Zacks Investment Research downgraded shares of WALTER INV MGMT (WAC) from NEUTRAL to UNDERPERFORM on March 04, 2014, with a target price of $24.20.
Walter Investment Management Corp., headquartered in Tampa, FL, is a Mortgage portfolio owner and mortgage servicer specializing in subprime, non-conforming and other credit challenged mortgage assets. It is a residential mortgage servicing company with divisional offices located in Atlanta, Birmingham, Charlotte, Ft. Worth and Houston. The company holds licenses as a residential mortgage lender and/or servicer in over 30 states across the US, and presently has federal mortgage lending approval as a Title II Non-Supervised HUD Mortgagee. The portfolio primarily consists of mortgages on homes built by Jim Walter Homes, Inc. and its affiliated builders. The company is one of the few remaining organizations to provide portfolio servicing through a team of full-time "field-based" employees. It also operates mortgage advisory and insurance product lines of business.
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