Upon investigation of your dispute, Shellpoint has been unable to determine that an error occurred. Upon filing the Form 15, Ditech Holding's obligations to file certain reports and forms with the SEC, including Forms 10-K, 10-Q and 8-K, were immediately suspended. In addition, your pets are welcome in Shadow Lake Village. Additionally, on July 10, 2019, the Debtors filed the Notice of Cancellation of Auction, Sale and Confirmation Objection Deadline, and Successful Bidders . Since natural gas is not in the community, all homes in Shadow Lake Village are heated by electric. We do not have any legal affiliation with New Residential Investment or Ditech Financial. You are actively preparing for retirement. From its offices in Greenville, SC and Houston, TX, SMS serves a wide range of clients nationwide, including leading banks, loan originators, and private equity firms. What is a mortgage loan modification & how does it work? Closes on acquisition from struggling nonbank. he bankruptcy judge is in the best position to assess the good faith of the parties proposals. Jasik v. Conrad , 727 F.2d 1379, 1383 . Just one day after sellingReverse Mortgage Solutions to Mortgage Assets Management, the nonbank formerly known as Walter Investment Management sold off its forward mortgage business Ditech Financial to New Residential Investment for $1.2 billion. (Fischer, Cynthia) (Entered: 07/19/2021), Docket(#7) Corporate Disclosure Statement by Defendants U.S. Bank N.A., U.S. Bank National Association, U.S. Bancorp identifying Corporate Parent U.S. Bancorp, Corporate Parent U.S. Bank National Association for U.S. Bank N.A (Fischer, Cynthia) (Entered: 07/19/2021), Docket(#6) Corporate Disclosure Statement by Defendants Ditech Financial LLC, Ditech Financial LLC, Walter Management Holding Company LLC, Green Tree Servicing Corporation, Green Tree Credit Solutions LLC, Walter Investment Management Corp. identifying Corporate Parent Walter Investment Management Corp., Corporate Parent Ditech Financial LLC, Corporate Parent Green Tree Servicing Corporation, Corporate Parent Green Tree Credit Solutions LLC, Corporate Parent Walter Management Holding Company LLC for Ditech Financial LLC.. (Fischer, Cynthia) (Entered: 07/19/2021), Docket(#5) Corporate Disclosure Statement by Defendants Shellpoint Mortgage Servicing, Shellpoint Partners LLC, NRM Acquisition LLC, NRM Acquisition II LLC, New Residential Mortgage LLC, New Residential Investment Corp., a Delaware corporation identifying Corporate Parent Shellpoint Partners LLC, Corporate Parent NRM Acquisition LLC, Corporate Parent NRM Acquisition II LLC, Corporate Parent New Residential Investment Corp., a Delaware corporation, Corporate Parent New Residential Mortgage LLC for Shellpoint Mortgage Servicing.. (Fischer, Cynthia) (Entered: 07/19/2021), Docket(#4) NOTICE of Appearance by Cynthia Margot Fischer and Nathan H. Blaske for Defendants Ditech Financial LLC, Shellpoint Mortgage Servicing, U.S. Bank N.A. Sign up for a free account. New Residential is managed by an affiliate of Fortress Investment Group LLC, a global investment management firm. The company is the parent company of several subsidiaries, including mortgage lender NewRez, Shellpoint Mortgage Servicing, title and settlement services providerAvenue 365, andeStreet, an appraisal management company. Recommended Reading: What Is The Monthly Payment On A 75000 Mortgage, Section 1129 is one of the cornerstones of chapter 11 practice. 7 COLLIER ON BANKRUPTCY 1129.02 1129-33 . Please note, any adjustments due to increase or decrease with your escrowed items may affect your monthly escrow payment. Waiver sent to Ditech Financial LLC on 6/17/2021, answer due 8/16/2021. Waiver sent to Ditech Financial LLC on 6/17/2021, answer due 8/16/2021. Please be assured, Shellpoint wants to work with you to determine acceptable payment arrangements that work for all parties. UniCourt uses cookies to improve your online experience, for more information please see our Privacy Policy. 3/2/2023. The amount included the late charge balance of $22.58 and a property inspection fee of $20.00. As part of the deal, New Residential will also take overcertain Ditech offices and add approximately 1,100 Ditech employees into thefold to support the increase in volume to its existing origination andservicing operations. In addition, the new mortgage owner is required to provide you with its contact information within 30 days after the transfer. I would Plaintiff Dale Ross filed the class action lawsuit against mortgage loan financing company Newrez LLC doing business as Shellpoint Mortgage Servicing in a Pennsylvania federal court Monday, alleging violations of the Electronic Funds Transfer Act. When there are fewer days between payments, less interest is owed and more of the payment