Tax Proposals; Upcoming Events; G-Rate/Bemortgage Hiring Lawsuit

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Posted To: Pipeline Press

Lenders in the Courts In yet again another lesson about not putting all your retirement money in one basket (think WAMU, Countrywide, Nat City…), Walter Investment Management Corp. filed a Chapter 11 bankruptcy plan designed to reduce its corporate debt by $800 million over time. It has become a penny stock: Friday it was trading around 35 cents a share. In early 2013 its common stock was at nearly $46 per share. According to the filing with the SEC , Walter’s largest operating subsidiaries – mortgage banker Ditech Financial and reverse lender Reverse Mortgage Solutions – are not expected to file for Chapter 11 protection. But being cautious is the name of the game . For example, KBW Research announced, “We are dropping coverage of Walter Investment Management Corp. (WAC) as the company goes…(read more)

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