Walter Investment Management Corp. Announces 2010 Dividend Tax Information

TAMPA, Fla., Feb. 3, 2011  /PRNewswire/ -- Walter Investment Management Corp. (NYSE Amex: WAC) ("Walter Investment" or the "Company") today announced tax information regarding its dividend distributions for 2010.

Shareholders should review the 2010 tax statements they receive from their brokerage firms to ensure the Walter Investment dividend information reported in those statements conforms to the information set forth below.  Furthermore, shareholders should consult their tax advisors to determine the amount of taxes that should be paid on Walter Investment's dividend distributions.

As a REIT, Walter Investment's dividends are generally not eligible for the tax rate reductions enacted for certain types of dividend income under the Jobs and Growth Tax Relief Reconciliation Act of 2003.  Walter Investment's 2010 dividends that are characterized as ordinary income will be taxed at full ordinary income rates. No portion of Walter Investment's 2010 dividend distributions consisted of "excess inclusion" income subject to the specialized tax reporting rules applicable to such income. For stockholders that are corporations, Walter Investment's dividends are not eligible for the corporate dividends-received deduction.  Long-term capital gains resulted from the prepayment of mortgages that were acquired at a discount.  There are no return of capital distributions for 2010. None of the 2010 long-term capital gain is attributable to sale or exchange of U.S. Real Property Interests.

As each shareholder's tax situation may be different and each dividend distribution may have its own separate tax status, the table below provided the detailed tax information for each of Walter Investment's dividends for 2010:

Because Walter Investment is a REIT, dividends declared in the last month of a calendar year with a record date in that calendar year, but which are payable in January of the following year, are considered paid for Form 1099 reporting purposes on the record date, not on the payable date, to the extent the REIT has any remaining undistributed earnings and profits (as computed for income tax purposes) as of December 31 of that calendar year. These amounts are treated for income tax purposes as 2010 distributions to Walter Investment shareholders to whom the distributions were payable in January 2011.

About Walter Investment Management Corp.

Walter Investment Management Corp. is an asset manager, mortgage servicer and mortgage portfolio owner specializing in less-than-prime, non-conforming and other credit-challenged mortgage assets. Based in Tampa, Fla., the Company currently has $1.8 billion of assets under management and annual revenues of approximately $180 million. The Company is structured as a real estate investment trust ("REIT") and employs approximately 340 people.  For more information about Walter Investment Management Corp., please visit the Company's website at www.walterinvestment.com.

Safe Harbor Statement

Certain statements in this release and in any of Walter Investment Management Corp.'s public documents referred to herein, contain or incorporate by reference "forward-looking" statements as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Walter Investment Management Corp. is including this cautionary statement to make applicable and take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements that are not historical fact are forward-looking statements. Words such as "expect," "believe," "anticipate," "project," "estimate," "forecast," "objective," "plan," "goal" and similar expressions, and the opposites of such words and expressions are intended to identify forward-looking statements.  Forward-looking statements are based on the Company's current beliefs, intentions and expectations; however, forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause actual results, performance or achievements, to differ materially from those reflected in the statements made or incorporated in this release. Thus, these forward-looking statements are not guarantees of future performance and should not be relied upon as predictions of future events.  The risks and uncertainties referred to above include, but are not limited to, the accuracy of management's due diligence on and its assessment of the Marix business; future economic and business conditions; the potential loss of key customers of Marix or reduction in the services contracted for by any such customers; the failure of the market for the Company's services to develop, the possibility that the Company may not be able to integrate successfully the business, operations and employees of the acquired business; the inability to manage growth; the effects of competition from a variety of local, regional, national and other mortgage servicers and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission (the "SEC"), including its Annual Report on Form 10-K for the year ended December 31, 2009 filed with the SEC on March 2, 2010.  

All forward-looking statements set forth herein are qualified by this cautionary statement and are made only as of February 3, 2011. The Company undertakes no obligation to update or revise the information contained herein, including without limitation, any forward-looking statements, whether as a result of new information, subsequent events or circumstances, or otherwise, unless otherwise required by law.

SOURCE Walter Investment Management Corp.