Items Tagged with 'Walter Investment Management Corporation'

ARTICLES

  • How the mighty have fallen: Ditech booted from the New York Stock Exchange

    Troubles persist for once-bankrupt nonbank
    When we last checked in on Ditech Holding Corp., the nonbank formerly known as Walter Investment Management, things weren’t going too well. And it sounds like things haven’t gotten much better for the company over the last few months. Ditech notified investors this week that the company is being kicked off of the NYSE due to the company’s incredibly low share price and market cap.
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  • Walter Investment could be booted from NYSE for low stock price, market cap

    Nonbank receives delisting notice after market cap stays well below $50 million
    On July 14, 2017, Walter Investment Management Corp. disclosed that it received a notice from the New York Stock Exchange after the company’s shares closed at an average price of less than $1 for a consecutive 30 trading-day period. Walter’s stock closed at $0.77 that day, and since then, things haven’t gotten any better. In fact, they’ve gotten much worse – so much so that Walter is now at risk of being kicked off the NYSE.
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  • Walter Investment hit with NYSE warning after shares stay below $1

    Shares traded at less than $1 for one month
    On Dec. 5, 2016, Walter Investment Management Corp.’s stock closed at $7.35. Since then, the nonbank’s stock dropped precipitously. So much so, in fact, that the stock is now trading well below $1 and the NYSE issued a warning stating the company is no longer in compliance with the stock exchange’s rules.
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  • Walter Capital Opportunity Corp. selling $10 billion MSR portfolio to New Residential

    Sale expected to generate $90 million for Walter Investment Management Corp.
    Last week, after Walter Investment Management Corp. reported its third straight quartely loss, CEO Anthony Renzi said he believes the company is on the right track in an effort to return to profitability. On Wednesday, the company announced a move that will indeed generate cash for the company, enough to nearly wipe out its entire third quarterly loss.
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  • More changes at Walter Investment: Company adds new chief compliance officer, other execs

    Part of effort to make company "leaner and more effective"
    Late last week, Walter Investment Management Corp. announced that David Schneider, who served as executive vice president and chief operating officer of Walter Investment and as president of Ditech Financial, abruptly left the company. The company said that Schneider’s departure was part of the company’s plan to “realign the company’s management structure” and “flatten the organization.” Just a few days later, the company provided a look at how its realignment will take shape.
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  • Walter Investment beats 4Q revenue expectations

    The latest status of its originations segment
    After coming up a lot in recent news, Walter Investment ended last year on the positive side of the ledger, beating expectations by $26.65 million. However, this new earnings release sheds some light on the state of the company's origination division, giving more background on the latest management shake up.
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