Steven Berrard, Ellyn Brown and Michael Tokarz notified Walter Investment Management Corp.'s board that they will not stand for re-election at the upcoming annual stockholders meeting.

Berrard has been on Walter's board since March 2010. He is the managing partner of New River Capital Partners, a private equity fund he co-founded in 1997.

Brown and Tokarz have been with the board since April 2009. Brown was recently president of Brown & Associates, a corporate law and consulting firm that provided operational, regulatory and governance guidance to financial services clients and other entities that operate in highly regulated environments. Tokarz is the founder and chairman of the Tokarz Group LLC, a provider of investment banking services.