Walter Investment Management Corp. Announces The Completion Of $825 Million Incremental First Lien Term Loan Facility

TAMPA, Fla., Jan. 24, 2013 /PRNewswire/ -- Walter Investment Management Corp. (NYSE: WAC) ("Walter Investment" or the "Company") announced today that it has completed the arrangement of it's incremental first lien term loan facility which was upsized due to significant demand from its original $475 million launch.

Credit Suisse Securities (USA) LLC, Morgan Stanley Senior Funding Inc. and Merrill Lynch, Pierce, Fenner & Smith Incorporated assisted the Company with the arrangement of an incremental $825 million facility to its existing $700 million senior secured first lien term loan facility maturing on November 28, 2017.  The Company intends to use the proceeds of borrowings to fund previously announced acquisitions of mortgage servicing rights (MSRs), to pay related transaction costs and expenses and for working capital and general corporate purposes.  The financing represents the completion of all necessary financings for committed projects including the ResCap and Bank of America MSR purchases and provides substantial remaining liquidity for the Company.

Mark J. O'Brien, Walter Investment's Chairman and Chief Executive Officer, said, "As a result of favorable conditions in the debt markets and strong reception of the Walter Investment credit, we were able to upsize the incremental facility to obtain the necessary funding for the acquisition of the Bank of America MSRs at very attractive terms.  We are very pleased by the substantial support we received from the lender group as well as with the competitive terms of the facility and associated attractive cost of capital.  We remain optimistic about the solid fundamentals in our sector and look forward to continuing our strong track record of growth and returns to all of our stakeholders."

About Walter Investment Management Corp.

Walter Investment Management Corp. is an asset manager, mortgage servicer and originator focused on finding solutions for consumers and credit owners.  Based in Tampa, Fla., the Company has over 2,900 employees and services a diverse loan portfolio.  For more information about Walter Investment Management Corp., please visit the Company's website at www.walterinvestment.com.

Disclaimer and Cautionary Note Regarding Forward-Looking Statements

This document contains forward-looking statements, including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements concerning Walter Investment's plans, beliefs, objectives, expectations and intentions and other statements that are not historical or current facts. Forward-looking statements are based on Walter Investment's current expectations and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements. Factors that could cause Walter Investment's results to differ materially from current expectations include, but are not limited to: the achievement of anticipated EBITDA margin levels which can be adversely affected by costs of our business that are higher than expected, the inability to achieve anticipated incentive fees which are subject to factors beyond the Company's control, customer take up rates of HARP refinancing and other factors that may affect the Company's earnings or costs; the close of the ResCap, Security One Lending, and other business and MSR acquisitions on schedule and the efficient integration of the businesses and transfer of the acquired MSRs to the Company's platforms; the accuracy of our assumptions as to platform synergies and the addition of new business in 2013; and other factors relating to our business in general as detailed in Walter Investment's 2011 Annual Report on Form 10-K and other periodic reports filed with the U.S. Securities and Exchange Commission. In addition, these statements are based on a number of assumptions that are subject to change. Accordingly, actual results may be materially higher or lower than those projected. The inclusion of such projections herein should not be regarded as a representation by Walter Investment that the projections will prove to be correct. This document speaks only as of this date. Walter Investment disclaims any duty to update the information herein.

SOURCE Walter Investment Management Corp.



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http://www.walterinvestment.com

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