
Total assets	2,178,762	1,787,931
Liabilities and members' equity
Notes payable	767,754	873,179
Unsecured senior notes	280,568	280,199
Payables and accrued liabilities	259,445	183,789
Derivative financial instruments	7,240	12,370
Mortgage servicing liabilities - amortized cost	17,102	0
Nonrecourse debt - Legacy Assets	109,794	112,490
Excess spread financing (at fair value)	47,324	44,595
Participating interest financing	114,322	0
Total liabilities	1,603,549	1,506,622
Commitments and contingencies - See Note 16
Members' units	575,213	281,309
Total members' equity	575,213	281,309
Total liabilities and members' equity	$ 2,178,762	$ 1,787,931