Walter CFO Leaving

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MORTGAGE EXPERT
10 · 04 · 13

The chief financial officer of Walter Investment Management Corp. is leaving his post at the fast growing company.

Charles E. Cauthen will leave the Tampa, Fla.-based company early next year, Walter said this week in a filing with the Securities and Exchange Commission.

In addition to his role as CFO, Cauthen also serves as chief operating officer and is designated as an executive vice president.

He entered a separation agreement with Walter on Oct. 1. The agreement calls for him to stay on long enough to help prepare the company’s 10-K filing for 2013.

During an 18-month non-compete period beyond his termination, Cauthen will continue to receive his $430,000 annual base salary as well as annual bonuses at the rate of $468,700 a year.

Before joining Walter Investment in April 2009, Cauthen spent more than three years at Bank of America Corp.’s consumer finance group, according to his LinkedIn profile. He also worked for Barnett Banks Inc. for nearly a decade.

No successor has been named to replace Cauthen.

Walter has been growing at a phenomenal pace.

Staffing soared from 2,600 as of Sept. 30, 2012, to 6,200 as of June 30, 2013, while its servicing portfolio has grown from $77 billion at the end of last year to $197 billion at the end of June.

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Mortgage Daily Staff

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