New Residential Mortgage LLC agreed in principle to acquire substantially all of the assets of Walter Capital Opportunity, LP from Walter Investment Management Corp. for approximately $280 million.

New Residential Mortgage LLC agreed in principle to acquire substantially all of the assets of Walter Capital Opportunity, LP from Walter Investment Management Corp. (NYSE:WAC) for approximately $280 million on August 9, 2016. Acquisition includes certain related assets owned by Walter, which, collectively, represent approximately $37 billion Unpaid Principal Base (UPB) of Mortgage Servicing Rights (MSR). The transaction is subject to regulatory approval, negotiation and execution of definitive documentation and certain customary closing conditions. The transaction is expected to close in the third or fourth quarter of 2016.