Ditech and Green Tree Business Changes

In 2018, Ditech Holding Corporation acquired Green Tree Servicing LLC, expanding its mortgage servicing business.

Ditech Holding Corporation is now known as Ditech Financial LLC, but the company continues to operate under the Ditech brand.

The acquisition allowed Ditech to increase its mortgage servicing portfolio by approximately 1.7 million loans.

As a result of the acquisition, Green Tree Servicing LLC ceased to exist as a separate entity.

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Ditech Financial, LLC merged with Green Tree Servicing LLC in 2011, creating a new mortgage servicing company.

The merger allowed the combined company to provide a broader range of mortgage services to its customers.

Ditech Financial, LLC was a subsidiary of Walter Investment Management Corp at the time of the merger.

Green Tree Servicing LLC was a leading mortgage servicing company that specialized in servicing government-insured loans.

The merger created a new entity that would continue to operate under the Ditech brand.

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In March 2015, a significant change occurred with Ditech and Green Tree Servicing.

Ditech and Green Tree Servicing announced a co-branding effort to become "Ditech Financial, A Walter Company." This move brought Walter's origination and servicing entities together under one brand name.

The transition concluded in the second half of 2015, marking a new chapter for the companies involved.

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Ditech Financial, formerly known as Green Tree Servicing LLC, has had its share of regulatory problems and lawsuits, including paying $63 million in fines and restitution in April last year.

The company was accused of committing several violations, including failing to honor prior loan modifications, demanding payments before notifying borrowers of their options, and making false threats and repeated phone calls to borrowers who'd fallen behind.

Maura Healey, the Attorney General of Massachusetts, is calling for tighter state regulations over the debt collection industry following a series of debt collection lawsuits and settlements.

Ditech Financial agreed to pay the state $1.4 million to settle allegations it had violated Massachusetts debt collection laws by trying to collect on more than 5,000 delinquent mortgage accounts in Massachusetts since 2012 using unlawful tactics.

Healey described Ditech's practices as "abusive", citing the company's repeated calls to borrowers exceeded the two calls a week permitted by the state.

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Proposed state rules include prohibiting debt collectors from seeking civil arrest warrants, capping the collections of debt more than three years old, and placing further limits on the garnishment of wages.

The Consumer Financial Protection Bureau has also proposed rules that would require companies to limit phone calls to debtors, disclose the details of the debts, and make it easier for consumers to dispute the money owed.

Ditech's lending operations were significantly impacted by its merger with Green Tree.

The company's loan servicing portfolio expanded to over 3.5 million loans after the acquisition.

This growth led to a substantial increase in the number of customers served by Green Tree's loan servicing platform.

Ditech's loan origination volume increased by 25% in 2016, following the merger.

Green Tree's expertise in loan servicing helped streamline Ditech's operations and improve customer satisfaction.

The combined company's loan portfolio included a mix of government-backed loans, such as FHA and VA loans, as well as conventional loans.

Ditech's lending operations continued to grow, with the company originating over $20 billion in loans in 2017.

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