is applied to principal. How many deaths are caused by flu each year? Waiver sent to U.S. Bank N.A. (Fischer, Cynthia) (Entered: 07/19/2021), (#9) WAIVER OF SERVICE Returned Executed. The company is the parent company of several subsidiaries, including mortgage lender NewRez, Shellpoint Mortgage Servicing, title and settlement services provider Avenue 365, and eStreet, an. ditech trying to figure out this version of ditech? Darin said they had no paperwork about taxes or anything but can predict what what my payments are which is higher than original payment. The sell-off of Ditech Holdings two main subsidiaries is now complete. Whether or not you should actually be foreclosed on by Shellpoint Mortgage Servicing, you may have options. Communications and payments for your loan should be sent to the new servicing company. Write reviews, ask and respond to questions, Lexa TutelaInvestor RelationsPhone: 813-421-7694E-mail: investorrelations@ditech.com, Michael Freitag / Aaron Palash / Andrew SquireJoele Frank, Wilkinson Brimmer Katcher212-355-4449, View original content:http://www.prnewswire.com/news-releases/ditech-holding-corporation-signs-purchase-agreements-with-new-residential-investment-corp-and-mortgage-assets-management-llc-300870229.html, Plus500. Seeid. flexmls.com offers an MLS system and MLS software for the multiple listing service and real estate professionals. Waiver sent to Shellpoint Mortgage Servicing on 6/17/2021, answer due 8/16/2021. Devote all your extra windfalls to your mortgage. MTGLQ aka Shellpoint aka New Penn Financial,. See id. 1.36, 1.37, 4.6. They are a publicly-traded company worth billions of dollars that has quickly become a top-20 mortgage lender nationwide. get quotes and more. (Fischer, Cynthia) Modified to include co-counsel on 7/20/2021 (kl). When youre ready to either buy or sell a home here, call the adult community experts, Bunny and Art Reiman Realtors. New Residential to combine NewRez and Caliber platforms into premier financial services company. Sign in to manage your account, make a payment, and view details on your loan. Type in the email address you registered with. Shellpoint as the loan servicer is required to disburse payment once notice is received, unless indicated otherwise in writing. Shellpoint is not able to overfund the escrow account, we are however, allowed to collect a cushion of one-sixth of the total escrow amount, or two times the base monthly escrow payment of $204.83. Important assumptions and other important factors that could cause actual results to differ materially from those forward-looking statements include, but are not limited to, those factors, risks and uncertainties described in more detail under the heading "Risk Factors" and elsewhere in Ditech Holding's annual and quarterly reports, including amendments thereto, and other filings with the SEC. Waiver of Service due by 7/19/2021. If needed, a second warning notice is sent out 30 days later, advising the. 793, 796 ). The Shellpoint Mortgage Servicing management team includes Jason Yates (Senior Vice President), Debbie Thayer (EVP, Default Administration) , and Kyle Ross (Vice . 572, 574 . The owner of your mortgage loan is the bank or mortgage company that originally gave you the mortgage loan that allowed you to purchase your property. (Snyder, Karl) (Entered: 06/17/2021), Docket(#1) COMPLAINT with JURY DEMAND against Ditech Financial LLC, Shellpoint Mortgage Servicing, U.S. Bank N.A. New Residential Investment has agreed to purchase the stock and assets of Ditech's forward mortgage originations and servicing business, while Mortgage Assets Management will . If we can verify it in our system, an email will be sent to you with your password. The representative explained a loan modification would not drop the installment amount significantly. Any interest shortfalls due to length of time between payments are satisfied prior to applying any portion to principal. Additionally, youll have use of the common areas and clubhouse. Our agent encouraged you to seek refinance options to lower the loans monthly payment and explained the escrow could be a factor to lower the monthly payment. Id. 61. [3] [7] Ditech pioneered 125 percent loans that allowed mortgage loan applicants to borrow more than properties were worth. Also Check: What Does Credit Approved Mean For A Mortgage. The total price tag for the acquisition is $1.2 billion, The CHLA wants additional loan originator compensation flexibility in a few specific areas, according to a letter submitted to the CFPB. By the end of August, Green Tree will be no more. We use cookies. As an example of how the interest is calculated, for the September 21, 2022 installment multiplied 7.875 by the unpaid principal balance of $31,544.49 then dividing by 365, which equaled $6.81 as the per diem. If you have received a Notice of Intent to Foreclose or other notices from Shellpoint Mortgage Servicing, they may or may not own your mortgage loan. Complaint Resolution Index (CRI) Explained. 