No worries. Remember, I'm just one opinion and you should do your own due diligence when investing. Banks ( except for Wells Fargo and to an extent JPM Chase ) are off loading their loan servicing portfolios. In most cases, first their sub prime loans. Companies like NSM, WAC, and OCN have all become something in the industry by raising funds and buying these loans. They are more pure players that can specially focus on servicing and amending these types of loans. They make a % for servicing... but they don't have the loans on their books. So, defaults have a minimal effect on them. In addition, if they are able to re-contruct a bad loan and get the homeowner to start paying again, then... it's more money for the servicing companies. The question is....... can these Companies integrate all these billions of loans into their system and manage them effectively enough to make an immediate profit. Once, they do show that.... then P/E's will look so much better and the equity will raise. Fortress owns most of NSM. So, that makes for a small float and it creates daily swings. Long term, I believe this stock will raise nicely. Trading it now is probably the way to go. But, if they announce a profitable qtr or buy another large portfolio, it'll jump by dollars.
There is limited news on these companies because most analysts still don't fully understand the impact they will have in the industry. Retail ( you and me ) will be last to join. Hence the very limited message board slop.