- New Residential (NYSE:NRZ) agrees to buy about $35B UPB of seasoned conventional mortgage servicing rights from Walter Investment (WAC) for roughly $231M. In addition, NRZ has an agreement in principal to purchase substantially all the assets of Walter Capital Opportunity, and certain related assets of Walter Investment, which together represent another $37B of MSRs for $283M.
- There's also a flow agreement in which Walter will acquire MSRs of newly-originated residential mortgages of NRZ's New Residential Mortgage. The initial deal is for three years. Alongside this, Walter's Ditech Financial will provide the subservicing.
- The deals are expected to close sometime this year.