Walter Now a Player

written by
2 · 01 · 13

With its acquisition of an origination platform and agency mortgage servicing rights complete, Walter Investment Management Corp. is now a top-10 mortgage servicer with a platform from which it can become an origination player.

The Tampa, Fla.-based company said Thursday that it completed the acquisition of servicing on $132 billion in Fannie Mae loans.

Servicing rights on around $44 billion in loans were purchased from bankrupt Residential Capital LLC, while another $88 billion in servicing was acquired from Bank of America.

Walter Mortgage Co. already serviced $81.8 billion as of June 30, 2012. The latest acquisitions position Walter to become the eighth-biggest mortgage servicer in the country.

Walter additionally said that it completed the acquisition of ResCap’s originations and capital markets platform.

“The Fannie Mae MSRs and other intangibles are a tremendous fit with our capabilities and represent very attractive additions to our servicing portfolio,” Walter Investment Chairman and Chief Executive Officer Mark J. O’Brien said in the statement. “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.”

Mortgage Expert

Mortgage Daily Staff



No Results Found

The page you requested could not be found. Try refining your search, or use the navigation above to locate the post.