Walter Investment buys rights to $30 billion portfolio

TAMPA —Walter Investment Management Corp. has agreed to buy the rights to service a pool of mortgages valued at about $30 billion. The Tampa-based mortgage owner/servicer signed a definitive agreement with a large national depository institution to buy the servicing rights.

Backed by Fannie Mae, the portfolio consists of 270,000 accounts that are projected to be 99% current at the time of the sale and includes more than 100,000 accounts, which are eligible for the government-sponsored Home Affordable Refinance Program.

The deal is scheduled to occur in stages during the first three quarters of 2014.