Walter Investment Management (WAC) said Tuesday it completed the purchase of high-touch specialty mortgage servicer Marix Servicing. Phoenix-based Marix deals with mortgage default management, borrower outreach, loss mitigation and liquidation strategies. The current state of the nation’s housing market is leading many well-capitalized firms to grow their presence in the high-touch space, where bespoke mortgage servicing is considered one of the better options for getting results. “With the close of the transaction, Marix becomes a significant component of the Walter Investment high-touch asset management and servicing platform, allowing the company to expand its portfolio acquisition and revenue growth opportunities,” reads a statement from Walter Investment, a Tampa Bay-based real estate investment trust. The price remains undisclosed. Mortgage servicer Walter Investment Management specializes in subprime and otherwise distressed mortgage assets worth $1.8 billion. Annual revenues at the firm are approximately $180 million. Walter announced that it would purchase Marix in August 2010 from Marathon Asset Management, which was looking to exit the mortgage servicing business. Write to Jacob Gaffney. The author holds no relevant investment.
Subprime specialist Walter Investment completes purchase of Marix mortgage servicing
Most Popular Articles
Latest Articles
Spring housing market gets more inventory
We’ve now had back-to-back weeks of healthy housing inventory growth, making spring 2024 much healthier than spring 2023.
-
The best real estate podcasts for agents and brokers in 2024
-
Home sellers saw their profits shrink in the first quarter: Attom
-
If reelected, Trump could seek greater control over Federal Reserve
-
Acra CEO Keith Lind on staying the course amid choppy waters in non-QM
-
HUD walks back some proposed changes to HECM for Purchase program