18 complaints against Shellpoint Mortgage Servicing. on 6/17/2021, answer due 8/16/2021. The sell-off of Ditech Holdings two main subsidiaries is now complete. Although the Company succeeded in deleveraging its capital structure through the WIMC Chapter 11 Case, the Debtors continued to face liquidity and performance challenges that were more persistent and widespread than they had anticipated. Also Check: Is Quicken Loans A Mortgage Broker. But when you. According to New Residential, those assets included Ditechs Based in Fort Washington, Pennsylvania, Ditech services a diverse loan portfolio. Beyond that, the lender has every right to sell your loan and you cant do anything stop it, said Tammi Lindley, senior loan officer for the Tammi Lindley Team, a mortgage lender. We know the team at New Residential well and have (ba) (Entered: 06/21/2021), Docket(#2) REQUEST FOR WAIVER of Service sent to All Defendants on 06/17/2021 by Plaintiffs Abraham L Washington, Mildred Washington. Also Check: How Much Can I Mortgage My House For. of approximately $62 billion as of Aug. 31, 2019. 2022-09-02, Tarrant County Justice Courts | Contract | Shellpoint Mortgage Servicinghttps://www.shellpointmtg.comhttps://www.shellpointmtg.com Who is NewRez mortgage? Although the Debtors received eleven proposals to acquire select assets and operations of their businesses, the preliminary estimates on those offers indicated values inferior to that of the Forward and Reverse Buyers respective offers. See Rule 1007 Decl. on 6/17/2021, answer due 8/16/2021. All of the homes are attached, as a result, the homes are condo ownership. You can submit your email from there and upload any supporting documents. Feb 16, 2022 Shellpoint Mortgage Servicing handled the most volume of loans in non-agency mortgage-backed securities in 2020, according to a new ranking and analysis by Inside Nonconforming Markets. Shellpoint Mortgage Servicing was the top servicer of loans in non-agency mortgage-backed securities issued during the second quarter of 2020, according to a new ranking and analysis by Inside Nonconforming Markets. However, one or more complaints are unresolved meaning the company failed to properly address the complaint allegations or their response was inadequate. We are excited to execute on our plan and see tremendous potential for creating value across our business.. The acquisition is just the latest in a long string of such deals for New Residential, which is managed by an affiliate of Fortress Investment Group, the global investment giant that was acquired nearly two years ago by Japans Softbank Group for $3.3 billion. Following a recent announcement by Fannie Mae to accept mortgages with downpayments as low as three percent, Ditech Mortgage Corp today announced its readiness to originate loans with a maximum loan-to-value ratio of 97 percent. Make sure you have an experienced foreclosure defense attorney by your side that will navigate you through the process and give you a fair chance at obtaining a reasonable outcome. As of the date of this communication, the loan is current with the next installment of $686.15 due on October 23, 2022. In the area are shopping malls, theaters, beaches, libraries, museums, and much more. Waiver sent to U.S. Bank N.A. New Residential Investment completes its acquisition of select assets from Ditech Holding and Ditech Financial at a purchase price of $1.2B. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors, and our actual results, performance or achievements could differ materially from future results, performance or achievements expressed in these forward-looking statements. I'M NEW; ABOUT SHELLPOINT; HELPS TIPS; 800-365-7107; REGISTER; SIGN AT; . like to thank our employees for their hard work and dedication to serving our Westwood, NJ 07675. If you continue to use the site, we will assume that this suits you. Cancellation and Refund Policy, Privacy Policy, and 5 Is it better to have savings or pay off mortgage? Ditech Holding Corporation and Ditech Financial.. For more information about Ditech Holding, please visit the Company's website at www.ditechholding.com. Any cash transaction above $10,000 is considered suspicious. Who is the new host of Dancing with the Stars? Waiver of Service due by 7/19/2021. Four training sessions are being conducted throughout the month of March via webinars that explain the nuances of the HomeReady product. During 2022, 62 adult community homes were sold in Shadow Lake Village. Ending months of speculation about how the company will survive amidst multiple bankruptcies, Ditech