Last $24.29 USD
Change Today +0.47 / 1.97%
Volume 125.9K
WAC On Other Exchanges
Symbol
Exchange
New York
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As of 11:39 AM 09/17/14 All times are local (Market data is delayed by at least 15 minutes).

walter investment management (WAC) Snapshot

Open
$23.80
Previous Close
$23.82
Day High
$24.29
Day Low
$23.80
52 Week High
09/20/13 - $41.85
52 Week Low
08/12/14 - $23.51
Market Cap
912.8M
Average Volume 10 Days
423.6K
EPS TTM
$4.31
Shares Outstanding
37.7M
EX-Date
09/20/11
P/E TM
5.6x
Dividend
--
Dividend Yield
--
Current Stock Chart for WALTER INVESTMENT MANAGEMENT (WAC)

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walter investment management (WAC) Details

Walter Investment Management Corp., together with its subsidiaries, provides business services to the residential mortgage industry in the United States. The company operates through six segments: Servicing, Originations, Reverse Mortgage, Asset Receivables Management, Insurance, and Loans and Residuals. The Servicing segment performs services for third-party investors in forward loans, as well as for on-balance sheet residential loans and real estate owned associated with forward mortgages. This segment offers services to various types of loans, such as forward residential mortgages, manufactured housing, and consumer installment loans and contracts. The Originations segment originates and purchases forward mortgage loans to third parties while retaining the servicing rights. The Reverse Mortgage segment primarily focuses on the origination, securitization, and servicing of reverse mortgage loans and a mortgage portfolio of federally-insured HECMs. This segment also performs servicing for third-party investors in reverse loans; and provides other ancillary services for the reverse mortgage market. The Asset Receivables Management segment collects post charge-off deficiency balances on behalf of third-party securitization trusts and other asset owners. The Insurance segment offers voluntary and lender-placed hazard insurance for residential loan customers, as well as other ancillary products to third parties through its insurance agency. The Loans and Residuals segment is engaged in the provision of assets and mortgage-backed debt of the residual trusts; and the unencumbered residential loan portfolio and real estate owned, which are associated with forward loans. Walter Investment Management Corp. was founded in 1958 and is based in Tampa, Florida.

6,600 Employees
Last Reported Date: 08/11/14
Founded in 1958

walter investment management (WAC) Top Compensated Officers

Chairman and Chief Executive Officer
Total Annual Compensation: $575.0K
Chief Operating Officer, Executive Vice Presi...
Total Annual Compensation: $430.0K
President of Green Tree Servicing, LLC
Total Annual Compensation: $333.0K
Vice Chairman, Chief Investment Officer and E...
Total Annual Compensation: $428.0K
Compensation as of Fiscal Year 2013.

walter investment management (WAC) Key Developments

Walter Investment Management Corp. Presents at Barclays 2014 Global Financial Services Conference, Sep-09-2014 03:30 PM

Walter Investment Management Corp. Presents at Barclays 2014 Global Financial Services Conference, Sep-09-2014 03:30 PM. Venue: Hilton Midtown, 1335 Avenue of the Americas, New York, New York, United States. Speakers: Denmar John Dixon, Vice Chairman, Chief Investment Officer and Executive Vice President, Gary L. Tillett, Chief Financial Officer and Executive Vice President.

Walter Investment Management Corp. Reports Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Reports Goodwill Impairment for the Quarter Ended June 30, 2014; Revised Earnings Guidance for the Year 2014; Provides Tax Rate Guidance for the Full Year 2014

Walter Investment Management Corp. reported consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported total revenues of $413,713,000 compared with $595,964,000 for the same period last year. Loss before income taxes was $51,926,000 compared with income before income taxes of $238,571,000 for the same period last year. Net loss was $12,929,000 or $0.34 diluted per share compared with net income of $143,232,000 or $3.75 diluted per share for the same period last year. Adjusted pre-tax income was $73.8 million compared with $145.3 million for the same period last year. Adjusted net income was $45.0 million or $1.19 diluted per share compared with $88.6 million or $2.36 diluted per share for the same period last year. EBITDA was $5.0 million compared with $286.9 for the same period last year. Adjusted EBITDA was $199.4 million compared with $282.1 for the same period last year. Significant drivers to the earnings increase include strong Originations earnings from $145 million of gains on sales of loans due to higher locked volumes, higher expenses of $44 million associated with newly boarded portfolios in Servicing segment and $34 million of performance fees earned by investment management business. Funds generated where $137 million before investment in originated and retained MSRs of $46 million. For the six months, the company reported total revenues of $783,661,000 compared with $910,493,000 for the same period last year. Loss before income taxes was $22,961,000 compared with income before income taxes of $285,095,000 for the same period last year. Net income was $4,448,000 or $0.12 diluted per share compared with $170,981,000 or $4.47 diluted per share for the same period last year. Adjusted Pre-Tax Earnings was $209,980,000 compared with $295,791,000 for the same period last year. Adjusted EBITDA was $367,197,000 compared with $402,138,000 for the same period last year. The company reported goodwill impairment of $82,269,000 for the quarter ended June 30, 2014. The company anticipates results for the year are likely to be in the low-to-mid point of its previously provided outlook for 2014. The previously provided outlook includes an adjusted EBITDA range of $650 million to $725 million and an adjusted earnings per share after tax range of $5.25 to $6.25. These ranges include estimates for certain business development and growth opportunities, and assume a reasonably consistent economic environment. The 2014 adjusted earnings per share after tax range does not include an estimate for future fair value adjustments. For 2014, the company expects effective tax rate for GAAP purposes, is to be 119%.

Walter Investment Management Corp. Announces Retirement of Keith Anderson as Executive Vice President and Chief Operating Officer

Walter Investment Management Corp. announced the retirement of its Executive Vice President and Chief Operating Officer, Keith Anderson. Mr. Anderson will remain in his present position with the Company for ninety days to assist with the search for a successor and to transition the position. Thereafter, Mr. Anderson will continue as a consultant to the Company for one year. Mr. Anderson joined Green Tree Servicing in 1995, holding various positions of increasing responsibility, before becoming EVP and COO of Walter Investment in 2012. During his tenure with Walter Investment, Mr. Anderson has been a key member of the Company's management team, as Walter Investment's strategic initiatives were defined and executed.

 

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WAC

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Valuation WAC Industry Range
Price/Earnings 10.6x
Price/Sales 0.7x
Price/Book 0.8x
Price/Cash Flow 5.6x
TEV/Sales NM Not Meaningful
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