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Walter Investment Management Corp. Subsidiary Amends Servicer Advance Financing Facility
Walter Investment Management Corporation has announced that its wholly-owned subsidiary, Green Tree Servicing LLC, entered into a newly amended $1.2 billion servicer advance financing facility with Barclays Bank PLC as sole noteholder under the Facility. In connection, approximately $1.1 billion of the Facility capacity was drawn and used by Green Tree to, among other things, repay approximately $765 million of Green Tree's liability under its early advance reimbursement agreement with Fannie Mae.
"We are pleased to have entered into this amended financing facility for our servicing advances," said Mark J. O'Brien, chairman and chief executive officer of Walter Investment. "Walter Investment will benefit from the increased capacity available under the facility, and also from the facility's lower interest rates and higher advance rates, which will enable the Company to finance a larger portion of its advances."