Walter Investment Management Corp. 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. 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. 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.
Take a look at the 1-year chart of Walter (NYSE: WAC) with the added notations:
After declining from October into February, WAC has held a very
important level of support at $24 (blue) for most of the last 6 months.
No matter what the market has done since February, WAC always found
support at that level when tested. Now, the stock has approached $24
again, and that could provide another bounce higher.
The Tale of the Tape: WAC has a key level of support
at $24. A trader could enter a long position at $24 with a stop placed
under the level. If the stock were to break below the support a short
position could be entered instead.
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