DiTech: The Pretense Continues

DiTech was not a lender. It was a sales agent or loan broker. Nonetheless a new agreement has been executed in which major creditors of DiTech are resurrecting the illusion that the current use of the DiTech name is sufficient to establish ownership of the debt, note or mortgage on any loan that was “originated” by DiTech. This is nothing less than a brazen attempt to attach orphan loans (no known creditor) to a newly conceived entity bearing little or no resemblance to the entity that once sold loans to the public  under the advertising banner of “lost another one to DiTech.” It’s a lie.

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see DiTech RSA

Courtesy of Philip Koebel, Esq. and Charles Cox, here is a list of the entities involved in the consolidated DiTech Bankruptcy, which was only kept alive because it representing a legacy name that could be used to reconstitute apparent ownership of loans. The creditors are basically reversing the transactions and writing off nearly $1 billion in “debt” and then miraculously allowing orphan loans to appear as though  DiTech was the lender the whole time. It never was the lender. It didn’t own loans at the time of the bankruptcy. It never owned the loans. But the current deal allows the emga banks to use DiTEch as a vehicle of illusion and deception.

Schedule 1
Debtor Case Number Tax ID Number Date Filed District
Green Tree Credit LLC 19-10411 (JLG) 75-3115864 February 11, 2019 S.D.N.Y
Ditech Holding Corporation 19-10412 (JLG) 13-3950486 February 11, 2019 S.D.N.Y
DF Insurance Agency LLC 19-10413 (JLG) 30-0936918 February 11, 2019 S.D.N.Y
Ditech Financial LLC 19-10414 (JLG) 41-1795868 February 11, 2019 S.D.N.Y
Green Tree Credit Solutions LLC 19-10415 (JLG) 27-1311565 February 11, 2019 S.D.N.Y
Green Tree Insurance Agency of Nevada, Inc. 19-10416 (JLG) 88-0187331 February 11, 2019 S.D.N.Y
Green Tree Investment Holdings III LLC 19-10417 (JLG) 20-0031008 February 11, 2019 S.D.N.Y
Green Tree Servicing Corp. 19-10418 (JLG) 20-0843552 February 11, 2019 S.D.N.Y
Marix Servicing LLC 19-10419 (JLG) 56-2646101 February 11, 2019 S.D.N.Y
Mortgage Asset Systems, LLC 19-10420 (JLG) 87-0798148 February 11, 2019 S.D.N.Y
REO Management Solutions, LLC 19-10421 (JLG) 27-2377787 February 11, 2019 S.D.N.Y
Reverse Mortgage Solutions, Inc. 19-10422 (JLG) 77-0672274 February 11, 2019 S..D.N.Y
Walter Management Holding Company LLC 19-10423 (JLG) 86-1059818 February 11, 2019 S.D.N.Y
Walter Reverse Acquisition LLC 19-10424 (JLG) 46-0928837 February 11, 2019 S.D.N.Y

 

2 Responses

  1. So i am not quite understanding… Ditech and all their subsidiaries are in BK… The loans they “allegedly” made and the loans they have servicing rights are not really theirs and this BK has merits to show this and there is nothing that can be done? The attorneys suing the foreclosure are they legal in their actions? Since they are representing the BK now?

  2. People need to GO TO JAIL.

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