HLSS: Home Loan Servicing Solutions Instablogs

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Thursday, May 9, 7:30 AM A Q4 earnings miss by Walter Investment (WAC) in March set off a savage selloff in it as well as sizable declines in the other mortgage servicers (OCN, NSM, HLSS), but it may not be so today. Walter +8.2% premarket after breezing past Q1 earnings estimates and reaffirming FY13 guidance. Conference call at 10 ET. (PR) Comment! [Earnings, Financials]
Thursday, April 18, 11:48 AM More on Home Loan Servicing Solutions (HLSS +2.1%) Q1 earnings: "Our outlook on prepayment speeds ... has become increasingly positive fueled in part by Ocwen's continued success in resolving delinquent loans," says Chairman Bill Erbey (also OCN chairman). Not even lower interest rates and an improving housing market have altered the trend of lower prepayment speeds. Other servicers today: OCN -0.8%, NCT -2%, NSM +0.9%, WAC +1.7%. Comment! [Earnings, Financials]
Thursday, April 18, 8:49 AM Home Loan Servicing Solutions Ltd (HLSS) declares dividend of $0.14/share for the month of Apr., May and June. Forward yield 7.47%. For shareholders of record . Payable . Ex-div date . (PR) Comment! [Dividends]
Thursday, April 18, 8:27 AM Home Loan Servicing (HLSS): Q1 EPS of $0.44 beats by $0.01. Revenue of $102.7M beats by $0.34M. (PR) Comment! [Earnings, Breaking News, Financials]
Tuesday, March 26, 2:54 PM Fans of mortgage servicers have a look at how the sausage is made as Rob Chrisman passes along a couple of sales pitches for MSR portfolios. The servicers able to quickly scale up in size have an advantage as banks unload their portfolios for capital reasons and smaller outfits look to raise funds. After being savaged last week, NSM +6.1%, OCN +3%, and NCT +3.3% are bouncing. Comment! [Financials, On the Move]
Thursday, March 21, 10:22 AM Maybe what's really hurting the servicing companies (NSM, OCN, WAC, NCT, HLSS) the past few sessions is increased competition angling for a piece of the lucrative MSR business. Quicken Loans continues a speedy build-up of its servicing portfolio, bringing it to $90B with the purchase of $34B in MSRs from Ally Bank. 2 Comments [Financials]
Wednesday, March 20, 8:31 AM More on Walter Investment (WAC) (previous): "The underlying earnings power of Walter has not changed meaningfully as a result of the higher prepay speeds," says Credit Suisse, also defending the stock. Walter's dive yesterday spread through the whole servicing sector and may have made bargains of the high-flyers: OCN, NSM, HLSS, NCT. 3 Comments [Financials, On the Move, Quick Ideas]
Tuesday, March 19, 11:55 AM The hot mortgage servicing sector is getting whacked today, with the only news out being Walter Investment's (WAC -9.8%) earnings miss. The company is guiding to 2013 adjusted EBITDA of $650M-$725M vs. 2012's $241.7M. This smells like traders taking profits after some big runs in the stocks. NSM -7.2%, OCN -5.5%, HLSS -3.1%. 1 Comment [Financials, On the Move]
Thursday, March 14, 7:29 AM Home Loan Servicing Solutions (HLSS) closes on the acquisition of $15.9B in servicing assets from Ocwen Financial (OCN). The assets "are similar to those previously acquired from Ocwen, and we expect this transaction to be accretive to earnings." (PR) Comment! [Financials]
Tuesday, February 26, 10:42 AM More on JPMorgan's investor day (previous): Some see JPM's plan to cut 13-15K in its mortgage banking unit as a signal of employment losses or weakening housing. The cuts, however, are coming in the servicing area, not production. It's old news that the big banks - not wishing to tie up capital - are selling servicing assets to the likes of OCN, NSM, NCT, and WAC among others, who, no doubt, are busy hiring. Comment! [Financials, U.S. Economy]
Monday, February 11, 4:11 PM Wells Fargo (WFC) is nearing the sale of its mortgage servicing rights while retaining customer contact through sub-servicing, suggests Compass Point. The arrangement would be similar to that between Ocwen (OCN) and Home Loan Servicing (HLSS). Cerberus Mortgage's IPO filing on Friday discusses this sort of investment. Comment! [Financials]
Thursday, February 7, 10:18 AM Home Loan Servicing Solutions Ltd (HLSS) declares dividend of $0.13/share for the month of Feb. and Mar. Forward yield 7.2%. (PR) Comment! [Dividends]
Thursday, February 7, 7:37 AM Home Loan Servicing (HLSS): Q4 EPS of $0.44 beats by $0.05. Adj. Revenue of $61.1M beats by $7.05M. (PR) Comment! [Earnings, Breaking News, Financials]
Thursday, February 7, 12:05 AM Notable earnings before Thursday’s open: AAP, ALU, BG, CCE, CI, CS, CTSH, EXC, FLIR, FLO, GPK, HLSS, HOT, INGR, KKR, MFC, MPW, MWW, NBL, NNN, NYT, ONNN, OZM, PM, PMT, PTEN, S, SBH, SIAL, SNE, SNI, SPH, SQNS, TDC, TEVA, XYL Comment! [Earnings]
Wednesday, February 6, 5:30 PM Notable earnings before Thursday’s open: AAP, ALU, BG, CCE, CI, CS, CTSH, EXC, FLIR, FLO, GPK, HLSS, HOT, INGR, KKR, MFC, MPW, MWW, NBL, NNN, NYT, ONNN, OZM, PM, PMT, PTEN, S, SBH, SIAL, SNE, SNI, SPH, SQNS, TDC, TEVA, XYL 1 Comment [Earnings]
Thursday, January 24, 3:52 PM Eagle Asset Management reports a passive 10.94% stake in Home Loan Servicing Solutions (HLSS). HLSS is the mortgage servicer spun out of Ocwen (OCN) last year. Comment! [Financials]

HLSS Home Loan Servicing Solutions

HLSS

Home Loan Servicing Solutions