Walter Investment Management (WAC) … Another Money Losing $2 Stock Like Ocwen
Walter (a non-bank mortgage servicer) was a $900 stock in 2004. Today, it is a $2 stock …. the same as Ocwen. Both stocks are just limping along. These two stocks don’t even pay dividends to investors. They are losers. They are losing money. These stocks are “leading indicators” of what is happening in the mortgage segment. The Mortgage Order Mills (MOMs) are suffering. They are cutting staff and cutting salaries and cutting fees to field service representatives. One MOM is paying $7.50 for a grass cut which HUD says should pay much more.
The mortgage segment is the home of 99.5% of the fraud, greed and corruption in the industry. Many of the MOMs are GREEDY PIGS. Many of the MOMs are on life support. Avoid the mortgage segment … let the pigs die a slow death. Don’t die with them. Follow Foreclosurepedia.