Green Tree Acquired by Walter Investments

Bloomberg reports Walter Investment Management Corp. (NYSE: WAC) of Florida is acquiring Green Tree Credit Solutions (NYSE: GTCS), commonly known as Green Tree, of Minnesota, for $745 million.  Green Tree’s $37.5 billion portfolio includes manufactured housing loans as well as consumer loans and residential mortgages.  The goal stated by Walter’s CEO is to capture more of the specialty mortgage services sector.  The total deal including the debt is valued at $1.065 billion.  This transaction will negate Walters’ qualifying as a real estate investment trust (REIT).

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