RMBS

REIT Agrees to Buy $90MM of Whole Loans

Published November 29, 2010 6:37 PM EST Updated December 1, 2010 2:39 PM EST 1 Min Read

Walter Investment Management Corp., Tampa, said it has signed deals to pay $90 million for several pools of mostly performing first liens from undisclosed sellers.

The pools consist of fixed-rate and ARMs collateralized by single-family, owner-occupied homes located in the company’s southern U.S. footprint.

The transactions are expected to close by yearend.

The publicly traded REIT said it continues to see “significant flows of loan pools being offered for sale.”

In a statement, company president Mark J. O’Brien said the firm has been working “diligently” to grow its acquisition pipeline and has $300 million of deals under contract or in the works.

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