Skip to main content

Walter Investment Purchases Large Pool of Fannie Mae-Backed MSRs

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."
About the author
Dec 11, 2013
STRATMOR, Teraverde Deal A 'Merger Of Equals'

The recent merger of mortgage advisory firms came without the need to lay people off or make any major staffing changes.

May 23, 2024
NEXA Pays Loan Officers 100% Of Commission Splits

LOs won't pay per-file fees or other hidden fees with NEXA100, says NEXA Founder and CEO Mike Kortas.

May 22, 2024
The Right Prescription

‘Doctor Loans’ making healthy strides in Florida

May 21, 2024
123 Newrez Employees Laid Off In Florida and Colorado

WARN Notices were filed the day after Computershare Mortgage Services, SLS acquisition closed.

May 07, 2024
Ishbia Predicts A Rate Cut By Election Day

CEO of United Wholesale Mortgage shares 'personal perspective' in new YouTube video

May 03, 2024
Yield Curve, Schmield Curve?

The yield curve is a harbinger, not the be-all, end-all for lenders.

May 02, 2024