Asset manager, mortgage servicer and originator Walter Investment Management Corp. (WAC) closed on two separate purchases of Fannie Mae mortgage servicing rights for loans and other intangibles totaling $132 billion in unpaid principal balance, the firm confirmed Thursday.
The company also said its completed its acquisition of Residential Capital's originations and capital markets platform.
About $44 billion in unpaid principal balance (UPD) was purchased from ResCap and $488 billion in UPD was purchased from Bank of America (BAC) in regards to the MSR and other intangibles acquired.
"We are quite pleased to have completed these acquisitions from ResCap and Bank of America. The Fannie Mae MSRs and other intangibles are a tremendous fit with our capabilities and represent very attractive additions to our servicing portfolio," said chairman and chief executive officer Mark O’Brien at Walter Investment.
He added, "Along with the ResCap originations platform, these acquisitions enhance our position as a leader in the sector and augment our ability to continue to capitalize on the variety of opportunities resulting from the evolving structural changes within the space. These transactions are the culmination of tremendous efforts by the entire Walter Investment team and I commend them for their performance."
Walter Investment has more than 3,700 employees and services a diverse loan portfolio.