Ditech, a subsidiary of New Residential Investment Corp, has successfully completed a complex restructuring process. This move aims to simplify its operations and reduce costs.
The restructuring involved a significant reduction in Ditech's debt, with a total of $2.5 billion in liabilities being eliminated. This is a substantial step towards financial stability.
Ditech's restructuring process was likely a challenging and time-consuming endeavor, requiring careful planning and execution.
Acquisition News
New Residential Investment Corp, the parent company of Ditech, has made some significant moves in the residential mortgage market.
Ditech has announced its plans to exit the mortgage servicing business, which will affect approximately 1.7 million customers.
This decision is part of a broader strategy to focus on originating and investing in mortgage loans.
Ditech has been in the mortgage servicing business for over 30 years.
New Residential Investment Corp has been actively acquiring and investing in mortgage-related assets.
The company has a significant portfolio of mortgage servicing rights and other mortgage-related assets.
New Residential Investment Corp's focus on originating and investing in mortgage loans is a key part of its business strategy.
This strategy is designed to generate returns through the origination and sale of mortgage loans.
New Residential Investment Corp has a strong track record of originating and investing in mortgage loans.
The company's experience and expertise in this area will be a key factor in its future success.
Frequently Asked Questions
Is New Residential Investment Corp still in business?
Yes, New Residential Investment Corp is still in business, having acquired Caliber Home Loans and Genesis Capital LLC. The company is listed on the NYSE under the ticker symbol "RITM" since August 1, 2022.
Who took over New Residential Investment Corp?
New Residential Investment Corp. was taken over by Rithm Capital, a company led by Michael Nierenberg as board chairman, CEO, and president. Nick Santoro also remains in a key role as chief financial officer and chief accounting officer.
Who took over Ditech mortgage loans?
Ditech mortgage loans were acquired by New Residential Investment Corp. This acquisition includes Ditech's forward mortgage servicing and originations business.
What happened to Ditech Financial?
Ditech Financial was acquired by New Residential Investment Corp in 2019 after its parent company filed for bankruptcy. The acquisition transferred its mortgage servicing and originations business to New Residential.
Sources
- https://www.newrez.com/press-news/new-residential-investment-corp-completes-acquisition-of-select-assets-from-ditech-holding-corporation/
- https://www.newrez.com/press-news/court-approves-nrz-asset-acquisition-of-ditech/
- https://www.housingwire.com/articles/new-residential-investment-buys-ditech-financial-for-1-2-billion/
- https://www.epiqglobal.com/en-ca/resource-center/case-study/epiq-helps-ditech-with-complex-restructuring
- https://tracxn.com/d/companies/ditech-holding-corporation/__t0nPeGXoo5L5jzHdZfouDPbZYhA-jMoK3k1ZevmziV4
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