Walter Investment leads continued slump for servicers

|About: Walter Investment Manage... (WAC)|By:, SA News Editor

It's shaping up to be another rough session for the nonbank servicers, as Walter Investment (WAC -8.1%) tumbles after missing estimates and providing seemingly cautious guidance.

2014 adjusted EBITDA is expected in the $650M-$725M range vs. $691.7M in 2013. In 2012, adjusted EBITDA was $241.7M. Core EPS is expected at $5.25-$6.25 vs. $9.63 in 2013.

Others in the now ice-cold sector reporting today were Ocwen (OCN -5%) and Nationstar Mortgage (NSM -4.3%).