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Items Tagged with 'Walter Investment'

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Green Tree gone; Ditech merger complete

Walter Investment combines origination and servicing businesses
Green Tree Servicing is gone. Last month, HousingWire reported that Green Tree’s days were numbered, after Green Tree’s parent company, Walter Investment, announced quietly that it planned to merge Green Tree with another of Walter Investment’s well-known subsidiaries, Ditech Mortgage Corp, to form a new company, ditech, a Walter company. Now the merger is complete.
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Say goodbye to Green Tree; company merging with Ditech

Walter Investment merges companies to form Ditech Financial
Unbeknownst to most of the industry, Green Tree Servicing is in the last few weeks of its existence, but the company is not closing. Green Tree’s parent company, Walter Investment Management Corp., is merging Green Tree with another of Walter Investment’s well-known subsidiaries, Ditech Mortgage Corp.
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Walter Investment posts 1Q net income of $38.3M

Declining revenue of $310M misses analyst expectations
Walter Investment Management Corp. reported GAAP net loss for the first quarter of 2015 of ($31.0) million, or ($0.82) per diluted share, compared to net income of $17.4 million, or $0.45 per share for the first quarter of 2014. Adjusted earnings for the quarter were $38.3 million. Here’s where things went sideways.
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What’s the impact of Green Tree’s $63 million fine?

Moody’s weighs in on company’s future
Unsurprisingly, Green Tree Servicing could be facing several negative outcomes, including a potential downgrade to its servicer ratings, in the wake of its $63 million fine from the Consumer Financial Protection Bureau and the Federal Trade Commission. A new report by Moody's details what could be in Green Tree's future.
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CFPB and FTC fine Green Tree $63 million for “mistreating borrowers”

CFPB: Green Tree harassed and threatened overdue homeowners
The Consumer Financial Protection Bureau and the Federal Trade Commission are taking action against Green Tree Servicing for “mistreating borrowers” who were attempting to save their homes from foreclosure. According to the CFPB and the FTC, Green Tree 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. Here is Green Tree's response.
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Green Tree earns top marks in Fannie Mae mortgage servicer ratings

Awarded a superior five STAR designation
Green Tree Servicing announced Friday that it received a superior five STAR designation as part of Fannie Mae’s Servicer Total Achievement and Rewards program for 2014. Green Tree also said that 2014 is the third consecutive year the company has earned the top performer distinction within its STAR peer group.
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