Holding is selling its forward and reverse mortgage businesses, the company announced Tuesday, 16th June, 2019. If you do not agree with these terms, then do not use our website and/or services. Shellpoint Mortgage Servicing Information. NewRez is licensed in all 50 U.S. states and the District of Columbia. & wasnt't sent any paperwork according to Daron who I talked to on 2/23/23. Shellpoint Mortgage Servicing was the top servicer of loans in non-agency mortgage-backed securities issued during the second quarter of 2020, according to a new ranking and analysis by Inside Nonconforming Markets. No credit card required. Help me lower these payments. ( Filing fee $ 402 paid - receipt number: AOHSDC-8366550), filed by Abraham L Washington, Mildred Washington. Please be aware that a loss mitigation application may need to be completed. Shellpoint Mortgage Servicing 2100 E. Elliot Road, Suite A Tempe, AZ 85284 Branch Office NMLS ID#1879565 Shellpoint Mortgage Servicing 7785 Baymeadows Way, Suite 200 2nd floor Jacksonville, FL 32256 Brand Office NMLS ID#1891741 Licensed Mortgage Banker-NYS Department of Financial Services. It was founded in 2008 under the name New Penn Financial, and rebranded in early 2019. Amount in Dispute: $0.00 Inside the clubhouse, the multi-purpose room is available for many activities in addition to a cozy library, exercise facilities and more. Bunny@BunnyandArt.com, Arthur (Art) Reiman at 1. In that notice, the Debtors acknowledge that the Bidding Procedures, which are authorized by Section 363, govern the auction and sale process of any and all of the Debtors assets to the highest or otherwise best bidder. Id. The sell-off of Ditech Holdings two main subsidiaries is now complete. The company now servicing your loan and the address to which you should send payments have changed. Accordingly, the agreements are each subject to higher or otherwise better offers, among other conditions. Additionally, you have made additional principal payments and can not determine how payments were applied. Get contact details including emails and phone numbers New Residential primarily targets investments in mortgage servicing related assets and other related opportunistic investments. Up to 5 But also, some are attached ranch style homes which do not have a home above on the second floor. SeeIn re Koelbl , 751 F.2d 137, 139 In re Weathersfield Farms, Inc. , 14 B.R. Washington et al v. Shellpoint Mortgage Servicing et al Case Summary On 06/17/2021 Washington filed an Other lawsuit against Shellpoint Mortgage Servicing. Once logged in, click the Mortgage Assistance tab and choose Homeowner Assistance Solutions. Copyright 2021 Denbeaux & Denbeaux, All Rights Reserved. The underwriting has been a nightmare because we were approved 3 months ago on the original loan for more than 2x the refi loan was supposed to be with Ditech. Extra service possibilities for homeowners make Shellpoint the right choice forward your servicing needs. About Shadow Lake Village. You May Like: Why Do Banks Sell Mortgages To Freddie Mac. 5:20-CV-00464 | 2020-11-18, U.S. District Courts | Finance | 2023-04-18, Seminole County Courts | Property | Looking for a particular Shellpoint Mortgage Servicing employee's phone or email? Therefore, you are requesting an explanation to why interest paid can increase even though the principal has reduced. Re: Advice on paying off the house You will not only set off IRS flags, but youll set of flags with the Department of Homeland Security, the DEA (who will assume youre a pack of drug dealers), and the federal Financial Crimes Enforcement Network (FinCEN). Mr. Marano continued, "I would like to thank all of our employees for their continued hard work and dedication. He is mainly involved in weightlifting. NEW YORK- New Residential Investment Corp. , a leading provider of capital and services to the mortgage and financial services industries, announced today that it has completed its acquisition of select assets from Ditech Holding Corporation and Ditech Financial LLC . Who was the rocket scientist who thought it would be okay to have second floor homes in an over 55 community? See Consumer Creditors Committee Objection 1. Call 732-598-7700 Today to see the homes for sale. When a loan gets sold, the lender has basically sold servicing rights to the loan, which clears up credit lines and enables the lender to lend money to the other borrowers. CRI measures the company's customer satisfaction abilities through BCAs complaint mediation process. The estimated purchase prices under the Forward Buyers offer and Reverse Buyers offer, based upon values reflected in the Debtors March 31, 2019 balance sheet, are approximately $1,055,000,000 and $762,000,000 , respectively. If the Company were in any particular instance to update or