Walter Investment Management Corp (WAC)

[braden]

TAMPA, Fla., March 28, 2011 /PRNewswire/ -- Walter Investment Management Corp. (NYSE Amex: WAC) ("Walter Investment" or the "Company") today announced it has entered into a definitive agreement to purchase GTCS Holdings LLC ("Green Tree") in a transaction valued at $1.065 billion. Green Tree, based in St. Paul, Minnesota, is a leading independent, fee-based business services company which provides high-touch, third-party servicing of credit-sensitive consumer loans. Green Tree brings to Walter Investment a high-growth platform, with long-standing relationships with a diverse, blue chip customer base, as well as a highly successful management team which averages 25 years of industry experience. This acquisition will transform Walter Investment into a leading business services company focused on recurring, fee-based revenues generated from an "asset-light" platform.