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Investments / The Ticker

Nationstar stock falls after downgrade

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Nationstar Mortgage Holdings (NSM) experienced a volatile day on the stock market after FBR Capital Markets announced it downgraded the mega servicer to ‘market perform’ from ‘outperform.’

Nationstar’s stock fell 3.08% by the end of the day and is down 14.07% year-over-year. 

As HousingWire reported earlier in the day, FBR Capital Markets moved its rating for NSM on slowing originations in the first part of the year.

"While we believe that the mortgage market will pick up in 2H14, the first half of the year is likely to be a tough one for those companies whose earnings are sensitive to originations," FBR Capital Managing Director Paul Miller wrote.

But it's not all bad news for the mortgage servicer.

Miller noted that the company does have great potential for higher servicing profitability, but it currently remains immersed in an organizational clean up.

So how does Nationstar fare against other servicers?

Ocwen Financial Corp. (OCN) concluded the day up 0.98%, compared to Walter Investment Management Corp. (WAC), which finished the day down 0.27%.

Overall, the stock market remained fairly silent on Tuesday coming out of the holiday weekend.

The HW 30—HousingWire’s exclusive list of mortgage related stocks—finished the day up a meager 0.04%. 

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