Walter Investment Management Corporation (WAC) saw its loss widen to $529.16 million, or $14.71 a share for the year ended Dec. 31, 2016. In the previous year period, the company reported a loss of $263.19 million, or $7 a share. On the other hand, adjusted net loss for the year widened to $131.30 million, or $2.26 a share from a loss of $21.10 million or $0.35 a share, a year ago. Revenue during the year dropped 27.78 percent to $746.55 million from $1,033.72 million in the previous year. Non-interest income for the year fell 24.68 percent over the last year to $928.65 million.
However, the adjusted EBITDA for the year stood at $322.90 million compared with $101.20 million in the prior year period. At the same time, adjusted EBITDA margin improved 3346 basis points in the year to 43.25 percent from 9.79 percent in the last year period.
Assets, liabilities fall
Total assets stood at $16,758.90 million as on Dec. 31, 2016, down 9.86 percent compared with $18,591.50 million on Dec. 31, 2015. On the other hand, total liabilities stood at $16,478.64 million as on Dec. 31, 2016, down 7.35 percent from $17,786.82 million on Dec. 31, 2015. Shareholders equity stood at $280.26 million as on Dec. 31, 2016, down 65.17 percent or $524.42 million from year-ago.
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