Walter Investment Management Corp. (NYSE:WAC) Files An 8-K Entry into a Material Definitive Agreement

Walter Investment Management Corp. (NYSE:WAC) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement.

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As previously disclosed, on July31, 2017, Walter Investment Management Corp. (the “Company”) entered into a Restructuring Support Agreement (the “Restructuring Support Agreement”) with lenders holding, as of July31, 2017, more than 50% of the loans and/or commitments outstanding under that certain Amended and Restated Credit Agreement, dated as of December19, 2013, by and among the Company, as the borrower, Credit Suisse AG, as administrative agent, and the lenders party thereto (the “Credit Agreement”). As of the date hereof, lenders holding approximately 91% of the loans and/or commitments outstanding under the Credit Agreement have agreed to the terms of the Restructuring Support Agreement. On August2, 2017, the Company and the Requisite Term Lenders entered into the First Amendment to the Restructuring Support Agreement (together with the Restructuring Support Agreement, the “RSA”). Capitalized terms used herein that are not otherwise defined have the meanings ascribed to them in the RSA.

On August22, 2017, the Company and the Requisite Term Lenders entered into the Second Amendment (“Amendment No.2”) to the RSA. Amendment No.2 revised the escrow provisions of the RSA to provide that the full Escrow Amount be released on August23, 2017 and to provide that the Escrow Amount be applied to the Term Loans as a voluntary prepayment to Section2.12(a) of the Credit Agreement, on a pro rata basis in direct order of maturity.

The foregoing description of Amendment No.2 does not purport to be complete and is qualified in its entirety by reference to the copy of Amendment No.2 which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.

Item 1.01. Financial Statements and Exhibits.

(d) Exhibits.

10.1 Second Amendment to Restructuring Support Agreement, dated as of August22, 2017, by and among Walter Investment Management Corp. and the Requisite Term Lenders


WALTER INVESTMENT MANAGEMENT CORP Exhibit
EX-10.1 2 d449593dex101.htm EX-10.1 EX-10.1 Exhibit 10.1 SECOND AMENDMENT TO RESTRUCTURING SUPPORT AGREEMENT This SECOND AMENDMENT TO RESTRUCTURING SUPPORT AGREEMENT dated as of August 22,…
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About Walter Investment Management Corp. (NYSE:WAC)

Walter Investment Management Corp. is a diversified mortgage banking firm focused primarily on the servicing and origination of residential loans, including reverse loans. The Company operates through three segments: Servicing, Originations and Reverse Mortgage. The Servicing segment consists of operations that perform servicing for third-party credit owners of mortgage loans, as well as its own mortgage loan portfolio. The Servicing segment also includes Insurance, and Loans and Residuals businesses. The Originations segment consists of operations that originate and purchase mortgage loans that are intended for sale to third parties. The Reverse Mortgage segment consists of operations which purchases and originates home equity conversion mortgage that are securitized, but remain on the consolidated balance sheet as collateral for secured borrowings.

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