Walter Investment Management Corp. reported earnings for the fourth quarter and year ended December 31, 2016. For the quarter, GAAP net loss was $22.2 million, or $0.61 per share, as compared to a GAAP net loss of $117.1 million, or $3.16 per share for the quarter ended December 31, 2015. The 2016 net loss includes goodwill impairment charges of $8.2 million after tax, or $0.22 per share, and non-cash benefit of $97.0 million after tax, or $2.67 per share, resulting primarily from fair value changes due to changes in valuation inputs and other assumptions. AEBITDA was $43.3 million and adjusted loss was $40.1 million after tax, or $1.10 per share. Factors contributing to the fourth quarter adjusted loss and AEBITDA include a reduction in servicing revenue and higher G&A expenses offset by lower salaries and benefits costs.

For the year, the company reported a GAAP net loss of $529.2 million, or $14.71 per share, as compared to a GAAP net loss of $263.2 million, or $7.00 per share for the year ended December 31, 2015. The 2016 net loss includes goodwill and intangible assets impairment charges of $202.3 million after tax, or $5.62 per share, and non-cash charges of $140.7 million after tax, or $3.91 per share, resulting from fair value changes due to changes in valuation inputs and other assumptions. Adjusted EBITDA was $322.9 million and adjusted loss was $81.4 million after tax, or $2.26 per share.

For the quarter, the company reported goodwill impairment charges of $8.2 million after tax, or $0.22 per share.