News Column

WALTER INVESTMENT MANAGEMENT CORP FILES (8-K) Disclosing Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

February 13, 2014



Item 1.01 Entry into a Material Definitive Agreement

On February 7, 2014, Green Tree Servicing LLC ("Green Tree"), a wholly owned indirect subsidiary of Walter Investment Management Corp. (the "Company"), entered into a Joinder Agreement and Omnibus Amendment dated February 7, 2014 (the "Joinder Amendment") by and among Green Tree, as initial seller ("Initial Seller"), The Royal Bank of Scotland PLC, as buyer ("RBS"), Wells Fargo Bank N.A., as disbursement agent ("Wells Fargo"), U.S. Bank National Association, as bank ("U.S. Bank"), the Company, as guarantor, and Ditech Mortgage Corp., a wholly owned indirect subsidiary of the Company, as joining seller ("Joining Seller"). The Joinder Amendment amends and modifies the Master Repurchase Agreement, dated as of February 1, 2013, between Initial Seller and RBS (the "Warehouse Agreement") and certain transaction documents related thereto by providing for, among other things, extending the maturity date of the facility until January 30, 2015, the inclusion of Ditech Mortgage Corp., as a seller into the facility, joint and several liability for Initial Seller and Joining Seller under the terms of the Warehouse Agreement, and additional representations and warranties to address recent regulatory requirements regarding Qualified Mortgages and the Ability-to-Repay rule.

In the ordinary course of business, RBS, Wells Fargo and U.S. Bank or their affiliates have engaged and may in the future engage in various financing, commercial banking and investment banking services with, and provide financial advisory services to, the Company and certain of its affiliates for which they have received or may receive customary fees and reimbursement of expenses.

The Warehouse Agreement is more fully described in Item 1.01 of the Current Report on Form 8-K of the Company filed on February 7, 2013 and filed as Exhibit 10.1 thereto, which Item is incorporated herein by reference.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an

Off-Balance Sheet Arrangement of a Registrant.

Item 1.01 of this Current Report on Form 8-K is incorporated in its entirety into this Item 2.03 by reference.

--------------------------------------------------------------------------------


For more stories on investments and markets, please see HispanicBusiness' Finance Channel



Source: Edgar Glimpses


Story Tools