Walter Investment Management Corp. in Tampa has agreed to buy Marix Servicing of Arizona for what the companies called a "nominal" sum, according to a new public filing.
A few months ago National Mortgage News reported that Marix's owner, Marathon Asset Management, a hedge fund, was leaving the business of investing and trading in delinquent mortgages. At the time rumors abounded that it also would dump Marix, a relatively small servicer.
In its Securities and Exchange Commission filing, Walter, a publicly traded real estate investment trust, noted that an "earn-out" might be payable to the hedge fund but questioned whether that would ever happen.
