Ditech Enters Sale Process For Reverse Mortgage Solutions Stock And Assets
Ditech Holding Corporation has opened a court-supervised sale process for Reverse Mortgage Solutions' stocks and assets with Mortgage Assets Management, a company out of Washington, D.C. according to a recent report from Reverse Mortgage Daily.
"The forward mortgage servicing and origination business, Ditech Financial LLC, will be acquired by real estate investment firm New Residential," according to the report.
"In the sale arrangement, Mortgage Assets Management will serve as a 'stalking horse bidder' in the court-supervised sale process, which means that the agreements in this instance are subject to better or higher offers."
The company has continued to serve its customers throughout the process and has assured them that the status of their reverse mortgages remain unchanged.
"If other qualified bids for the assets up for auction are submitted, Ditech will conduct either one or multiple auctions with the New Residential and Mortgage Assets Management agreements setting the 'floor' for new auction processes," according to RMD.
To learn more about the sale process, click on the image above.
