Fitch warns Ocwen-related RMBS deals face major downgrade

Fitch warns Ocwen-related RMBS deals face major downgrade

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Servicing / The Ticker

Nationstar and Walter Investment stocks tumble alongside Ocwen

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Servicer stocks had a tough week. According to Seeking Alpha, after Ocwen Financial’s (OCN) stocks experienced close to a 10% two-day tumble, Nationstar (NSM) and Walter Investment Corp. (WAC) stocks also declined.

An interesting exchange on the earnings call (transcript) has analyst Ryan Zacharia puzzled about management blaming the OneWest and ResCap onboarding for the slow revenue number and margin fall. In Zacharia's mind, this timing was fully expected and he's curious for maybe something else behind the miss.

Source: Seeking Alpha
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