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Jeb Bush: Current housing and debt situation unsustainable

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Senate banking committee passes massive regulatory relief bill

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Items Tagged with 'Walter Investment'

ARTICLES

Walter Investment posts 1Q net income of $38.3M

Declining revenue of $310M misses analyst expectations
Trey Garrison
Walter Investment Management Corp. reported GAAP net loss for the first quarter of 2015 of ($31.0) million, or ($0.82) per diluted share, compared to net income of $17.4 million, or $0.45 per share for the first quarter of 2014. Adjusted earnings for the quarter were $38.3 million. Here’s where things went sideways.
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Nationstar’s surprise 1Q loss pulls down nonbank servicers

NSM drops below 52-week low in afternoon trading
Trey Garrison
All the major nonbank mortgage servicers were bleeding in trading through early afternoon, after Nationstar Mortgage Holdings reported its first-quarter surprise loss. Here's where the red ink is spilling.
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ditech promotes Doug Wilken to divisional manager

Will oversee central region
Ben Lane
In this new role, Wilken will oversee sales in Texas, Oklahoma, Kansas, Missouri, Illinois, Indiana, Ohio, Michigan, Wisconsin and Minnesota.
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What’s the impact of Green Tree’s $63 million fine?

Moody’s weighs in on company’s future
Ben Lane
Unsurprisingly, Green Tree Servicing could be facing several negative outcomes, including a potential downgrade to its servicer ratings, in the wake of its $63 million fine from the Consumer Financial Protection Bureau and the Federal Trade Commission. A new report by Moody's details what could be in Green Tree's future.
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CFPB and FTC fine Green Tree $63 million for “mistreating borrowers”

CFPB: Green Tree harassed and threatened overdue homeowners
Ben Lane
The Consumer Financial Protection Bureau and the Federal Trade Commission are taking action against Green Tree Servicing for “mistreating borrowers” who were attempting to save their homes from foreclosure. According to the CFPB and the FTC, Green Tree failed to honor modifications for loans transferred from other servicers, demanded payments before providing loss mitigation options, delayed decisions on short sales, and harassed and threatened overdue borrowers. Here is Green Tree's response.
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Green Tree earns top marks in Fannie Mae mortgage servicer ratings

Awarded a superior five STAR designation
Ben Lane
Green Tree Servicing announced Friday that it received a superior five STAR designation as part of Fannie Mae’s Servicer Total Achievement and Rewards program for 2014. Green Tree also said that 2014 is the third consecutive year the company has earned the top performer distinction within its STAR peer group.
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Ocwen to sell $9.6 billion mortgage servicing rights portfolio to Green Tree

Ocwen agency MSR exodus continues
Ben Lane
Ocwen Financial’s exodus from agency servicing just took another giant step forward. The company announced Wednesday morning that it intends to sell a $9.6 billion mortgage servicing rights portfolio to Green Tree Servicing, a subsidiary of Walter Investment Management.
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FBR downgrades Nationstar, Walter Investment

Move comes after both posted losses last week
Trey Garrison
Nonbanks have been in the barrel in the last week, and now it's Walter Investment and Nationstar's turn. Here's what's happening.
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Will Walter Investment go the way of Ocwen?

Company reveals new investigations into servicing practices
Ben Lane
On page 44 of the Walter Investment's earnings filing with the Securities and Exchange Commission, the company disclosed that during the second quarter, it met with a working group representing the attorneys general and regulators of several states as well as representatives of the Office of the United States Trustee to “discuss the business practices of Green Tree Servicing.” Several of those states have since launched investigations.
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Compass Point: Refi burnout hurting Walter Investment

Reiterates “sell” rating and lowers target price by 20
Ben Lane
Citing increasing operating costs and declining profit margins, Compass Point Trading & Research said that Walter Investment is headed towards a poor 2014 and an even worse 2015.
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