X0306 4 2016-06-09 0001040719 WALTER INVESTMENT MANAGEMENT CORP WAC 0001550099 Beltzman Daniel Gordon 1350 BROADWAY SUITE 2215 NEW YORK NY 10018 1 0 1 0 0001550336 Smith Gregory Howard 1350 BROADWAY SUITE 2215 NEW YORK NY 10018 0 0 1 0 0001541457 Birch Run Capital Advisors, LP 1350 BROADWAY SUITE 2215 NEW YORK NY 10018 0 0 1 0 0001599312 BRC Advisors GP, LLC 1350 BROADWAY SUITE 2215 NEW YORK NY 10018 0 0 1 0 Common Stock 2016-06-09 4 A 0 35330 0 A 35682.41 D Common Stock 974587 I By Birch Run Capital Partners, LP Common Stock 3000000 I By Walloon BRC, LP Common Stock 3500000 I By Pike BRC, LP The Reporting Person, Daniel Beltzman, was awarded a grant of 35,330 immediately vesting restricted stock units (RSUs) of Walter Investment Management Corp. (the "Issuer") pursuant to the Issuer's 2011 Omnibus Incentive Plan, as amended and restated. Each RSU represents a contingent right to receive one share of the Issuer's common stock. Prior to the award, Mr. Beltzman held 352.41 shares of common stock directly. Following the award, Mr. Beltzman directly holds 35,682.41 shares of common stock of the Issuer for which he exercises sole voting and dispositive power. These securities are held directly by Birch Run Capital Partners, L.P., Walloon BRC, L.P. and Pike BRC, L.P. (collectively, "the Funds"). As of the date of this filing: Birch Run Capital Partners, L.P. directly holds 974,587 shares of common stock of the Issuer; Walloon BRC, L.P. directly holds 3,000,000 shares of common stock of the Issuer; and Pike BRC, L.P. directly holds of 3,500,000 shares of common stock of the Issuer. Birch Run Capital GP, L.L.C. serves as the General Partner to Birch Run Capital Partners, L.P. Walloon BRC GP, L.L.C. serves as the General Partner to Walloon BRC, L.P. Pike BRC GP, L.L.C. serves as the General Partner to Pike BRC, L.P. (collectively, "the General Partners"). Daniel Beltzman and Gregory Smith are the Co-Managing Members of the General Partners. As owners of the General Partners to the Funds, Messrs. Beltzman and Smith may share in an allocation of the profits of the Funds. Birch Run Capital Advisors, L.P. (the "Adviser") serves as the Investment Adviser to the Funds. Pursuant to management agreements among the Adviser, the Funds, and their respective general partners, the Adviser has complete and unlimited discretion and authority with respect to the Funds' investments and voting power over investments. In connection with the services provided by the Adviser, the Adviser receives an asset-based management fee that does not confer any pecuniary interest in the securities held by the Funds. BRC Advisors GP, L.L.C. ("Adviser GP") is the General Partner to the Adviser. Daniel Beltzman and Gregory Smith are the Limited Partners of the Adviser and the Co-Managing Members of the Adviser GP. The Adviser, the Adviser GP, Daniel Beltzman and Gregory Smith may be deemed to share voting and dispositive power over the reported securities. Each of the Adviser, the Adviser GP, Daniel Beltzman, and Gregory Smith disclaim beneficial ownership of the reported securities except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose. /s/ Daniel Beltzman 2016-06-10 /s/ Gregory Smith 2016-06-10 Birch Run Capital Advisors, L.P. By: BRC Advisors GP, L.L.C., its general partner, Name: Caren E. Abramovich Title: Chief Operating & Compliance Officer /s/ Caren E. Abramovich 2016-06-10 BRC Advisors GP, L.L.C., Name: Caren E. Abramovich, Title: Chief Operating & Compliance Officer /s/ Caren E. Abramovich 2016-06-10