The Real Estate Encyclopedia
Ditech
Category - Home Purchase Facilitators - Financial & Mortgage

GMAC's Residential Holding Group, through its ditech.com unit and others, is one of the largest mortgage providers in the U.S., selling more than $72 billion in home loans last year.

Started in 1995. Ditech has made a revolutionary entry into the field to capitalize on the unmet need in the mortgage industry for faster, easier access to mortgage loans. The customers were not satisfied with traditional mortgage brokerage so Ditech's, “ditech business model” allowed consumers to get mortgages directly through a lender rather than relying on an intermediary like a mortgage broker. Simultaneously, the Internet was gaining popularity and consumers were finally accepting it as both a research and purchasing tool. The company is providing selected group of products that appeal to a wide range of borrowers.

The company is offering fewer products and avoiding niche offerings so that it is able to streamline its operations to keep costs and application delays to a minimum. Its percentage of growth tells its development, where its funding volume has grown 290% and funding dollar volume has grown by 283%. Capitalizing on GMAC's reputation and mortgage experience, Ditech continues to successfully identify consumer needs and create products to address them.

Because of their large advertising budget, their fees are much higher than a local mortgage broker, banker or bank.  If consumers compare the fees they are charged for a rate, they will see that the fees are very high.  



External Links
http://www.ditech.com
 
 
Category(s)
Home Purchase Facilitators - Financial & Mortgage
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