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Ditech

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In February 2019, Ditech filed for bankruptcy for the second time in as many years. Later that year, the company's forward mortgage servicing and originations business Ditech Financial LLC was acquired by New Residential Investment Corp. and their reverse mortgage business, Reverse Mortgage Solutions
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In March 2014, the company resumed originating loans using the Ditech name. The brand had effectively “disappeared” from the marketplace for five years during the mortgage crisis, and the company decided to bring Ditech name back. In May 2014, Ditech announced its re-entry to the U.S. housing market.
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In March 2015, Ditech, along with Walter Investment affiliate Green Tree Servicing, announced the two would undergo a co-branding effort to become "Ditech Financial, A Walter Company," bringing Walter's origination and servicing entities together under one, recognizable brand name. The transition
298:. Reddam's business model quickly extended DiTech's operating territory to seven states by the end of the 1995, and 46 states by the end of 1996. DiTech's rapid growth was fueled in part by an aggressive marketing campaign that included a national television commercial featuring a frustrated 447:
initiative with more than 600 institutional partners that provide mortgage and refinance loans to their customers. The strategy encompasses direct consumer lending and correspondent lending. Institutional partners can price, lock and deliver individual loans through the Ditech website.
480:" written by writer, producer and director Ken Roberts, who created the Ditech television and radio commercials from 1995 to 2007. In May 2007, the company introduced a new marketing campaign, adding the tagline "People Are Smart" and including the signature line 451:
Also in May 2014, Ditech announced new correspondent banking products and services including MyCommunityMortgage, FHA Program, Expanded LMPI, and Freddie Only. In June 2014, Ditech's correspondent lending division began focusing on services for
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to further help distinguish the Ditech brand from direct-to-consumer lenders of questionable repute. Ditech had immensely high unaided brand awareness and customer satisfaction, but many people mistakenly thought Ditech was a subprime lender.
290:. The company's name was derived from the phrase “direct technology.” DiTech became one of the first lenders to offer mortgages to the public online and via a toll-free number. In April 1995, Reddam began originating, selling, and servicing 385:. Following the acquisition, Ditech used the name of Walter's Green Tree Servicing subsidiary to originate loans for regulatory and licensing reasons. DT Holdings, Ditech's parent company, is a subsidiary of Walter Investment Management. 1112: 336:
Ditech pioneered 125 percent loans that allowed mortgage loan applicants to borrow more than properties were worth. The loans were also low-documentation mortgages, or
2404: 1069: 347:'s reputation as a responsible lender and stressed the importance of making prudent decisions based on expert advice provided by ditech.com loan consultants. 849: 1047: 586: 1189: 2409: 515:. The company held sponsorships on Hendrick's part-time #44 car, as well as the #87 car on Busch Series level. DiTech also sponsored Kevin Harvick for 2316: 756: 2399: 265:
In May 2014, Ditech announced its re-entry to the national housing market after it “disappeared” from the marketplace for five years during the
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in the late 2000s. It also announced a corporate re-branding with its servicing affiliate, Green Tree Servicing, which took place in 2015.
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Ditech is well known for television commercials that aired during the 2000s. They featured a nefarious loan officer, played by actor
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Ditech held a sponsorship in the NASCAR Nextel Cup Series from 2004 to 2007, prominently appearing on the #25 Chevrolet driven by
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In 2012, during the mortgage crisis, Ally took its residential lending unit into bankruptcy in order to pay back the
333:(often referred to as "ResCap"), which controlled mortgage-related subsidiaries owned by General Motors Corporation. 199: 1025: 2333: 2197: 1656: 1548: 946: 2368: 2187: 2217: 2192: 1923: 1558: 138: 365:
following its acceptance of bailout funds. In November 2012, Ditech was formed from assets of the estate of
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with expanded loan-to-value limits for qualified applicants. The company will no longer provide
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Ditech offers a range of home loan and refinance options. Home loan options include
2069: 1979: 1790: 1774: 1635: 1628: 1475: 2257: 2236: 2143: 2009: 1430: 653: 646: 307: 2177: 1827: 1753: 1499: 1459: 1253: 469: 453: 378: 355: 318: 314: 303: 291: 283: 255: 220: 1190:"Ditech Finds Two Buyers For Its Mortgage Servicing and Originations Business" 976: 668: 321:. GMAC Mortgage renamed DiTech “ditech.com.” Reddam left the company in 2000. 2383: 2117: 1963: 1859: 1798: 1400: 898: 512: 501: 444: 343:
Powers introduced "People Are Smart," an advertising campaign that leveraged
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In March 2013, Ditech was acquired by Walter Investment Management Co. from
