The sharp decline is primarily because of the reduction in overall activity levels across the mortgage industry from an increase in interest rates – something that can be attributed to the Fed’s ongoing rate hike process.
Walter Investment Management Corp.
The mortgage servicer and lender faces a deadline Wednesday to get creditors on board with its bankruptcy plan, and...
Walter Investment Management Corp. was supposed to prosper by snapping up mortgage cast-offs from big banks at fire-sale prices. Instead, Walter is belatedly joining the list of companies burned by the U.S. housing crisis.
“After careful consideration, we have taken a significant step to improve Walter’s financial position,” president and...
Walter Investment Management Corp. (NYSE: WAC) on Tuesday announced a proposed restructuring plan amid its financial woes, warning that it will enter Chapter 11 bankruptcy if the stakeholders can’t agree on the proposal.
As of July 13, the company received notice and is now subject to a six-month “cure period,” during which the company...
Walter Investment Management Corp. received notice from the New York Stock Exchange this week that the company fell below compliance standards after its average closing price fell below $1 over a consecutive 30-day trading period.
“There is a very real chance that Walter may under go bankruptcy, restructuring, or further asset ales to raise cash,”...
Zhang pointed to the losses, along with their subservicing fees and slowing origination volumes, as reasons not to hold the stock, and echoed sentiment from earlier in the month about Walter’s probability of entering bankruptcy.
“We plan to honor all existing commitments and continue to fulfill loans in our originations pipeline,” said Whitney...
Walter will maintain its reverse mortgage servicing operations under RMS, the company confirmed to Reverse Mortgage Daily.
“Needless to say, we are disappointed by these results and we have developed a strategy to deal with the issues at hand...
Following a dismal second quarter for earnings, Walter Investment Management Corp. (NYSE: WAC) is undertaking plans to re-engineer various segments of its business, including a strategic review of the company’s reverse mortgage interests.
And that’s not all. Walter also agreed in principle to sell New Residential substantially all of the assets of Walter...
Walter Investment Management entered into an agreement Tuesday to sell $35 billion in seasoned conventional mortgage servicing rights to New Residential Investment for the price of $231 million.
According to the Post, a Nationstar spokesperson said the company has never originated a reverse mortgage in New York,...
The regulator is seeking documents related to alleged defaults, efforts to help borrowers catch up, complaint logs and responses, a list of all foreclosures against New York borrowers, and a status update on those cases.