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Walter Investment Management Corp. Message Board

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  • Reply to

    Guidance from Q2 Conference

    by rdravin Aug 11, 2014 11:37 AM

    Even with $1 per quarter, the upcoming PE is ;less than 7 and the mounting cash is more than $17. It is hard to believe WAC will not buyback stock soon.

    Sentiment: Buy

  • Why not? Sitting on so much cash!: Just spin off MSRs and Assets. A happy ending for shareholders.

  • WAC's stock price continues to be affected by both the investigation woes befalling OCN, as well as the heightened regulatory scrutiny (and costs) of the industry. Yet the cross dealing issues at OCN are not an issue for WAC and the heightened regulatory scrutiny (and costs) are actually an ADVANTAGE for WAC. Smaller players who do not have the scale (or operational expertise) will continue to exit the business by selling MSRs. Yet the price PAID for said MSRs will have to drop, since the costs to service have risen (unless you have scale). So going forward, WAC is in the catbird seat since there will still be anxious sellers; the price will have dropped; and more than likely OCN will be boxed out of the bidding...and of course, in a rising rate environment, the value of MSRs goes up, as prepayment rates decline.

    Sentiment: Strong Buy

  • Reply to

    Guidance from Q2 Conference

    by rdravin Aug 11, 2014 11:37 AM

    Except for the fact that they have already booked $3.39 of the $5.50. THAT LEAVES EARNINGS OF $2.11 PER SHARE TO BE DIVIDED BETWEEN THE NEXT TWO QTrs. An average of $1.06 per qtr doesn't look very promising. I was a fan, but the writing is on the wall--earnings are going down qtr over qtr and the stock price is going to ultimately reflect that. IMHO use any strength to get out.

  • Reply to

    No Respect for Compass point

    by sme20_98 May 15, 2014 3:01 PM

    Hey three stooges, don't look now but it#$%$ $23. What did you expect with a crooked company like Green Tree screwing all their customers, which continue to flee for their financial lives before this company screw up their credit scores. Try talking with a Green Tree rep whose only qualification is that must not have an IQ above 60 before investing in a #$%$ company like WAC.

  • Stated 2014 guidance was low to midpoint of EPS range 5.25 to 6.25. Mean would be 5.50.

    Analyst EPS estimate is 5.23.

    Thus, with all the adjustments, WAC is guiding to 5.50 vs. analyst guess of 5.23. Seems positive.

    Sentiment: Buy

  • Reply to

    As Scrutiny Mounts article

    by rdravin Jul 30, 2014 3:59 PM

    The article was at Reuters July 30.
    See http://www.reuters.com/article/2014/07/30/mortgage-servicers-lending-idUSL4N0Q555W20140730

    Sentiment: Buy

  • Reply to

    As Scrutiny Mounts article

    by rdravin Jul 30, 2014 3:59 PM

    Where is the article you are talking about?

  • Within the article on mortgage servicers, they discuss intrinsic value:

    Ocwen's intrinsic valuation is $45.39, versus the stock's close of $35.17 on Tuesday, according to StarMine. Based on the same model, Nationstar is worth $52.83 versus a close of $31.95 and Walter offers even better prospects: $79.96 versus $28.92.

    All we need is a good faith dividend.

    Sentiment: Strong Buy

  • Reply to

    Wells Fargo downgrades

    by rdravin Jul 16, 2014 10:31 AM

    Well Fargo must have been the big buyer today. Gotta love those bs upgrades and downgrades.

  • Reply to

    Wells Fargo downgrades

    by rdravin Jul 16, 2014 10:31 AM

    WAC should be divided into three Co with one of non-agency MRITs. The values of the combined Companies will be double from here.

  • Reply to

    Wells Fargo downgrades

    by rdravin Jul 16, 2014 10:31 AM

    What has changed all of a sudden to cause a downgrade? Seems rather suspect to me.

    I understand the DCF and implications of a run-off in servicing rights but the six or seven year life of these rights doesn't speak to the fact that they are always adding MSR balances to their pile via acquisitions and originations. Via originations would be the key here as this is organic. UPB of MSRs should be greater at the end of Q2 vs Q1.

    Also, equally important is the Originations business which is generating annual ebitda at a $128mm rate. This is worth a billion at an eight times multiple. Net of associated debt this has to be worth something $600mm, $800mm? WAC market cap is barely over $1B.

    It all looks rather bullish. I guess what bothers me at the moment is the $36mm in interest expense that went unallocated to any of their segments. I mean what is this debt supporting?

  • Reply to

    Wells Fargo downgrades

    by rdravin Jul 16, 2014 10:31 AM

    Why would they not mention OCN and keep a buy rating on HLSS and PFSI? Smells fishy to me!!

  • Reply to

    Wells Fargo downgrades

    by rdravin Jul 16, 2014 10:31 AM

    The 5.3 and 5.8 numbers represent core earnings, not GAAP. I wouldn't pay attention to Yahoo's numbers. The GAAP EPS for Q1 2014 was $0.45. I guarantee Q2 will be better because the Originations business picked up when rates dropped. If the stock is trading under 30 when the next report is released, I expect another 15-20% pop like we saw after the Q1 report. I'm on the verge of selling my AAPL stock and doubling down on WAC. I'm glad Wells downgraded. A lower price just gives me more shares when the next report is released.

  • Well Fargo downgrades WAC with new price target 22-24.

    I wonder what type of eps estimates they have. Street mean estimates for this $27 stock are $5.3 in 2014, $5.8 in 2015.

    If WAC would distribute a small dividend, given eps, they would skyrocket.

    LOL

    Sentiment: Strong Buy

  • Reply to

    WAC sucks

    by stanhowser Jun 6, 2014 3:49 PM

    With over 7 thousand complaints on social media sites WAC has a serious issue and the complaints are very parallel to each other. Fitch lowered the rating for WAC, Leonard Law Group class action win in April 2013, pending class action lawsuits coming down the pike, CFPB set to hand down lawsuits, time to stop ignoring the extortion shenanigans against homeowners at the hands of Green Tree Servicing employees pressured to meet their daily quotas. Fairbanks capital was put out of business years ago for the exact same things this company has done to its homeowners. Mortgage servicing fraud is real and the response defending the fact that they do not call until the 9th is bogus. Laws are there for the servicers to follow and they think they are above the law.

    Sentiment: Sell

WAC
23.59-0.82(-3.36%)Sep 19 4:15 PMEDT

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