Walter Investment Buys $6.3M in Loans Held by Pool of Mortgages
- Sep 02, 2010
Tampa‑Walter Investment Management Corp. completed the purchase of a pool of residential first-lien mortgage loans utilizing $6.3 million of proceeds from its equity offering.
This transaction completes the purchase of $20 million of loans previously disclosed as being under letters of intent.
The pool generally consists of performing, fixed and adjustable rate mortgages located within Walter Investment’s existing southern U.S. geographic footprint. The company says that it anticipates this asset purchase will provide an unlevered return to shareholders in excess of its minimum return hurdles.