TAMPA, Fla., Feb. 8, 2016 /PRNewswire/ -- Walter Investment Management Corp. (NYSE: WAC) ("Walter Investment" or the "Company") today announced that David Schneider, EVP of Walter Investment and President, Servicing of Ditech Financial LLC ("Ditech"), will be named President of Ditech with responsibility for leading both the Servicing and Originations businesses, effective immediately. Patricia Cook, EVP of Walter Investment and President, Originations of Ditech, will be leaving the Company.

"As the mortgage industry and our business continue to evolve, we felt it was an important progression to unify Ditech's leadership. David has deep experience in both the servicing and originations sectors and will lead our efforts as we strive to deliver excellent service to our customers, drive a strong culture of compliance and improve efficiency across the business," said Denmar J. Dixon, Walter Investment's Vice Chairman, Chief Executive Officer and President. "We have consistently demonstrated our robust originations capabilities and expect to continue to concentrate our efforts on the growth and development of both our Consumer and Correspondent channels."

"I want to thank Patti for her meaningful contributions to Walter Investment during her tenure, including leading the organization's business development efforts and, most recently, managing our Originations business, including growing the Ditech brand," continued Dixon.

About Walter Investment Management Corp.

Walter Investment Management Corp. is a diversified mortgage banking firm focused primarily on the servicing and origination of residential loans, including reverse loans. Based in Tampa, Fla., the Company has approximately 5,850 employees and services a diverse loan portfolio. For more information about Walter Investment Management Corp., please visit the Company's website at www.walterinvestment.com. The information on our website is not a part of this release.

Disclaimer and Cautionary Note Regarding Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Statements that are not historical fact are forward-looking statements. Certain of these forward-looking statements can be identified by the use of words such as "believes," "anticipates," "expects," "intends," "plans," "projects," "estimates," "assumes," "may," "should," "will," or other similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors, and our actual results, performance or achievements could differ materially from future results, performance or achievements expressed in these forward-looking statements. These forward-looking statements are based on our current beliefs, intentions and expectations. These statements are not guarantees or indicative of future performance. Important assumptions and other important factors that could cause actual results to differ materially from those forward-looking statements include, but are not limited to, those factors, risks and uncertainties described below and in more detail under the caption "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2014, our Quarterly Reports on Form 10-Q for the quarterly periods ended March 31, 2015, June 30, 2015 and September 30, 2015 and in our other filings with the SEC.

In particular (but not by way of limitation), the following important factors, risks and uncertainties could affect our future results, performance and achievements and could cause actual results, performance and achievements to differ materially from those expressed in the forward-looking statements:


