Walter Investment Management has completed the purchase of a pool of residential first lien mortgage loans using proceeds from its equity offering.

This purchase represents approximately USD14.5m of the USD20m previously disclosed as being under letters of intent.

The pool consists of performing, fixed and adjustable rate mortgages on single-family, owner-occupied residences primarily located within the company's existing south-eastern US geographic footprint.

The company anticipates this asset purchase will provide an unlevered return to shareholders in excess of its minimum return hurdles.

Walter Investment is an asset manager, mortgage servicer and mortgage portfolio owner specialising in less-than-prime, non-conforming and other credit-challenged mortgage assets.