Key Developments: Walter Investment Management Corp (WAC)
37.36USD
24 May 2013
$-0.73 (-1.92%)
$38.09
$37.79
$37.93
$36.21
916,189
1,050,774
$49.99
$17.99
Latest Key Developments (Source: Significant Developments)
Walter Investment Management Corp Reaffirms FY 2013 EBITDA Guidance
Walter Investment Management Corp reaffirmed previously provided AEBITDA range for fiscal 2013 of $650-$725 million. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report EBITDA of $669 million for fiscal 2013. Full Article
Walter Investment Management Corp's Reverse Mortgage Solutions, Inc Announces Acquisition Of Reverse Mortgage Servicing Rights From Wells Fargo Home Mortgage
Walter Investment Management Corp announced that its wholly owned subsidiary Reverse Mortgage Solutions, Inc. (RMS) has acquired a $12.2 billion UPB reverse mortgage servicing portfolio (MSR) from Wells Fargo Home Mortgage (Wells Fargo). The portfolio of over 76,000 loans is expected to transfer to RMS during the third quarter of 2013. Full Article
Walter Investment Management Corp Issues FY 2013 EBITDA Guidance
Walter Investment Management Corp announced that based on continued strong overall market conditions, contributions expected from the transactions completed by the Company last year and in the first quarter of 2013, and the robust pipeline for potential new business, the Company anticipates fiscal 2013 Adjusted EBITDA in a range of $650 million to $725 million. Full Article
Walter Investment Management Corp Announces Definitive Agreement To Acquire Correspondent Lending And Wholesale Broker Businesses From Ally Bank
Walter Investment Management Corp announced it has signed a definitive agreement to acquire the correspondent lending and wholesale broker businesses of Ally Bank. Upon the completion of the transaction, the Company anticipates it will employ approximately 300 of the correspondent lending and wholesale broker businesses' employees. Terms of the transaction were not disclosed. Full Article
Walter Investment Management Corp Closes Purchase Of $132 Billion UPB Of Fannie Mae Msrs And Completes Acquisition Of Rescap Originations And Capital Markets Platform
Walter Investment Management Corp announced that it has closed on two separate purchases of Fannie Mae mortgage servicing rights (MSRs) for loans and other intangibles totaling $132 billion in unpaid principal balance (UPB). The Company also announced it had completed the acquisition of the originations and capital markets platform of Residential Capital, LLC (ResCap). Of the MSR and other intangibles acquired, $44 billion in UPB was purchased from ResCap and $88 billion in UPB was purchased from Bank of America. Full Article
Walter Investment Management Corp Announces Definitive Agreement To Acquire Servicing Platform From MetLife Bank, N.A.
Walter Investment Management Corp announced a definitive agreement to acquire the residential mortgage servicing platform, including certain servicing related technology assets, of MetLife Bank, N.A. located in Irving, Texas. The assets to be acquired do not include any mortgage loans or mortgage servicing rights. Terms of the transaction were not disclosed. The Company anticipates that wholly owned subsidiary, Green Tree Credit Solutions, will employ approximately 300 of MetLife Bank's servicing employees and anticipates it will continue to occupy the premises in Irving, Texas currently occupied by the MetLife Bank mortgage servicing business. Full Article
Bank of America Corp To Sell Rights To Service $300 Billion Loans; Ocwen Financial Corp, Nationstar Mortgage Holdings Inc And Walter Investment Management Corp, Among Buyers-Reuters
Reuters reported that Bank of America Corp is in talks to sell collection rights on $300 billion of mortgages. Ocwen Financial Corp, Nationstar Mortgage Holdings Inc and Walter Investment Management Corp are among the firms that are in talks to purchase a portion of the assets. Bank of America spokesman Dan Frahm said the Company does not comment on what he characterized as 'market rumor or speculation'. Representatives of Nationstar, Ocwen and Walter did not immediately respond. The assets that Bank of America is looking to sell is known as residential mortgage servicing rights. Full Article
Walter Investment Management Corp Reaffirms FY 2012 EBITDA Guidance
Walter Investment Management Corp announced that for fiscal 2012, it continues to expect pro forma adjusted EBITDA to be at or above the mid-point of the range of previously provided guidance of $225 to $240 million. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report EBITDA of $229 million for fiscal 2012. Full Article
Walter Investment Management Corp Completes Acquisition Of Reverse Mortgage Solutions Inc.
Walter Investment Management Corp announced it has completed its previously announced acquisition of Reverse Mortgage Solutions, Inc. (RMS). Terms of the transaction were not disclosed. Full Article
Ocwen Financial Corp and Walter Investment Management Corp Win Bankrupcy Auction For Residential Capital LLC-Reuters
Reuters reported that Ocwen Financial Corp and Walter Investment Management Corp won a $3 billion bankruptcy auction for Residential Capital LLC's loan-servicing unit. Full Article
Ally banking subsidiary sells mortgage unit to Walter
- Ally Financial Inc's banking subsidiary said on Monday it agreed to sell a mortgage unit to Walter Investment Management Corp as the U.S. auto lender continues to pull back from the home loan business.
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