Mortgage giant appoints new board member

TAMPA — Mortgage servicing firm Walter Investment Management Corp. appointed Daniel Beltzman to its board of directors, effective Dec. 7.

Beltzman is a co-founder of Birch Run Capital Advisors, an investment adviser firm headquartered in New York City. In connection with his appointment, Walter Investment amended its shareholder rights agreement to allow Birch Run to acquire up to 25% of its outstanding common stock, according to a statement.

Walter Investment also plans to identify and appoint a new non-management director and to transition the board to nine directors by the 2017 annual meeting, the statement adds.

Walter Investment, with $1.48 billion in sales in 2014, focuses primarily on servicing and originating residential loans. The company has about 6,000 employees.