Ditech Completes Sale of RMS to Mortgage Assets Management

After a protracted legal fight and a recently-approved bankruptcy plan cleared the way for a final sale, Ditech Holding Corporation has announced that it has completed the stock and assets sale comprising reverse mortgage servicing business Reverse Mortgage Solutions to buyer Mortgage Assets Management, LLC. In a press release announcing the completion of the transaction, […]

RMS Sale Approved by Bankruptcy Court

After a tumultuous road stemming from a bankruptcy declaration and attempt to sell its forward and reverse mortgage servicing businesses, Ditech Holding Corporation’s previously-announced stock and asset sale agreements have been approved in the United States Bankruptcy Court for the Southern District of New York, which has also confirmed the company’s third amended bankruptcy plan. […]

RMS Sale in Sight as Creditors Approve New Ditech Bankruptcy Plan

After a federal bankruptcy judge blocked a bankruptcy plan that would’ve allowed Ditech Holding Corporation’s forward and reverse mortgage servicing businesses to be sold free and clear of legal complaints against them, a Consumer Creditors’ Committee that acted as primary opposition to that plan has filed a statement in court approving a newly-amended plan that […]

Ditech Inches Closer to RMS Sale, Seeks New Bankruptcy Plan

After having a “free-and-clear” sale of both its forward and reverse mortgage servicing businesses rejected in bankruptcy court late last month, Ditech Holding Corporation has announced its intention to modify its bankruptcy plan to achieve a consensual resolution with its legal opponents. This means that Ditech will submit a new bankruptcy plan to the court […]

Ditech Denied ‘Free and Clear’ Sale of RMS in Bankruptcy Court

The ongoing sale process of Reverse Mortgage Solutions (RMS) may be at risk after a federal judge has denied its parent company’s proposed bankruptcy plan. In a hearing taking place at the Bankruptcy Court for the Southern District of New York on Wednesday, a federal judge denied the proposed bankruptcy reorganization plan petitioned by the […]

Ditech Objects to Borrower Damages as Bankruptcy Lingers

Pending a judge’s decision on whether the company will move forward with bankruptcy plans, Ditech is objecting to paying borrower damages in the interim.  Plaintiffs in the case against Ditech, which is currently trying to sell Reverse Mortgage Solutions (RMS) as part of a bankruptcy plan, are pushing for the company to pay damages to […]

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 […]

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 […]