Items Tagged with 'Green Tree'

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  • Ditech Financial fined $1.4 million for "abusive debt collection practices" in Massachusetts

    Accused of making "excessive" debt collection phone calls
    Ditech Financial will pay $1.4 million to the state of Massachusetts to settle charges that the company engaged in “abusive debt collection practices” by excessively calling borrowers to collect payment as well as not property notifying some borrowers of their mortgage information, the state’s attorney general announced recently.
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  • Ditech plots new path, launches wholesale lending channel

    Follows increase in correspondent lending operation
    When Ditech Financial relaunched in 2014, it laid out a three-pronged plan to establish itself back into the mortgage market, stating that it planned to launch direct consumer lending, retail lending and correspondent lending operations. The company has since merged with Green Tree Servicing and shuttered its retail division. Now, it's plotting a new way forward and launching a wholesale lending channel.
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  • Ditech shakes up management, combines leadership of originations and servicing

    David Schneider will oversee both; Patricia Cook departs
    When Walter Investment Management Corp. merged two of its well-known subsidiaries last year, Green Tree Servicing and Ditech Mortgage Corp, the company said that the mortgage servicing and originations businesses would be lead by David Schneider and Patricia Cook, respectively. But Monday, Walter Investment announced that Cook is leaving the company, effective immediately, and said that Schneider will be taking over both the servicing and originations operations.
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  • Walter Investment's Ditech buys part of Residential Credit Solutions

    RCS closing Ft. Worth facility, laying off 134 employees
    In another signal that the default mortgage business is shrinking, Walter Investment Management Corp. announced Friday that it acquired "certain assets" of Residential Credit Solutions. While a "number of core operational employees" are being transferred from RCS to Ditech, more than 130 of RCS’ employees will not be making the transition, and the company is laying off 134 employees at the end of February.
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  • BofA, Chase, Citi, Ditech, SunTrust, Wells Fargo pass servicing compliance tests

    National Mortgage Settlement Monitor: Servicers compliant with NMS rules
    Nearly all of the mortgage servicers that are subject to the terms of the National Mortgage Settlement achieved complete compliance with the NMS’s servicing rules in the first half of 2015, according to a new report from Joseph Smith, the Monitor of the National Mortgage Settlement.
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  • Walter Investment CEO stepping down

    Mark O’Brien announces retirement; Denmar Dixon named CEO
    Coming just one month after Walter Investment Management Corp. agreed to pay $29.63 million in fines to settle charges brought by the Department of Justice, the company announced Monday that Mark O’Brien, the company's chairman and CEO, is retiring this week.
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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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  • Walter Investment Management posts 2Q loss of $12.9M

    Servicing revenues up but originations see loss, company beats expectations
    Despite the loss in the quarter, Walter Investment Management is digging itself out of hole, and saw strong gains in servicing even as it saw a decline in originations. The company beat expectations on earnings per share. Want to know more?
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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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