Walter Investment Management Corp. (NYSE Amex: WAC) ("Walter Investment" or the "Company") today announced it has entered into a definitive agreement with Marathon Asset Management, L.P. ("Marathon") to purchase Marix Servicing LLC ("Marix"), a high-touch specialty mortgage servicer.  

Marix, based in Phoenix, Arizona, is focused on default management, borrower outreach, loss mitigation, liquidation strategies, component servicing and specialty servicing.  Marix is an S&P Select Servicer and brings relationships with each of the GSEs, as well as a management team which averages over 22 years of industry experience.  The combined platform will be one of the nation's top 10 servicers of sub-prime mortgages.

"We believe Marix will serve to both accelerate and broaden our portfolio acquisition opportunities," said Mark J. O'Brien, Walter Investment's Chairman and Chief Executive Officer. [Read the full article]

The U.S. has undergone three profound periods of pessimism during the past century--the Great Depression of the 1930s, the terrible inflation of the 1970s and the economic crisis today--when Americans have been weighed down by deep doubts about their future progress and with concerns that the expanding opportunities they've come to expect are receding for themselves and their offspring. Yet, once major policy changes were made after both the Depression and the Great Inflation, the country bounced back vigorously. Government policy mistakes bring on crises; the correction of those mistakes will quickly cure them. The Depression was triggered by the Smoot-Hawley Tariff, which imposed massive taxes on countless imports. Our trading partners retaliated in kind, and the global system of finance and trade was shattered. The U.S. [Read the full article]

The U.S. has undergone three profound periods of pessimism during the past century--the Great Depression of the 1930s, the terrible inflation of the 1970s and the economic crisis today--when Americans have been weighed down by deep doubts about their future progress and with concerns that the expanding opportunities they've come to expect are receding for themselves and their offspring. Yet, once major policy changes were made after both the Depression and the Great Inflation, the country bounced back vigorously. Government policy mistakes bring on crises; the correction of those mistakes will quickly cure them. The Depression was triggered by the Smoot-Hawley Tariff, which imposed massive taxes on countless imports. Our trading partners retaliated in kind, and the global system of finance and trade was shattered. The U.S. [Read the full article]

Its been a rough month for the Mortgage Investments stock sector, but larger components which are typically less susceptible to rapid selloffs, have also been hit by the most recent downturn, with many high-yield names underperforming the segment and the overall market.

As of Wednesday's close, the Mortgage Investment Stocks Index dipped nearly -4% over the past month, though the move managed to outperform the S&P during that same time period. Several larger components of the Index fell harder than average, increasing yields in space along the way.

Sector giant Annaly Capital Management (NYSE: NLY - News) helped push the Index lower, as shares of the mortgage REIT sank -6% for the month ended Wednesday. Although the stock sports an indicated annual yield of almost 16%, the firm caught a ratings downgrade yesterday by analysts at JMP Securities to Market Perform from Outperform. [Read the full article]