We may not be able to consummate those dispositions, or the proceeds from the dispositions may not be adequate to meet any debt service obligations then due. The actual amount, if any, of this exposure is difficult to estimate and requires significant management judgment as curtailment obligations are an emerging industry issue. Under HAMP, HARP and similar government programs, a participating servicer may be entitled to receive financial incentives in connection with any modification plans it enters into with eligible borrowers and subsequent success fees to the extent that a borrower remains current in any agreed upon loan modification. Other tests based on delinquency levels or other criteria may restrict our ability to receive net income from assets collateralizing the obligations. Our existing portfolio includes less-than-prime residential loans and sub-performing and non-performing residential loans, which are subject to increased risks of loss. At any time prior to or during the foreclosure proceedings, the borrower may file for bankruptcy, which would have the effect of staying the foreclosure actions and further delaying the foreclosure process. Our Secured Credit Agreement, including our Incremental Secured Credit Facility, contains various covenants that limit our ability to engage in specified types of transactions.
Walter Investme Balance Sheet
Our Company is a diversified mortgage banking firm focused primarily on the servicing and origination of residential loans, including reverse loans. Through our more than 50 year history, we have developed a deep and specialized knowledge of credit-sensitive assets, making us an ideal partner to service and originate for this asset class. The Walter Investment family of mortgage companies is uniquely positioned to partner with consumers through the complete homeownership lifecycle. We are a diversified mortgage banking firm focused on supporting sustainable homeownership, treating each mortgage as an opportunity to provide a service and not simply as a product. Our goal is to become a lifetime partner for our customers; assisting them through the originations process in an open, honest and straightforward manner and sustaining affordable homeownership with our highly regarded servicing platform and reverse mortgage solutions. This focus is demonstrated in each of our product offerings throughout the mortgage value chain and by our attention to customer service.
Most Recent Annual Report
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About Walter Investment Management Corp.
Our Company is a diversified mortgage banking firm focused primarily on the servicing and origination of residential loans, including reverse loans. Through our more than 50 year history, we have developed a deep and specialized knowledge of credit-sensitive assets, making us an ideal partner to service and originate for this asset class. The Walter Investment family of mortgage companies is uniquely positioned to partner with consumers through the complete homeownership lifecycle.
We are a diversified mortgage banking firm focused on supporting sustainable homeownership, treating each mortgage as an opportunity maagement provide a service and not simply as a product. Our goal is to become a lifetime partner for our customers; assisting them through the ealter process in an open, honest and straightforward manner and sustaining affordable homeownership with our highly regarded servicing platform and reverse mortgage solutions. Walter investment management annual report focus is demonstrated in each of our product offerings throughout the mortgage value chain and by our attention to customer service.
Our focus on instilling a inveetment of compliance throughout our businesses enhances our ability to meet ever-changing regulatory expectations as the mortgage industry continues to mature. We assisted approximately 66, homeowners in obtaining modifications compared to 39, inproviding our customers with affordable solutions that allowed them to stay in their homes and demonstrating our commitment to sustainable homeownership.
We originated approximately 56, HARP loans, helping homeowners gain access to affordable refinancing. Additionally, our servicing repprt maintained the prestigious Fannie Mae 4-STAR servicer rating, earning this distinction for the second consecutive year. We are proud of the number of homeowners we assisted and of our overall operational accomplishments in and remain starkly conscious of the work we need to continue to do to meet our business objectives to positively impact our shareholder value increasing value for you.
We continue to redouble our efforts to not just meet but exceed all regulatory expectations. We have worked to improve our processes and inspire our people, resulting in a more aware and proactive employee population.
This said, we also understand there is more work to be done inevstment the standards of compliance are so exacting, and we are collectively focused on creating a stronger culture of compliance. Our overarching goal remains to provide compliant and replrt service to both our consumers and the owners of credit. The changes to the HECM product announced by HUD in late meaningfully impacted our Reverse Mortgage business this year as the new products available to borrowers resulted in lower wslter available principal draws, deferring a significant amount of potential cash flow to future years.
As utilization caps on the loans originated in expire and borrowers decide to make their second draws we expect to realize the full value of this investmentt. All told, the operational gains we experienced inbalanced with our continued dedication to building a culture of compliance, position inveetment for what I believe will be a year of marked and steady growth, delivering a quality experience for the many constituents we serve.
With originations, servicing and reverse under one roof, consumers can remain with the Walter family from their first mortgage through servicing and ultimately obtain a reverse watler should it be the right product annnual the borrower. We can truly meet the consumer at every stage of their homeownership lifecycle, a unique opportunity not many organizations can offer.
