Walter Investment Management Corp (WAC)

[BigDog0708]

I finally had a chance to read filing and both exhibits. Seems to be an all encompassing recap of all the prior 8k filings over the summer, etc.

What I don't understand is the "Solicitation" that commenced on 11/6. This is yet another VOTE to accept or reject RSA Plan or another group of creditors that has yet to weigh in. I gathered from the 8k dated 10/26 and the press release on 10/20 this was for the most part a done deal. "See Snip It below"

Plus, the credit commitment of 1.9 billion to be approved by the BK Court is very positive.

I suppose this is where the rubber meets the road.


RECOMMENDATION BY THE DEBTOR AND THE AFFILIATE CO-PLAN PROPONENTS

The Board of Directors of Walter Investment Management Corp. and the Board of Directors, managers or members, as applicable, of each of the Affiliate Co-Plan Proponents (as defined herein) have approved the transactions contemplated by the Solicitation and the Plan and recommend that all creditors whose votes are being solicited submit ballots to accept the Plan. Holders of more than 95% of the Term Loan Claims (as defined herein) and more than 85% of the Senior Notes Claims (as defined herein) have already agreed to vote in favor of the Plan.