Skip to main content

Walter Investment Purchases Large Pool of Fannie Mae-Backed MSRs

NationalMortgageProfessional.com
Dec 11, 2013

Walter Investment Management Corporation has announced that it has entered into a definitive agreement with a large national depository to acquire a pool of mortgage servicing rights (MSRs) backed by Fannie Mae with an aggregate unpaid principal balance of approximately $30 billion. The portfolio of assets to be acquired consists of approximately 270,000 accounts that are projected to be approximately 99 percent current at transfer and includes over 100,000 accounts which are eligible for the government sponsored Home Affordable Refinance Program. Servicing transfers are expected to occur in staged boardings during the first three quarters of 2014. The current acquisition is part of the Company's previously announced plan to acquire MSRs having an aggregate unpaid principal balance of approximately $62 billion. Of that amount, the Company has now entered into definitive agreements for the acquisition of MSRs having an aggregate unpaid principal balance of approximately $54 billion, while letters of intent have been executed in connection with the remaining transactions. The current acquisition, as well as certain of the other pending transactions are subject to customary closing conditions, including GSE approval. "We are pleased to announce this transaction, which further extends our strategic client relationships with large national depository institutions and underscores the sector's focus on outsourcing non-core assets to specialty servicers," said Mark J. O'Brien, chairman and CEO of Walter Investment. "We look forward to working with the seller to ensure a seamless servicing transition for our new customers."
Published
Dec 11, 2013
Rocket Pro Announces Major Initiatives

Company brings Rocket Tech, the Rocket Network and Rocket Marketing to mortgage brokers across the country

Industry News
Oct 19, 2021
FormFree Taps Amazon Web Services For Consumer Financial Identity Solutions

FormFree will use Amazon's blockchain technology to manage its latest consumer Financial DNA solution and its newly introduced FormFree Exchange.

Tech
Oct 19, 2021
Synergy One Lending Increases Its Capital By $50M

San Diego-based Synergy One Lending Inc. completed a $50 million corporate note financing with a consortium of institutional investors.

Industry News
Oct 19, 2021
TransUnion Sees Untapped Growth Opportunity For The Mortgage Industry

A study conducted by TransUnion, which explores the creditworthiness of low-to-moderate income consumers, revealed that the segment represents a $300 billion growth opportunity for the mortgage industry.

Analysis and Data
Oct 19, 2021
Zillow Stock Falls After It Halts Buying Houses To Flip

Zillow’s stock fell nearly 10% Monday after the company announced its Zillow Offers division would stop buying homes.

Industry News
Oct 19, 2021
MBA Swears In New Officers For 2021-22

Kristy Fercho, executive vice president and head of home lending at Wells Fargo, is the new chairman.

Industry News
Oct 18, 2021