As we undertake this important customer-focused manxgement efficiency-driven effort, all activities will be underscored by the guiding principles of this consolidation: Partnering with our customers to achieve sustainable homeownership Providing service rwport through the life of the mortgage relationship from originations through servicing and ultimately the origination of a reverse mortgage Streamlining our operations annula operate more efficiently and effectively looking ahead.
We expect this growth to be driven by bulk MSR acquisitions, organic replenishment from originations and an increase in our sub-servicing mix via leveraging our relationships with external capital partners. We also anticipate servicing to benefit from improving borrower credit quality and declining delinquency rates which we expect to result in a reduction of related servicing costs.
In originations, we anticipate retention volumes will be impacted by a reduction in the HARP opportunity and expect a transition to the retail and consumer direct channels to somewhat offset volume lost in the retention channel.
Further, we believe consolidating originations and servicing is strategically important as loans originated can be serviced by managgement same company, building stronger brand identity and loyalty over the life of the loan. Anjual consolidation will be underscored by an enhanced focus on the use of technology to drive efficiencies through the reduction of duplicative waltsr, driving cost out of our operations and enabling us to become a stronger, more unified end-to-end mortgage company.
Simply, on multiple levels, we believe these businesses will be stronger together, more nimble and better poised to deliver on our value proposition to our consumers. Finally, we will continue to leverage relationships with external capital partners to maintain additional flexibility in our balance sheet. Our Walter Investment team is actively engaged in taking steps to better deliver on our promise to our current customers and potential consumers znnual provide compliant and excellent service while supporting sustainable homeownership.
We believe these collective efforts will position us to deliver value in a meaningful way to all our stakeholders, including each and every shareholder.
MARK J. Such information is also furnished upon written request to: Walter Managemenf Management Corp. Employees: 4, Operations: Tampa, Florida; St. Q3 Earnings Presentation Three Months Ended September 30, November 6, Forward Looking Statements Any statements in this presentation that are not historical or current facts are forward-looking.
Q1 Earnings Presentation Three Months Ended March 31, May 15, Forward Looking Statements Any statements in this presentation that are not historical or current facts are forward-looking.
Announces Second Quarter Results Earnings per share for the three months ended June 30, rose to. Neese VP, Investor Relations michael. Announces Results Fully diluted earnings per share for the three months ended December 31, rose.
SeaWorld Entertainment, Inc. The Goldman Sachs Group, Inc. Two Harbors Investment Corp. November 4, Two Harbors Investment Corp. Periodic webinars from Two Harbors will provide. Investor Relations Contact: Jeremy Lucas repoort McCarthy Lisa K. Financial Summary 2. Quarterly Consolidated Income Statement 3. Other than statements of historical facts. Q1 earnings conference. Citi U. Toronto, May 4, — Home Capital today reported. What help is available for borrowers who stay current. Additional Information: Thomas A.
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Annual Reports
Our Company. In Januarythe Federal Housing Finance Agency directed Fannie Mae and Freddie Mac to develop a joint initiative to consider alternatives for future mortgage servicing structures and compensation. We cannot guarantee that any such scrutiny and investigations will not reveal violations of law or regulation that may adversely affect our business. Unlike competitors that are banks, we are subject to waltre licensing requirements and substantial compliance costs. Among other things, Assurant agreed not to pay compensation to servicers and their affiliates on forced-placed insurance policies obtained by the servicer. The liquidation proceeds upon sale of such real estate may not be sufficient to recover our cost basis in the loan, resulting in a loss to us. We are highly dependent on U. The Company has from time to time used various derivative financial instruments to provide a level of protection against interest rate feport. Additionally, awlter enter into third party relationships to assist with various aspects of our business, some of which require the exchange of confidential borrower information. In addition, in the event a mortgage loan serviced by us defaults or becomes delinquent, walter investment management annual report repayment to us of the advance may be delayed until the mortgage loan is repaid or refinanced or a liquidation occurs. The outcome of these proceedings may adversely affect our financial results. Our level of indebtedness could adversely affect our ability to raise additional capital to fund our operations, limit our ability to react to changes in the economy or our industry, expose us to interest rate risk to the extent of our variable rate debt and prevent us from meeting our obligations. We operate throughout the United States, or U. The business in which we engage is complex and heavily regulated, and changes in the regulatory environment affecting our business could have a material adverse effect on our business, financial position, results of operations or cash flows.
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