Walter Investment reaches restructuring deal
- BySeeking Alpha
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Ditech Holding Corporation operates as an independent servicer and originator of mortgage loans, and servicer of reverse mortgage loans. The company operates through three segments: Servicing, Originations, and Reverse Mortgage. The Servicing segment performs servicing for mortgage loan portfolio on behalf of third party credit owners of mortgage loans, as well as performs subservicing for third party owners. This segment also operates complementary businesses, including asset receivables management that performs collections of post charge-off deficiency balances for third parties. The Originations segment originates and purchases mortgage loans through consumer originations, and correspondents and wholesale lendings. The Reverse Mortgage segment primarily focuses on the servicing of reverse loans and subservicing on behalf of third party credit owners of reverse loans. This segment also provides complementary services for the reverse mortgage market, such as real estate owned property management and disposition. It serves government-sponsored entities, government agencies, third party securitization trusts, and other credit owners. Ditech Holding Corporation was formerly known as Walter Investment Management Corp. and changed its name to Ditech Holding Corporation in February 2018. The company was founded in 1958 and is based in Fort Washington, Pennsylvania.