A company that acquired mortgage-servicing rights on more than $70 billion in loans from Walter Investment Management Corp. is planning a public offering to help fund the transaction.
On Tuesday, New Residential Investment Corp. announced that it was acquiring MSRs on $35 billion in conventional residential loans from Tampa, Florida-based Walter Investment.
In addition, New York-based New Residential agreed to acquire assets from Walter that include MSRs on another $37 billion in mortgages. The combined purchase price is $514 million.
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From:: Financing