Losses turned to profits during the last quarter of 2016 at Walter Investment Management Corp. The mortgage servicing portfolio significantly declined.

During the final-three months of last year, income prior to income taxes came to $27 million. Earnings swung from a $158 million loss the prior quarter.

The results, in addition to other operational and financial metrics, were included in the Tampa, Florida-based firm’s fourth-quarter 2016 earnings report.

Source: Mortgage Daily