Tuesday, May 22, 2018
Business

Two federal agencies investigating Walter Investment Management units

Walter Investment Management Corp. is facing probes from two federal agencies, the Tampa-based mortgage firm disclosed in a regulatory filing.

The company said it received a subpoena Oct. 2 from the Office of Inspector General in the U.S. Department of Housing and Urban Development seeking information on curtailed interested payments on loans serviced or sub-serviced by Reverse Mortgage Solutions. Walter, which bought RMS in 2012, said it is responding to the subpoena and does not have sufficient information to assess the impact of HUD's investigation.

Separately, the Consumer Financial Protection Bureau said its staff is recommending taking unspecified action against Walter's Green Tree operation for alleged violations of various federal consumer financial laws. Walter, which bought home loan servicer Green Tree in 2011, said it doesn't have enough information to assess "the existence, nature, outcome or impact of any such violations."

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