Ditech's Reverse Mortgage Solutions Is Up For Auction
Ditech Holding Corporation is putting Reverse Mortgage Solutions up for auction as it looks to make its way back to financial solvency, according to a recent report from Reverse Mortgage Daily.
"According to a filing made in the bankruptcy court of the Southern District of New York on April 23, the court approved 'bidding procedures in connection with the sale or disposition of substantially all of [Ditech’s] assets, and granting other and related relief," reported RMD.
"While not specifically listed, sources close to the situation have confirmed to RMD that RMS is among the assets up for auction."
The deadline for bidding on Ditech's businesses have been extended to June 21.
"Although they experienced a jump in revenue after the delisting notice the company received in November, it did little to stem the tide of difficulties the company is facing," according to the report.
To learn more about Ditech's financial woes and the auction for Reverse Mortgage Solutions, click on the image above.