Ditech Inc Company Profile and Timeline

Ditech Inc, a leading mortgage lender, has a rich history that dates back to 1985. It was founded by Robert W. Minahan, who had a vision to provide affordable mortgage options to homebuyers.

The company started as a mortgage broker and quickly grew to become one of the largest mortgage lenders in the country. Ditech Inc's early success can be attributed to its innovative approach to mortgage lending.

Ditech Inc was acquired by Ingersoll-Rand in 1997, marking a significant milestone in the company's history. This acquisition brought new resources and expertise to the table, allowing Ditech Inc to further expand its operations.

Today, Ditech Inc is a subsidiary of Ingersoll-Rand's Home Services division, and continues to provide mortgage lending services to thousands of customers across the country.

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ditech inc was founded in 1995 by John Paul Reddam, who started the company in Costa Mesa, California under the name DiTech Funding Corporation.

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The company's early success was fueled by an aggressive marketing campaign, including a memorable national television commercial featuring a frustrated loan officer.

DiTech became one of the first lenders to offer mortgages online and via a toll-free number, and its rapid growth extended its operating territory to 46 states by the end of 1996.

In 1999, DiTech was acquired by GMAC, which later changed its name to Ally Financial, and the company was renamed ditech.com.

Here are some key milestones in ditech inc's history:

DiTech became one of the first lenders to offer mortgages online and via a toll-free number. This innovative approach quickly extended DiTech's operating territory to seven states by the end of 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 loan officer who would mutter, "Lost another loan to DiTech", after losing business to the company. This campaign helped make DiTech a household name.

In 2000, John Paul Reddam left the company after it was acquired by GMAC.

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In 2005, DiTech was organized as a business unit of Residential Capital, LLC, which was owned by General Motors Corporation.

This move marked a significant shift in DiTech's operations, as it began to control mortgage-related subsidiaries under the umbrella of ResCap.

DiTech pioneered 125 percent loans, which allowed mortgage loan applicants to borrow more than properties were worth.

These loans were also low-documentation mortgages, or stated income loans, which made it easier for borrowers to qualify, but also created opportunities for falsified income claims.

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Ditech's parent company, DT Holdings, is a subsidiary of Walter Investment Management. This is a result of Walter Investment Management Co. acquiring Ditech from Ally Financial in March 2013.

The acquisition marked a significant change for Ditech, as it began originating loans under the name of Walter's Green Tree Servicing subsidiary due to regulatory and licensing reasons. This move was a temporary solution to navigate the mortgage crisis.

Ditech resumed originating loans under its own name in March 2014, effectively re-entering the U.S. housing market after a five-year absence.

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In March 2013, Ditech was acquired by Walter Investment Management Co. from Ally Financial, the former GMAC ResCap.

The acquisition was significant, as it marked a major change in ownership for Ditech. DT Holdings, Ditech's parent company, is a subsidiary of Walter Investment Management.

Ditech effectively "disappeared" from the marketplace for five years during the mortgage crisis. The company decided to bring the Ditech name back in 2014.

In March 2014, the company resumed originating loans using the Ditech name.

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New Residential Investment Corp. has completed the acquisition of a portfolio of mortgage servicing rights from a major bank. This acquisition is a significant step in the company's growth strategy.

The portfolio, valued at $3.2 billion, includes mortgage servicing rights for approximately 120,000 loans. This acquisition is expected to increase New Residential's servicing portfolio by 20%.

New Residential has a proven track record of successfully integrating acquired assets into its existing operations.

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Ditech offered a range of home loan and refinance options.

Their home loan options included fixed rate, adjustable rate, and FHA loans.

Ditech also provided refinancing options, which included fixed rate, adjustable rate, and FHA loans.

Special financing programs were available, such as HARP with expanded loan-to-value limits for qualified applicants.

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Ditech offered a range of home loan and refinance options.

They included fixed rate, adjustable rate, and FHA loans for home loans.

Refinancing options were also available, including fixed rate, adjustable rate, and FHA loans.

Special financing programs, such as HARP with expanded loan-to-value limits, were available for qualified applicants.

The company will no longer provide nonprime mortgages.

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Ditech Inc serves several industries, including the automotive industry.

Their services cater to various sectors, making them a versatile and reliable partner.

The automotive industry is just one of the many areas where Ditech Inc makes a significant impact.

Their expertise and innovative solutions have helped numerous businesses in this sector thrive.

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Ditech Inc's diverse range of services allows them to adapt to the unique needs of each industry they serve.

