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Ditech Wins Court Approval for Restructuring Plan

A federal bankruptcy judge in New York has approved Ditech’s plans for selling off its forward and reverse mortgage businesses and gaining Chapter 11 bankruptcy protection. So reports Seeking Alpha.

Ditech previously announced deals to sell its forward mortgage servicing and originations business to New Residential and its reverse mortgage business to Mortgage Assets.

The transactions are expected to close by year-end.

Read the full article from Seeking Alpha

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