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February 09, 2016 6:23 PM ET

Thrifts and Mortgage Finance

Company Overview of Ditech Financial LLC

Company Overview

Ditech Financial LLC, a mortgage company, lends and services residential mortgages. It offers a range of purchase loan options, including fixed rate, adjustable rate, jumbo, FHA, and VA loans. The company also partners with financial institutions nationwide providing capital market expertise. It offers residential mortgage products through a team of home loan specialists. Ditech Financial LLC was formerly known as Green Tree Servicing LLC and changed its name to Ditech Financial LLC in August 2015. The company was founded in 1975 and is based in Fort Washington, Pennsylvania with locations across the United States. Ditech Financial LLC operates as a subsidiary of Walter Investment Management...

1100 Virginia Drive

Suite 100A

Fort Washington, PA 19034

United States

Founded in 1975

Phone:

267-419-4770

Fax:

267-419-4298

Key Executives for Ditech Financial LLC

President of Green Tree
Executive Vice President
Executive Vice President
Executive Vice President and Director
Age: 66
Chief Information Officer
Compensation as of Fiscal Year 2015.

Ditech Financial LLC Key Developments

Ditech Financial LLC Appoints David Schneider as President

Walter Investment Management Corp. announced that David Schneider, EVP of Walter Investment and President, Servicing of Ditech Financial LLC, will be named President of Ditech with responsibility for leading both the Servicing and Originations businesses, effective immediately. Patricia Cook, EVP of Walter Investment and President, Originations of Ditech, will be leaving the Company.

Green Tree Servicing Agrees to Pay $63 Million Settlement over Loan Complaints

Green Tree Servicing LLC will pay $63 million to resolve charges that it hurt homeowners with illegal loan servicing and debt collection practices. The company failed to honor modifications for loans transferred from other servicers, demanded payments before providing loss mitigation options, delayed decisions on short sales, and harassed and threatened overdue borrowers. The company will pay $48 million to affected consumers and a $15 million civil penalty. The settlement resolves allegations arising from an investigation that began in 2010. Walter Investment previously disclosed it had accrued the full amount of the settlement during 2014. The settlement will be paid from available cash and won't alter Walter's 2015 business plan.

Green Tree Servicing LLC Resolves Previously Disclosed Federal Trade Commission and Consumer Financial Protection Bureau Investigation

Green Tree Servicing LLC issued the statement regarding its settlement with the Federal Trade Commission (FTC) and the Consumer Financial Protection Bureau (CFPB): Under terms of the stipulated order, which resolves allegations arising from an investigation that began in 2010, Green Tree has agreed, without admitting or denying any allegations, to injunctive relief, including the establishment of a data integrity program and a home preservation program, and will pay $48 million for consumer redress and a civil money penalty of $15 million. The settlement amount will be paid from available cash. The company developed its 2015 business plan taking the terms of the stipulated order into account, and the issuance of this order does not alter that business plan.

Similar Private Companies By Industry

Company Name Region
Fairfield Financial Services Inc. United States
Wall Street Mortgage Bankers, Ltd. United States
A3A Financial Group, Inc. United States
AmeriSphere Multifamily Finance, L.L.C. United States
Marin Mortgage Bankers Corporation United States

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
April 29, 2015
EverBank Financial Corp., Mortgage Servicing Rights on $5.7 Billion Unpaid Principal Balance
Merger/Acquisition
March 18, 2015
Ocwen Loan Servicing, LLC, Portfolio of Mortgage Servicing Rights
 

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