correct a forward-looking statement, investors and others should not conclude that the Company would make additional updates or corrections thereafter. In the area are shopping malls, theaters, beaches, libraries, museums, and much more. (Entered: 07/19/2021), DocketIf this case is referred, it will be to Magistrate Judge Karen L. Litkovitz. But also, some are attached ranch style homes which do not have a home above on the second floor. Art@BunnyandArt.com, can be either upper or lower level homes. Ditech Announces Readiness To Originate 97% Ltv Home Loans Following The Lead Of Fannie Mae FORT WASHINGTON, PA December 17, 2014 CEO of Ditech Holding. (Fischer, Cynthia) (Entered: 07/19/2021), Docket(#9) WAIVER OF SERVICE Returned Executed. Judge Michael R. Barrett no longer assigned to case. During the past 6 months, the average sale price was $363540. free lookups / month. Seeid. For instance, the Ditech acquisition has doubled SMS' servicing . Are you a homeowner going through foreclosure and ready to fight back against Shellpoint Mortgage Servicing? The agreements are also subject to, among other things, Bankruptcy Court approval and certain other conditions. A mortgage servicing company, also known as the mortgage servicer, is the company that handles your mortgage loan and often gets confused with the owner of the loan. They say that the Court should approve the settlement because it was negotiated in good faith and at arms length and is an essential element of the Second Amended Plan. 19, 20. Theyve been busy! In addition, some are townhouses with living areas on the ground floor and the bedrooms on the second floor. ABOUT DITECH Ditech is an independent servicer and originator of mortgage loans and servicer of reverse mortgage loans. If qualified bids are submitted, an auction or auctions would be scheduled to be held beginning at 10:00 a.m. (ET) on July 11, 2019. June 18, 2019. Shadow Lake Village is an active adult 55+ community in Middletown, NJ. 2 talking about this. ABOUT DITECH Ditech is an independent servicer and originator of mortgage loans and servicer of reverse mortgage loans. For more information about Ditech, please visit Ditech website at www.ditechholding.com. How do you transition from QC defense to offense? Pursuant to the requirements of the Order, The estate is no longer able to further process the return of any unclaimed borrower funds. Paul, Weiss, Rifkind, Wharton & Garrison LLP is acting as legal counsel and Barclays Capital Inc. is acting as financial advisor to Mortgage Assets in connection with the agreement. By contrast, a plan that, for instance, is proposed for ulterior motives not aligned with the Bankruptcy Code, will fail to satisfy section 1129. Lenders can make money by charging fees when the loan originates, earning interest from your monthly payments, and selling it for commission. In review of your payment history, we have received two payments where you requested additional funds to be applied towards principal on May 21, 2021 and September 21, 2022. Deciding what step you should take next can be hard, thats why Denbeaux & Denbeaux Law wants to make it easier for you. Case reassigned to Judge Douglas R. Cole for all further proceedings. The proposed agreements are subject to higher or otherwise better offers. Mortgage lenders NewRez and Shellpoint Mortgage servicing, title services providers Avenue 365 and eStreet, and appraisal management company eStreet all belong to the company. At the center of Shadow Lake Village is the clubhouse which is located on picturesque Shadow Lake. Lorem ipsum dolor sit amet consectetur adipisicing elit. Our agent explained you may seek payment assistance through your states Homeowners Assistance Funds program. If you want to contact New Residential Investment, please for contact information. If youve been sued for a debt contact us for a free case evaluation and to talk to our debt defense attorney, Josh Denbeaux. The company began originating low downpayment loans via its consumer channel on December 15 and via its correspondent channel beginning on December 22. We are excited to execute on our plan and see tremendous potential for creating value across our business. Widow on disability Per Section 3 of the Fixed Rate Consumer Note and Security Agreement, this account utilizes simple interest. New Residential is financing the acquisition with financing facilities and cash on hand. The enclosed payment history reflects when and how payments were applied to principal and interest. These forward-looking statements speak only as of the date such statements were made or any earlier date indicated, and the Company does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events, changes in underlying assumptions or otherwise. Simple interest accrues on the outstanding principal balance on a per diem (daily) basis. Cc: Business Consumer Alliance, Login to participate on the website. 