CFPB Debt Collection Complaint Ranking*:
#31 of 2,458 Companies
Lawsuits, Penalties, or Sanctions:
Location and Contact Details:
Ditech Financial, LLC
1100 Virginia Drive, Suite 100A
Fort Washington, PA 19034
Phone: (267) 419-4770
Fax: (267) 419-4298
Keith Anderson, President, Green Tree Servicing
David C Schneider, President of Servicing and Origination
Business Model:
Ditech Financial LLC, is a mortgage lending and servicing company, founded in 1995 by Canadian J. Paul Reddam. (It was also referred to as Ditech Funding Corp.) It is privately held and was one of the first lenders to offer mortgages online. Ditech was infamous for its television commercials and the catch phrase “Lost another loan to Ditech.”
Reddam sold Ditech to GMAC in 2000 and the name changed to Ally Financial, Inc. Ally took federal bail-out funds during the 2012 financial crisis and in order to repay those funds, took its mortgage unit into bankruptcy. Today’s Ditech Financial (also referred to as Ditech Mortgage Loans) was formed from remaining assets following Ally’s bankruptcy proceeding. Then in 2013, Ditech became a subsidiary of the Walter Investment Management Company and was known as Ditech Mortgage Corp.
In 2015, Green Tree Servicing (another Walter subsidiary) merged with Ditech Mortgage and became Ditech Financial, LLC and operates as ditech. “No comment” from Ditech/Green Tree after layoffs in Birmingham.
* Ranking determined by the overall number of debt collection complaints to the Consumer Financial Protection Bureau (CFPB) as of year-end 2015 and should be considered in context of company size and/or market share. See the CFPB debt collection complaint database in real-time here.
