Walter Investment Management Corp. Closes On Purchase Of $132 Billion UPB Of
Fannie Mae MSRs And Completes Acquisition Of ResCap Originations And Capital
TAMPA, Fla., Jan. 31, 2013
TAMPA, Fla., Jan. 31, 2013 /PRNewswire/ -- Walter Investment Management Corp.
(NYSE: WAC) ("Walter Investment" or the "Company") announced today that it has
closed on two separate purchases of Fannie Mae mortgage servicing rights
("MSRs") for loans and other intangibles totaling $132 billion in unpaid
principal balance ("UPB"). The company also announced it had completed the
acquisition of the originations and capital markets platform of Residential
Capital, LLC ("ResCap"). Of the MSR and other intangibles acquired, $44
billion in UPB was purchased from ResCap and $88 billion in UPB was purchased
from Bank of America.
Mark J. O'Brien, Walter Investment's Chairman and Chief Executive Officer,
said, "We are quite pleased to have completed these acquisitions from ResCap
and Bank of America. The Fannie Mae MSRs and other intangibles are a
tremendous fit with our capabilities and represent very attractive additions
to our servicing portfolio. Along with the ResCap originations platform,
these acquisitions enhance our position as a leader in the sector and augment
our ability to continue to capitalize on the variety of opportunities
resulting from the evolving structural changes within the space. These
transactions are the culmination of tremendous efforts by the entire Walter
Investment team and I commend them for their performance."
About Walter Investment Management Corp.
Walter Investment Management Corp. is an asset manager, mortgage servicer and
originator focused on finding solutions for consumers and credit owners.
Based in Tampa, Fla., the Company has over 3,700 employees and services a
diverse loan portfolio.For more information about Walter Investment
Management Corp., please visit the Company's website at
SOURCE Walter Investment Management Corp.
Contact: Investor and Media, Whitney Finch, Vice President of Investor
Relations, +1-813-421-7694, firstname.lastname@example.org
Press spacebar to pause and continue. Press esc to stop.