Ditech Secures Financing for RMS During Restructuring

Reverse Mortgage Solutions (RMS) will continue its operations during its bankruptcy proceedings due to financing secured by its parent company, Ditech Holding Corporation, according to a new 8-K filing by Ditech with the Securities and Exchange Commission (SEC). According to the filing, the bankruptcy court approved an order for Ditech’s debtor-in-possession (DIP) facilities, allowing Ditech […]

RMS Updates Reverse Mortgage Borrowers As Parent Company Restructures

Ditech Holding Corporation (NYSE: DHCP), parent company of Reverse Mortgage Solutions (RMS), announced today that it has filed filed for voluntary reorganization under Chapter 11 of the U.S. Bankruptcy Code. As a result of the process, some borrower payments may have been temporarily impacted, the company said in a notice to customers. Certain subsidiaries including […]

What Reverse Mortgage Firms Can Learn from Florida Case Judgment

A recent reverse mortgage court decision in Florida could have an impact on loans in other states. The court’s determination that a loan can be called due and payable at the maturity date rather than upon the death of the borrower has the potential to drive decisions in other states, an attorney tells RMD. It […]

Ditech Risks Default, Avoids Second Bankruptcy and Terminates COO

Ditech Holding Corporation (NYSE: DHCP), parent company of Reverse Mortgage Solutions (RMS), elected not to make an approximately $9 million cash interest payment to its creditors that was due on December 17, 2018. With Thursday marking the end of a 30-day grace period related to that payment, that decision has put the beleaguered corporation at […]