Walter Investment Management Corp was incorporated in Maryland on June 10, 1997 as Hanover Capital Mortgage Holdings, Inc. The Company is a fee-based business services provider to the residential mortgage industry focused on providing primary and specialty servicing for credit-sensitive residential mortgages and reverse mortgages. The Company is a specialty servicer providing residential loan servicing that focuses on credit-sensitive residential mortgage assets located in the United States. It is also a mortgage portfolio owner and operates an insurance agency serving residential loan customers. The Company manages its business through six reportable segments: Servicing; Originations, Reverse Mortgage, Assets Receivables Management, Insurance, and Loans and Residuals. Servicing business segment consists of operations that perform servicing for third-party investors in forward loans, as well as its own forward loan portfolio for a fee-for-service basis. Originations business segment consists of operations that purchase and originate forward loans that are sold to third parties with servicing rights generally retained. Reverse Mortgage consists of operations that purchase and originate HECMs that are securitized, but remain on the consolidated balance sheet as collateral for secured borrowings referred to as HMBS related obligations. Assets Receivables Management business segment performs collections of post charge-off deficiency balances on behalf of securitization trusts and third-party asset owners. Insurance business segment consists of the assets and liabilities of the Residual Trusts, as well as its unencumbered residential loan portfolio and real estate owned, all of which are associated with forward loans. Loans and Residuals business segment consists of the assets and liabilities of the Residual Trusts, as well as its unencumbered residential loan portfolio and real estate owned, all of which are associated with forward loans. The Company competes with several third-party providers for servicing opportunities, including large financial institutions, as well as non-bank servicers. The Company's business is subject to numerous federal, state and local laws and regulations, and may be subject to judicial and administrative decisions imposing various requirements and restrictions.