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News Breaks | | | | February 18, 2013 | | 18:10 EDT |  | WAC | Walter Investment buys Ally's correspondent lending/wholesale broker businesses
Walter Investment Management 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. Mark J. O'Brien, Chairman and CEO of Walter Investment said, "This transaction brings to Walter Investment a team of knowledgeable, experienced employees with which to pursue correspondent lending opportunities, using the outstanding capabilities resident in the recently acquired ResCap originations platform. We look forward to working with this team as we execute on our strategic plans for the originations business." | |
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