ter Investment Appoints Vadim Perelman to its Board of Directors

Walter Investment Management Corp. WAC ("Walter Investment" or the "Company") today announced the appointment of Vadim Perelman, founder of Baker Street Capital Management, LLC ("Baker Street"), to its Board of Directors (the "Board") effective on December 7, 2015. "We welcome Vadim to the Walter Investment Board," said Denmar J. Dixon, the Company's Vice Chairman, Chief Executive Officer and President. "We believe his perspective as a significant shareholder will provide helpful insights to the Board and management team as we work to execute on our strategy and enhance value for all of the Company's shareholders." In connection with Mr. Perelman's appointment, the Company entered into an agreement with Baker Street pursuant to which Baker Street has agreed to vote all of its stock at the Company's upcoming annual meeting of shareholders in support of each current Class I director nominated by the Board, against any shareholder proposals not approved by the Board as well as to certain customary restrictions during the term of the agreement. The Company also announced that it has amended its existing shareholder rights agreement to permit Baker Street to acquire up to 25% of the Company's outstanding common stock. The Company had previously announced that the Board planned to identify and appoint a new non-management director and Mr. Perelman's appointment completes that process. With the addition of Mr. Perelman, the Company's Board will be expanded to eleven directors but, as previously announced, is expected to be transitioned to nine members on or before the 2017 annual meeting of shareholders. The agreement between the Company and Baker Street and the amendment to the Company's existing rights plan will be included as exhibits to a Form 8-K to be filed with the Securities and Exchange Commission.