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Slide #71. Walter Investment Management Corp. — Correspondent Lending And Wholesale Broker Businesses From Ally Bank
Walter Investment Management Corp. (WAC)
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.
Ditech Holding is a servicer and originator of mortgage loans. Co. services a range of loans across the credit spectrum for its own portfolio and for government sponsored enterprises, government agencies, third-party securitization trusts and other credit owners. Co.'s segments are: Servicing, which performs servicing for its mortgage loan portfolio and on behalf of third-party credit owners, performs subservicing for third-party owners, and operates complementary businesses including collections of post charge-off deficiency balances; and Originations, which originates and purchases mortgage loans through consumer originations, correspondent lending, and wholesale lending.
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