Ally Bank has sold its correspondent and wholesale mortgage production operations (the segment the company terms “business lending”) to Walter Investment Management Corp. Terms of the deal were not disclosed.

Previously in a joint bid with Ocwen, Walter had purchased a portion of the ResCap mortgage servicing portfolio. It also purchased the ResCap originations and capital markets business at the end of January.

Subscribe Now

Authoritative analysis and perspective for every segment of the mortgage industry

30-Day Free Trial

Authoritative analysis and perspective for every segment of the mortgage industry