Walter Investment Profit Below Target, Shares Plummet
Mortgage loan servicing company Walter Investment Management (WAC) late Monday reported a reversal to per-share profit from a loss last year. But shares plunged Tuesday after it missed Wall Street's earnings target on performance of its older loans and some associated costs. The fourth-quarter earnings report came amid fresh reports confirming a housing recovery is on track, although there were signs the pace may be slowing. The Commerce
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