Hurdles Mount for Ditech’s Attempted RMS Sale

In the midst of ongoing attempts to sell its servicing platforms, Reverse Mortgage Solutions’ parent company is facing new legal hurdles. At a hearing taking place in the U.S. Bankruptcy Court for the Southern District of New York on Wednesday – where there was reportedly standing room only – counsel for Ditech and the sale’s […]

Ditech Sale Timing Uncertain Pending RMS Woes

On the heels of issues related to Ditech Holding Corporation’s planned sale of Reverse Mortgage Solutions (RMS), real estate investment company New Residential Investment Firm says that legal concerns affecting Ditech could impact the deal closing. New Residential (NYSE: NRZ) disclosed Q2 2019 earnings on Tuesday, adding a note of caution concerning its plans to […]

New York Attorney General Files Suit Against Ditech, Investigates RMS

Following recent resistance from Bank of America on a deal to sell Reverse Mortgage Solutions, RMS parent company Ditech Holding Corp. is now being sued by New York’s Attorney General in an effort to stop the sale. Her office calls the proposed sale an “attempted end-run around statutory protections for homeowners,” which includes reverse mortgage […]

Back on Reverse Mortgage Landscape, Bank of America Objects to RMS Sale

Long after leaving the reverse mortgage business, Bank of America is back on the landscape — now with an objection to Reverse Mortgage Solutions’ sale proceedings. The company, which once originated as many as 9,000 reverse mortgage loans per year, has filed an official objection in the Bankruptcy Court for the Southern District of New […]

Ditech Names Successful Bidder for RMS

After engaging in a court-supervised sale process for the stock and assets of Reverse Mortgage Solutions (RMS), parent company Ditech Holding Corporation has notified the presiding bankruptcy court that the bidders for both RMS and Ditech’s forward mortgage business have been successful, according to a report at Bankrupt Company News. This has resulted in the […]

Ditech Finds ‘Stalking Horse Bidder’ for Reverse Mortgage Solutions

Ditech Holding Corporation announced Tuesday that it has engaged in a court-supervised sale process for the stock and assets of Reverse Mortgage Solutions, Inc. (RMS) with Washington, D.C.-based Mortgage Assets Management, LLC, a company that oversees portfolios of mortgage servicing rights. The forward mortgage servicing and origination business, Ditech Financial LLC, will be acquired by […]

Ditech Puts Reverse Mortgage Solutions Up for Auction

Reverse Mortgage Solutions (RMS), the reverse mortgage servicing business owned by Ditech Holding Corporation, has been put up for auction by its parent company, RMD has learned. The auction comes as Ditech attempts to find its way back to financial solvency after a second bankruptcy filing earlier this year. According to a filing made in […]

RMS Parent Company Ditech Deregistered from NYSE

Ditech Holding Corporation, parent company of Reverse Mortgage Solutions (RMS), has officially been deregistered from the New York Stock Exchange according to an 8-K filing the company made with the Securities and Exchange Commission (SEC) Wednesday. “On May 15, 2019, Ditech Holding Corporation filed a Form 15 with the Securities and Exchange Commission to deregister […]

Ditech: RMS Losses Will Continue

Ditech Holding Corporation, parent company of Reverse Mortgage Solutions (RMS), announced its fourth quarter and full year 2018 financial results in a form 10-K filing released Tuesday, which details an expectation that their unprofitable reverse mortgage arm will remain so while also saying that the company cannot guarantee that it will successfully emerge from Chapter […]

WSJ: Ditech Bankruptcy Loophole Could Cause Adverse Effect for Some Homeowners

Compounding a series of financial problems the companies are facing, Reverse Mortgage Solutions (RMS) and its parent company Ditech Holding Corporation are experiencing new scrutiny from consumer advocates and the United States Department of Justice (DOJ) due to the company’s latest chapter 11 bankruptcy filing, according to an article at the Wall Street Journal. Some […]