Is the Loan Servicing Industry Where Its At For Investors?

 

Walter Investment Management Corp. (WAC) has been on a tear since last August after limping along following a gentle decline from 2004 to 2007 and a steep fall in 2007 and 2008, along with the rest of the mortgage-related world.

WAC’s shares closed at $21.59 on August 1, 2012 and $46.60 on January 10, 2013.  Not too shabby.  So what has happened in the meantime?

  • WAC bought Reverse Mortgage Solutions
  • WAC conducted a $250+ million public offering
  • WAC and Ocwen Financial Corp. won a $3 billion bankruptcy auction for Residential Capital LLC’s loan servicing unit (Ed:  Heh, ‘unit’)
  • WAC bought Security One Lending in a small $31 million deal
  • Today, WAC announced its acquisition of mortgage servicing rights from Bank of America for about $519 million.

Apparently the servicing industry is in recovery. Fannie Mae/Mac settlements with Bank of America don’t hurt.

A different kind of service industry

Sexy waitresses dances for a guy. Wait for the twist (plot twist, not the Chubby Checker dance.
More classic Waitresses, “I Know What Boys Like”. They know, I don’t.

 

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One Response to Is the Loan Servicing Industry Where Its At For Investors?

  1. Hello to every body, it’s my first go to see of this blog; this blog consists of remarkable and really good data in support of readers.

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