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Stock Market & Financial Investment News

News Breaks
February 18, 2013
18:10 EDTWACWalter 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."
News For WAC From The Last 14 Days
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November 23, 2015
16:30 EDTWACWalter Investment agrees to increase board to 11 directors
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November 17, 2015
17:20 EDTWACWalter Investment shares jump after reaching consensus with Birch hedge fund
Shares of Walter Investment Management (WAC) jumped 11.94% to $11.16 on Tuesday after the company announced the appointment of Daniel Beltzman, co-founder of hedge fund Birch Run Capital, to its board of directors. Walter Chief Executive Officer Denmar Dixon commented that the company is "firmly committed" to enhancing shareholder value and has maintained a "longstanding and constructive dialogue with Birch Run." In connection with the appointment, the company also said Birch entered into an agreement permitting it to acquire up to 25% of Walter's common stock while also agreeing to vote its shares in support of the company's current directors. Additionally, Walter Investment said it plans to appoint a new non-management director "as soon as practicable."

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