Walter Investment Management (WAC), New Residential (NRZ) Enter MSR Purchase and Sale Agreement
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Walter Investment Management Corp. Announces Second Quarter 2016 Highlights And Financial Results
August 9, 2016 6:00 AM EDTTAMPA, Fla., Aug. 9, 2016 /PRNewswire/ -- Walter Investment Management Corp. (NYSE: WAC) ("Walter Investment" or the "Company") today announced operational highlights and financial results for the quarter ended June 30, 2016.
Second Quarter 2016 Operational Highlights and Recent Developments
Capital efficiency Entered into a series of agreements with a subsidiary of New Residential Investment Corp (NYSE: NRZ) for the sale of mortgage servicing rights for approximately $231 million, which Ditech will sub-service, and a forward flow arrangement for originated MSR Increased... MoreNew Residential and Walter Investment Announce Mortgage Servicing Rights Purchase Agreement and Subservicing Agreement
August 9, 2016 6:00 AM EDTNEW YORK & TAMPA, Fla.--(BUSINESS WIRE)-- New Residential Investment Corp. (NYSE:NRZ, New Residential) and Walter Investment Management Corp. (NYSE:WAC, Walter) today announced an agreement (the Purchase Agreement) for the purchase and sale of approximately $35 billion UPB of seasoned conventional mortgage servicing rights (MSRs) for a purchase price of approximately $231 million.
In addition, New Residential, Walter and Walter Capital Opportunity, LP have agreed in principle for the purchase and sale of substantially all of the assets of Walter Capital Opportunity, LP and its subsidiaries (WCO), along with certain related assets owned by Walter, which, collectively, represent approximately $37 billion UPB of MSRs... More
