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Mortgage servicers all move higher after a big earnings report from Nationstar (NSM +5.7%)....

Mortgage servicers all move higher after a big earnings report from Nationstar (NSM +5.7%). Nationstar cousin Newcastle (NCT +2%), Ocwen (OCN +2.4%), Walter Investment (WAC +2.1%). Scale is key in the servicing business, and Nationstar has increased its UPB by an average 104% annually since 2008 (presentation). Another nice profit center is originations, and they're expected to more than triple this year, helped by the immediately accretive acquisition of Greenlight at 0.7x AEBITDA.
Comments (1)
  • TwistTie
    , contributor
    Comments (2476) | Send Message
     
    What are the favorite "originations" stocks?

     

    I haven't investigated that side of things because I assumed that WFC and USB have a corner on that market for the time being.

     

    I dumped WFC because it seemed that originations were slacking.

     

    I'm looking for more pure plays on whatever the big banks do.
    7 May 2013, 11:28 AM Reply Like
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