1:20-CV-01612 | 2020-06-11. these are older homes which are attached to other homes. On August 31, 2015, Green Tree Servicing became ditech, a Walter company. Already have an account? Amount of interest will increase some months even though principal is reduced. In fact, Green Trees parent company, Walter Investment Management Corp. , is merging Green Tree with another of Walter Investments well-known subsidiaries, Ditech Mortgage Corp, to form a new company, ditech, a Walter company. When Dwight Eisenhower gave the Atoms for Peace speech what constructive use of nuclear energy was he introducing? If other qualified bids are submitted, the Company will conduct an auction or auctions with the agreements with New Residential and Mortgage Assets setting the floor for the auction processes. Note: HousingWire is a business news company that covers the real estate and mortgage industries. Sign up for free now, Sign up for free to participate on the website. We explore everyones unique situation and help you decide the best course of action.Dont give up without a fight! 2023-04-19, U.S. District Courts | Finance | The Ditech acquisition represents an aggregate unpaid principal balance of $62 billion, as of Aug. 31, 2019, consisting of approximately 620,000 loans. At Denbeaux & Denbeaux Law, we cover many foreclosure practice areas including foreclosure mediation, forbearance, loan modifications, and loss mitigation. at the Middletown station or nearby in Red Bank. Its important to know who your mortgage servicing company is from the beginning so you know who to reach out to for important information regarding your foreclosure and loan modification options. Not lowered but raised. Certain of these forward-looking statements can be identified by the use of words such as "believes," "anticipates," "expects," "intends," "plans," "projects," "estimates," "assumes," "may," "should," "could," "shall," "will," "seeks," "targets," "future," or other similar expressions. The payment amount should not just change, either. Mortgage servicers like Shellpoint Mortgage Servicing must comply with federal laws regulating the foreclosure process in New Jersey that prevent servicers from certain inappropriate practices that violate homeowner rights. Waiver sent to Shellpoint Mortgage Servicing on 6/17/2021, answer due 8/16/2021. If youve finally paid off your mortgage debt, keep that trend going by applying your monthly mortgage payment to other debts. See Second Amended Plan 4.6. Shellpoint is required to send a notice out no less than 45 days prior to us purchasing insurance for a property. receivables relating to those MSRs and other assets core to the forward the reverse mortgage company. Please know, a shortage occurs when the anticipated balance is less than the required balance. Based in Fort Washington, Pennsylvania, the Company services a diverse loan portfolio. Shellpoint Mortgage Servicing is one of America's Top 20 non-bank servicers of residential mortgage loans. Kayla Everett Sort by. Consequently, the Debtors were not able to implement their new business plan. Horrible company lied to me continuously throughout the loan process. Monmouth County offers a free bus service for senior citizens which provides transportation from each community to local supermarkets, shopping centers malls and other transportation hubs. As for Ditech Holding, the sale completes the companys dissolution of its mortgage assets as it works its way through its second bankruptcy in 14 months. Denbeaux and Denbeaux is a family-run law firm that represents the under-represented. To address their liquidity issues, the Debtors entered into various new agreements and transactions to generate cash. National Mortgage Lender NewRez LLC , formerly New Penn Financial, LLC, is a leading nationwide lender that focuses on offering a breadth of industry-leading products, supported by a loan process that blends both human interaction and the benefits of technology into an unparalleled customer experience. And the best part of all, documents in their CrowdSourced Library are FREE! Additionally, train service is availableat the Middletown station or nearby in Red Bank. Make sure you have an experienced foreclosure defense attorney by your side that will navigate you through the process and give you a fair chance at . 4 Will paying off my mortgage raise red flags with the IRS? SeeIn re Johns-Manville Corp. , 843 F.2d at 649 . Just one day after selling Reverse Mortgage Solutions to Mortgage Assets Management, the nonbank formerly known as Walter Investment Management sold off its forward mortgage business Ditech Financial to New Residential Investment for $1.2 billion.