walter investment management (WAC) Key Developments
Walter Investment Management Corp. Presents at Morgan Stanley Financials Conference 2015, Jun-09-2015 11:30 AM
Jun 1 15
Walter Investment Management Corp. Presents at Morgan Stanley Financials Conference 2015, Jun-09-2015 11:30 AM. Venue: The Waldorf-Astoria Hotel, 301 Park Avenue at 50th Street, New York City, New York, United States.
Walter Investment Management Corp. Reports Consolidated Earnings Results for the First Quarter Ended March 31, 2015
May 7 15
Walter Investment Management Corp. reported consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported total revenues of $310.857 million against $369.948 million a year ago. Loss before income taxes was $49.678 million against income before income taxes of $28.965 million a year ago. Net loss was $31.008 million or $0.82 per basic and diluted share against net income of $17.377 million or $0.45 per basic and diluted share a year ago. Adjusted EBITDA was $162.696 million against $167.801 million a year ago. Adjusted earnings before taxes were $61.792 million against $95.054 million a year ago. Adjusted earnings after tax were $38.3 million or $1.02 per share against $58.0 million or $1.53 per share a year ago. Total revenue for the first quarter of 2015 was a decrease of $59.1 million as compared to the first quarter of 2014, primarily related to an $81.9 million decline in net servicing fees and revenues comprised of an $81.6 million greater fair value charge for mortgage servicing rights. Total revenue also reflects a $9.3 million decline in insurance revenue due to the loss of commissions earned on GSE lender-placed policies beginning June 1, 2014, offset by a $21.2 million increase in net gains on sales of loans reflecting higher locked volumes due to strong execution gains in a low interest rate environment in the current quarter and a $13.5 million increase in net fair value gains on reverse loans. The 2015 quarter benefited from the impact of the sale of the company equity investment in a third-party reverse mortgage business of $14.4 million pretax, or $0.24 per share after tax. The GAAP net loss reflecting the impact of $44.5 million, or $1.18 per share of after-tax charges resulting from changes in valuation inputs and other assumptions used in the fair value of the assets and liabilities carried at fair value.
Walter Investment Seeks MSR Acquisitions
May 7 15
Walter Investment Management Corp. (NYSE:WAC) realized $220 million of proceeds to-date through the sale of certain of our non-core assets. They are currently evaluating the best uses of this excess cash, which could include adjustments to the capital structure through debt reductions and/or share repurchases, and MSR acquisitions or other investment opportunities.
Walter Investment Management Corp. Presents at Keefe, Bruyette, & Woods Mortgage Finance Conference, Jun-02-2015 09:45 AM
May 1 15
Walter Investment Management Corp. Presents at Keefe, Bruyette, & Woods Mortgage Finance Conference, Jun-02-2015 09:45 AM. Venue: Millennium Broadway Hotel, 145 West 44th Street, New York, New York, United States.
Walter Investment Management Corp. to Report Q1, 2015 Results on May 07, 2015
Apr 28 15
Walter Investment Management Corp. announced that they will report Q1, 2015 results at 9:00 AM, Eastern Standard Time on May 07, 2015