It’s never good news when companies see their share price break the buck. Better.com and Finance of America are facing that prospect. The big question: How much time do they have left to right the ship?
It was originally thought that publicity generated by the consent order would cause at least some of Cenlar’s subservicing clients to switch vendors. But so far, that hasn’t happened.
When times turn tough, some mortgage REITs start cutting the dividends they pay shareholders, but not all. Meanwhile, book values are getting slammed. A time to buy these equities or sit on the sidelines?
Cenlar, the largest subservicer in the mortgage industry, has been on a middle- and senior-manager hiring spree the past 18 months as it tries to meet the demands of an OCC consent order filed two-plus years ago.