Ditch Holding Corporation (NYSE: DHCP), parent company of Reverse Mortgage Solutions (RMS), announced Wednesday that it has initiated a process to evaluate strategic alternatives to enhance its shareholder value. The review process is being commenced following inquires from the company’s board of directors, and will be conducted with the assistance of financial and legal advisors. The alternatives being explored include the sale of the company, business combination or continuing as a standalone company, according to a press release.
The company emerged from bankruptcy under the name Ditech after filing as Walter Investment Management Corp. earlier this year. It continues to service reverse mortgages under the RMS brand but has since discontinued origination activity.
“Having completed our financial restructuring and as we focus on optimizing our business, our Board believes that now is the right time to review the Company’s strategic alternatives to assess how best to drive value for our stockholders,” said Tom Marano, chief executive officer, president and chairman of the board of Ditech Holding in the release. “We will undertake a comprehensive and thorough review with the assistance of our advisors. During this review, the entire Ditech Holding team will remain focused on advancing our mission of serving our customers throughout the homeownership journey and creating value for our stockholders.”
Written by Elizabeth Ecker
