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Ditech Completes $1.2B Sale to New Residential

New Residential has closed its deal to buy “select assets” from Ditech Financial and Ditech Holdings, with a price tag of $1.2 billion. So reports Seeking Alpha.

Under the previously announced terms, New Residential acquires Ditech’s Fannie Mae, Ginnie Mae and non-agency mortgage servicing rights, with an aggregate unpaid principal balance of about $62 billion as of August 31.

New Residential said it will also take over certain Ditech offices and hire about 1,100 Ditech workers to meet the added volume in its servicing and origination businesses.

Read the full article from Seeking Alpha

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