Bucking a trend among non-agency players, Walter Investment Management last week ceased operating as a real estate investment trust. While a number of non-agency REITs have formed recently, with more likely going forward, most are focused on investments in non-agency mortgage-backed securities. Walter, meanwhile, emphasizes non-prime third-party servicing. The company dropped its REIT status after its acquisition last week of Green Tree Credit Solutions. Walter officials said the company’s REIT status had put the company at ...