Walter was signed as a free agent by the Carolina Panthers after attending his 1995 ELITE Regional Combine in Tampa, FL. In his rookie campaign with Carolina in 1997, Walter was named to the all-rookie team by Pro Football Weekly, College and Pro Football Weekly and Football News after ranking third in the league and setting a team-record with 29 punts inside the 20. His 36.4 yard net average ranked 3rd in the NFC while his 42.2 yard average and long of 62 yards set team records.
During the next three seasons he continued his excellent play. In 1998 he set a team-record with a 38.1 yard net average that ranked second in the NFL. In 1999 Walter compiled a 36.7 yard net average and 39.4 yard gross average on 65 punts for 2,562 yards with 18 inside the 20. His team-record one touchback ranked as a league-low and marked the second consecutive season that he had led the NFC in that category.
Walter joined the Patriots in 2001 after four excellent seasons with the Carolina Panthers. While playing for the Super Bowl Champion Patriots in 2001, Walter led the AFC and ranked second in the NFL with a net punting average of 38.1 yards. Walter boomed almost half of his punts, 24 of 49 (49.0%), inside the 20, the highest ratio in the NFL during the 2001 season. He did not punt into the end zone in the final eight weeks of the regular season (40 consecutive punts). He earned AFC Special Teams Player of the Week honors after averaging 42.2 yards on five punts, including two inside the 20, against the Dolphins (12/22/01).
