January 29, 2013 at 14:28 PM EST
Bank Loan Castoffs Are Walter Investment's Jewels
It was once a sleepy division of a conglomerate-turned-energy company. Now Tampa, Fla.-based Walter Investment Management (WAC) seems to have shot up from nowhere to become one of the top specialty mortgage servicers in the U.S. In its field, only Nationstar Mortgage Holdings (NSM) and Ocwen Financial (OCN) are bigger. And its fee-based business keeps getting bigger. On Jan. 7, Walter snagged a $93 billion Fannie Mae (FNMA) servicing portfolio
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