    --  our ability to operate our business in compliance with existing and
        future rules and regulations affecting our business, including those
        relating to the origination and servicing of residential loans, the
        management of third-party assets and the insurance industry (including
        lender-placed insurance), and changes to, and/or more stringent
        enforcement of, such rules and regulations;
    --  increased scrutiny and potential enforcement actions by federal and
        state authorities;
    --  the substantial resources (including senior management time and
        attention) we devote to, and the significant compliance costs we incur
        in connection with, regulatory and contractual compliance and regulatory
        examinations and inquiries, and any consumer redress, fines, penalties
        or similar payments we make in connection with resolving such matters;
    --  uncertainties relating to interest curtailment obligations and any
        related financial and litigation exposure (including exposure relating
        to false claims);
    --  potential costs and uncertainties, including the effect on future
        revenues, associated with and arising from litigation, regulatory
        investigations and other legal proceedings;
    --  our dependence on U.S. government-sponsored entities (especially Fannie
        Mae) and agencies and their residential loan programs and our ability to
        maintain relationships with, and remain qualified to participate in
        programs sponsored by, such entities, our ability to satisfy various
        existing or future GSE, agency and other capital, net worth, liquidity
        and other financial requirements applicable to our business, and our
        ability to remain qualified as a GSE approved seller, servicer or
        component servicer, including the ability to continue to comply with the
        GSEs' respective residential loan and selling and servicing guides;
    --  uncertainties relating to the status and future role of GSEs, and the
        effects of any changes to the origination and/or servicing requirements
        of the GSEs or various regulatory authorities or the servicing
        compensation structure for mortgage servicers pursuant to programs of
        GSEs or various regulatory authorities;
    --  our ability to maintain our loan servicing, loan origination, insurance
        agency or collection agency licenses, or any other licenses necessary to
        operate our businesses, or changes to, or our ability to comply with,
        our licensing requirements;
    --  our ability to comply with the servicing standards required by the
        National Mortgage Settlement;
    --  our ability to comply with the terms of the stipulated order resolving
        allegations arising from an FTC and CFPB investigation of Ditech
        Financial;
    --  operational risks inherent in the mortgage servicing and mortgage
        originations businesses, including reputational risk;
    --  risks related to our substantial levels of indebtedness, including our
        ability to comply with covenants contained in our debt agreements,
        generate sufficient cash to service such indebtedness and refinance such
        indebtedness on favorable terms, as well as our ability to incur
        substantially more debt;
    --  our ability to renew advance financing facilities or warehouse
        facilities and maintain borrowing capacity under such facilities;
    --  our ability to maintain or grow our servicing business and our
        residential loan originations business;
    --  our ability to achieve strategic initiatives, particularly our ability
        to: raise capital; execute and complete balance sheet management
        activities; make arrangements with potential capital partners; complete
        sales of assets to, and enter into other arrangements with, WCO; and
        develop new business, including acquisitions of MSRs or entering into
        new sub-servicing arrangements;
    --  changes in prepayment rates and delinquency rates on the loans we
        service or sub-service;
    --  the ability of our clients and credit owners to transfer or otherwise
        terminate our servicing or sub-servicing rights;
    --  a downgrade in our servicer ratings or credit ratings;
    --  our ability to collect reimbursements for servicing advances and earn
        and timely receive incentive and performance payments and ancillary fees
        on our servicing portfolio;
    --  our ability to collect indemnification payments and enforce repurchase
        obligations relating to mortgage loans we purchase from our
        correspondent clients and our ability to collect indemnification
        payments relating to servicing rights we purchase from prior servicers;
    --  local, regional, national and global economic trends and developments in
        general, and local, regional and national real estate and residential
        mortgage market trends in particular, including the volume and pricing
        of home sales, the credit quality of loan origination customers and
        uncertainty regarding the levels of mortgage originations and
        prepayments;
    --  uncertainty as to the volume of originations activity we will benefit
        from prior to, and following, the expiration of HARP, which is scheduled
        to occur on December 31, 2016, including uncertainty as to the number of
        "in-the-money" accounts we may be able to refinance;
    --  risks associated with the origination, securitization and servicing of
        reverse mortgages, including changes to reverse mortgage programs
        operated by FHA, HUD or Ginnie Mae, our ability to accurately estimate
        interest curtailment liabilities, continued demand for HECM loans and
        other reverse mortgages, our ability to fund HECM repurchase
        obligations, our ability to fund principal additions on our HECM loans,
        and our ability to securitize our HECM loans and tails;
    --  our ability to realize all anticipated benefits of past, pending or
        potential future acquisitions or joint venture investments;
    --  the effects of competition on our existing and potential future
        business, including the impact of competitors with greater financial
        resources and broader scopes of operation;
    --  changes in interest rates and the effectiveness of any hedge we may
        employ against such changes;
    --  risks and potential costs associated with technology and cybersecurity,
        including: the risks of technology failures and of cyber-attacks against
        us or our vendors; our ability to adequately respond to actual or
        alleged cyber-attacks; our ability to implement adequate internal
        security measures and protect confidential borrower information; and
        disruptions to our business in connection with the implementation of new
        technology, the use of new vendors or the transfer of our servers or
        other infrastructure to new data center facilities;
    --  our ability to comply with evolving and complex accounting rules, many
        of which involve significant judgment and assumptions;
    --  uncertainties regarding impairment charges relating to our goodwill or
        other intangible assets;
    --  our ability to maintain effective internal controls over financial
        reporting and disclosure controls and procedures;
    --  our ability to manage conflicts of interest relating to our investment
        in WCO; and
    --  risks related to our relationship with Walter Energy and uncertainties
        arising from or relating to its bankruptcy filings, including potential
        liability for any taxes, interest and/or penalties owed by the Walter
        Energy consolidated group for the full or partial tax years during which
        certain of the Company's former subsidiaries were a part of such
        consolidated group and certain other tax risks allocated to us in
        connection with our spin-off from Walter Energy.

All of the above factors, risks and uncertainties are difficult to predict and reflect uncertainties that may materially affect actual results and may be beyond our control. New factors, risks and uncertainties emerge from time to time, and it is not possible for our management to predict all such factors, risks and uncertainties.

Although we believe that the assumptions underlying the forward-looking statements (including those relating to our outlook) contained herein are reasonable, any of the assumptions could be inaccurate, and therefore any of these statements included herein may prove to be inaccurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by us or any other person that the results or conditions described in such statements or our objectives and plans will be achieved. We make no commitment to revise or update any forward-looking statements in order to reflect events or circumstances after the date any such statement is made, except as otherwise required under the federal securities laws. If we were in any particular instance to update or correct a forward-looking statement, investors and others should not conclude that we would make additional updates or corrections thereafter except as otherwise required under the federal securities laws.

In addition, this press release may contain statements of opinion or belief concerning market conditions and similar matters. In certain instances, those opinions and beliefs could be based upon general observations by members of our management, anecdotal evidence and/or our experience in the conduct of our business, without specific investigation or statistical analyses. Therefore, while such statements reflect our view of the industries and markets in which we are involved, they should not be viewed as reflecting verifiable views and such views may not be shared by all who are involved in those industries or markets.

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SOURCE Walter Investment Management Corp.