Karen Finnerman bought NRZ too..same business as HLSS
we were looking for what's a pure play, it was hard to find an absolute pure, but we found a couple. Home
Voice recognition from CNBC video so not so great
Karen said she was buying.....Loans Servicing, HLSS, home loan servicing solutions. 7.41% yield. they have a gigantic portfolio, and as rates rise, they'll see less prepayment so the flow of funds, the revenue stream will last for longer. This one is interesting. Another one New Rresidential Investment NRZ, this is one that is backed by Fortress. They're managing it. also has big exposure to mortgage servicing rights.
If we see prepayments slow, servicing rights will be worth more and so many banks that need to get that capital off -- to have freed up capital.
let me get your thoughts.OCN i was trying to think of where i remember that stock from two people mentioned it. steve eisman was the one that presented it. i can't remember. but somebody else did. i don't remember, but it came up, i'll tell you that, at least twice. What they do is they service the loans that aren't clean where there's some issue, they're in foreclosure, something going on. so they are just acquiring rights from everyone and they're just creating this income stream that's very powerful. Josh brown said, one capper that i would i think karen's right on the money with those plays. i know a lot of people sniffing around them.