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On September 11, 2001, in the U.S., a Ditech commercial was airing on the
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from 2015 to 2016. Harvick would win at New Hampshire with DiTech on his
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In February 2010, GMAC relocated ditech.com offices from Costa Mesa to
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television channel when it was interrupted for an announcement that
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products to consumers and institutional partners in the U.S.
1164:"Mortgage Company Ditech Holding Files for Bankruptcy Again" 2101: 1217: 1003:"Here's exactly how ditech is coming back into the market" 489: 234: 922:"Say goodbye to Green Tree; company merging with Ditech" 877:"Deal Cut to Sell ResCap out of Bankruptcy Filed Today" 850:"GMAC Posts Profit, Will Change Name to Ally Financial" 2266:(1999–2012 under all of GM, Chevrolet only since 2012) 734:"ditech returning to the mortgage market in a big way" 532:
Inc., was acquired by Mortgage Assets Management LLC.
504:. This would begin CNN's ongoing live coverage of the 587:"Why Ditech Brought Back a Precrisis Mortgage Brand" 329:
In 2005, DiTech was organized as a business unit of
827:"GMAC moving Ditech operations to Fort Washington" 626:"Gale Directory of Company Histories: ditech.com" 434: 2405:Financial services companies established in 1995 2381: 372: 286:founded DiTech Funding Corporation (DiTech) in 340:, and many borrowers falsified their incomes. 1238: 580: 578: 576: 574: 572: 570: 1161: 1139:"ditech doubles down on NASCAR sponsorship" 1062: 996: 994: 913: 699:"GMAC Mortgage Will Acquire DiTech Funding" 663: 661: 584: 1245: 1231: 567: 547: 545: 313:In 1999, DiTech was acquired by GMAC (now 36: 2410:Companies based in Costa Mesa, California 1026:"The ditech key to correspondent lending" 692: 690: 991: 847: 731: 727: 725: 723: 721: 719: 658: 647:Ditech Mortgage Company – Ditech Lending 354:. In May 2010, GMAC changed its name to 1023: 748: 542: 14: 2400:American companies established in 1995 2382: 1187: 1181: 1162:Stech Ferek, Katy (11 February 2019). 824: 754: 696: 687: 620: 618: 616: 614: 612: 610: 608: 606: 604: 398:concluded in the second half of 2015. 2395:Mortgage lenders of the United States 1226: 1155: 716: 496:had struck one of Twin Towers of the 392: 2364: 1000: 919: 757:"A Little Pity, Please, for Lenders" 899:"Walter Investment Management Corp" 874: 601: 24: 2208:General Motors Research Laboratory 1252: 779: 369:during the bankruptcy proceeding. 25: 2421: 1484:Industries MĂ©caniques MaghrĂ©bines 1211: 585:Finkelstein, Brad (27 May 2014). 2363: 2354: 2353: 2334:Commercial Utility Cargo Vehicle 1443: 1136: 1070:"Ditech's 'Smart' New Direction" 782:"Ditech's 'Smart' New Direction" 310:as a result of the commercials. 1130: 1105: 1091: 1040: 1024:Swanson, Brena (26 June 2014). 1017: 965: 939: 891: 868: 841: 829:. Philadelphia Business Journal 818: 796: 675:from the original on 2021-12-21 439:In May 2014, Ditech launched a 848:Campbell, Dakin (3 May 2010). 773: 732:Garrison, Trey (14 May 2014). 640: 463: 435:Institutional partner strategy 13: 1: 1188:Biswas, Soma (19 June 2019). 1117:www.sportsbusinessjournal.com 535: 526: 373:Purchase by Walter Investment 139:Fort Washington, Pennsylvania 1076:. 2007-05-23. Archived from 755:Norris, Floyd (2008-05-09). 324: 277: 7: 920:Lane, Ben (5 August 2015). 804:"Ditech - People Are Smart" 478:Lost another loan to Ditech 406: 88:; 29 years ago 10: 2426: 2340:Concept of the Corporation 2297:Motors Liquidation Company 1783:Chevrolet-Saturn of Harlem 1048:"35th Annual Telly Awards" 401: 272: 225:Ditech Holding Corporation 27:Financial services company 2349: 2274: 2250: 2216: 2163: 1726: 1689: 1557: 1529: 1520: 1452: 1441: 1373: 1317: 1269: 1260: 1001:Lane, Ben (19 May 2014). 229: 219: 209: 192:Adjustable-rate mortgages 183: 159: 149: 133: 123: 108: 82: 64: 56: 44: 35: 975:. ditech. Archived from 949:. ditech. Archived from 589:. 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Mortgage News Daily 669:"Ditech loans (2004)" 652:May 27, 2007, at the 2312:Streetcar conspiracy 2044:Kettering University 1900:Ghandhara Industries 1884:Fleetwood Metal Body 1746:Allison Transmission 1350:GM Certified Service 1101:. 11 September 2010. 979:on 21 September 2014 953:on 21 September 2014 506:September 11 attacks 248:Ditech Financial LLC 188:Fixed rate mortgages 2188:GM Technical Center 2057:National City Lines 1374:Global subsidiaries 806:. Vimeo. 6 May 2012 697:Strickland, Daryl. 517:Stewart-Haas Racing 352:Fort Washington, PA 338:stated income loans 296:prime interest rate 211:Number of employees 32: 2203:Renaissance Center 2193:GM Proving Grounds 2126:Rochester Products 2018:Hughes Electronics 1924:GM Diesel Division 1050:. The Telly Awards 973:"Refinance A Home" 825:Blumenthal, Jeff. 761:The New York Times 498:World Trade Center 429:nonprime mortgages 393:Corporate Re-brand 77:Mortgage servicing 73:Financial services 30: 2377: 2376: 2267: 2226:William C. 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Index

Ditech.com

Trade name
Mortgage lending
Financial services
Mortgage servicing
Costa Mesa, California
U.S.
Bankruptcy
Fort Washington, Pennsylvania
President
Chief Operating Officer
Fixed rate mortgages
Adjustable-rate mortgages
FHA loans
HARP loans
VA loans
Parent
www.ditech.com
home loan
loan servicing
refinance
subprime mortgage crisis
John Paul Reddam
Costa Mesa, California
mortgage loans
prime interest rate
loan officer
Ron Michaelson
household name

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