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Servicing / The Ticker

Walter Investment Management to buy $30B in MSRs from large bank

The pool is backed by Fannie Mae

String of houses

Mortgage servicer and originator Walter Investment Management Corp. (WAC) announced plans to buy $30 billion in mortgage servicing rights backed by Fannie Mae.

It’s the latest in a string of MSR acquisitions launched by the Tampa-based firm.

The portfolio, which is being sold by a large national depository, is made up of 270,000 accounts. About 99% of the loans are current and more than 100,000 are eligible for the government’s Home Affordable Refinance Program.

The MSRs will be boarded in stages during the first three quarters of 2014.

The deal is part of a previously announced arrangement for WAC to buy MSRs with an aggregate unpaid principal balance of $62 billion.

 

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