Their ability to do so has earned them a reputation as a trusted and efficient partner.

By serving multiple industries, Ditech Inc has expanded its reach and capabilities, making them a valuable asset to businesses across various sectors.

Ditech Inc. has a strong focus on partnerships and investments, particularly in the mortgage and refinance loan industry. In May 2014, Ditech launched a co-branding and joint-venture initiative with over 600 institutional partners.

These partners can offer mortgage and refinance loans to their customers directly through the Ditech website, with the ability to price, lock, and deliver individual loans. This initiative is a key part of Ditech's institutional partner strategy.

Ditech's correspondent lending division began focusing on services for community banks and credit unions in June 2014.

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In May 2014, Ditech launched a co-branding and joint-venture initiative with more than 600 institutional partners that provide mortgage and refinance loans to their customers.

This strategy encompasses direct consumer lending and correspondent lending, allowing institutional partners to price, lock, and deliver individual loans through the Ditech website.

In addition to the co-branding initiative, Ditech announced new correspondent banking products and services in May 2014, including MyCommunityMortgage, FHA Program, Expanded LMPI, and Freddie Only.

Ditech's correspondent lending division began focusing on services for community banks and credit unions in June 2014, offering them access to Ditech's technology, underwriting, processing, servicing, and marketing expertise.

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Ditech Inc., an auto parts manufacturer located at 1151 Walnut St. in Edinburgh, is investing $3 million to upgrade equipment at its plant.

The company plans to create 10 new jobs, which will add to its current workforce of 136 employees.

Ditech has been in Edinburgh since 1996, manufacturing tubular products and exhaust components for motor vehicles.

The investment includes the purchase of a Smart Cobot, welding equipment, and servo presses, which will arrive by the end of the year.

Company leaders will purchase the equipment on or around April 15.

The personal property tax abatement approved by the town council will benefit not just Ditech, but the Edinburgh community as a whole.

Ditech officials say the new jobs will pay around $500,000 in payroll annually.

The business is located in Bartholomew County, but taxes generated from Ditech are distributed throughout the town.

Edinburgh’s town council unanimously approved a 10-year personal property tax abatement for Ditech Inc.

The commercials were created by writer, producer, and director Ken Roberts from 1995 to 2007. A new marketing campaign was introduced in May 2007, adding the tagline "People Are Smart" and the signature line "Home financing by GMAC."

Ditech's advertising efforts had a significant impact, with the company achieving high unaided brand awareness and customer satisfaction. Many people, however, mistakenly thought Ditech was a subprime lender.

On a notable occasion, a Ditech commercial was airing on CNN when it was interrupted for an announcement about the September 11 attacks in 2001. This marked the beginning of CNN's live coverage of the event.

Ditech Inc has a long history of providing mortgage and financial services to its customers. The company was founded in 1998 and was later acquired by Household International.

Ditech Inc offers a range of mortgage products, including fixed-rate and adjustable-rate loans, as well as government-backed loans like FHA and VA loans. This variety helps customers find a mortgage that fits their financial situation.

Ditech filed for bankruptcy in February 2019, marking the second time in as many years.

This was a significant development in the company's financial situation.

In the same year, Ditech's forward mortgage servicing and originations business, Ditech Financial LLC, was acquired by New Residential Investment Corp.

The reverse mortgage business, Reverse Mortgage Solutions Inc., was also acquired, this time by Mortgage Assets Management LLC.

Ditech Mortgage is considering selling itself, just over four months after emerging from bankruptcy protection. This decision was made in response to inquiries received by the company's board of directors.

Ditech hired Houlihan Lokey as its financial advisor and Weil, Gotshal & Manges as its legal counsel to assist in the review of potential sale or merger alternatives. The review will also consider remaining as a standalone entity.

The review was initiated to assess how best to drive value for Ditech's stockholders, according to CEO Tom Marano. The company's board believes that now is the right time to review strategic alternatives.

Ditech's stock price had little impact from the announcement, although trading volume was higher than normal. The stock opened at $5.25 per share on June 28, up 17 cents from the previous day's close.

Ditech funded $2.76 billion in the first quarter, down from $5 billion one year prior.

The headquarters of Ditech Inc are located in 1151 Walnut Street, Edinburgh, Indiana 46124, United States.

Ditech Inc has a specific address for its headquarters, which is a fact worth noting if you're looking to contact them or visit their office.

The headquarters of Ditech Inc are located in Edinburgh, Indiana, a small city in the United States.

I've never been to Indiana, but I've heard it's a beautiful state with a lot to offer.

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