twitter linkedin
facebook google+
Search:

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to MortgageDaily.com and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from MortgageDaily.com.

Mortgage News Reprints
Put entire MortgageDaily.com stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed MortgageDaily.com stories free on your Web site or for your RSS reader.

News Archives
Archive of MortgageDaily.com stories by month going back to 1999.

Press Releases
Reports and announcements from MortgageDaily.com.

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News

 

Mortgage News

HOT Topics

production

servicing

compliance

legal

fraud

secondary

jobs

appraisal

site map

www.loan-academy.com/
Corporate Mortgage News
M e r g e r s, a c q u i s i t i o n s and private and public offerings. Other corporate activity including executive appointments, bankruptcies name changes.


Merger Creates Top-10 Subprime Servicer

Walter Investment acquiring Marix Servicing

Aug. 31, 2010

By MortgageDaily.com staff


An upcoming acquisition of a default servicer is expected to create a new top-10 servicer of subprime mortgages and boost demand for servicing portfolios.

A news release Tuesday indicated that Marix Servicing LLC is being acquired by Walter Investment Management Corp. from Marathon Asset Management L.P. The deal, for which terms were not disclosed, is expected to close by the end of October.

Marix is a Phoenix-based "high-touch specialty mortgage servicer," the statement said. It has relationships with Fannie Mae and Freddie Mac and is designated as a select servicer by Standard and Poor's Ratings Service. The average management executive at the company has more than 22 years' experience.

"The company, Marix and Marathon will maintain a close strategic relationship after the closing, including the use by Marathon of Marix for the servicing of residential mortgage assets on an exclusive basis, participation by Marathon on Marix's advisory council and the continuation of pre-existing credit agreements provided to Marix by Marathon through March 2011," Walters Investment explained in the announcement.

Walter Investment and subprime servicing subsidiary Walter Mortgage Co. were divested by Walter Industries Inc. in April 2009 and merged with Hanover Capital Mortgage Holdings Inc. Around 225 people were employed by the firm at the time, whereas headcount in today's statement was reported at 230.

As of March 31, 2009, Walter Mortgage serviced around $1.9 billion. In today's statement, the Tampa, Fla.-based real estate investment trust said that the Marix acquisition will make it one of the 10 biggest subprime mortgage servicers in the country.

"We believe Marix will serve to both accelerate and broaden our portfolio acquisition opportunities," Walter Investment Chairman and Chief Executive Officer Mark J. O'Brien said in the announcement.

next story

back to current headlines

Servicing News | Servicer Ranking | Delinquency Statistics
Stories about mortgage servicers, delinquency and f o r e c l o s u r e s. Coverage of servicing lawsuits and loan servicing technology.


Nonprime and Subprime News | Subprime Statistics
Stories about non-QM products. Coverage of subprime, Alt-A and
hard money lending. Home-equity loans and home-equity lines of credit.



SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter

MBS

mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

secondary marketing

social media

servicing news

subprime news

wholesale lenders