In surprise move, Ditech head steps down

by Ryan Smith14 Oct 2016
In a move seemingly out of nowhere, Ditech Financial’s president left the company this week, according to a filing with the Securities and Exchange Commission.

The filing was made by Ditech parent company Walter Investment Management Corp., according to a HousingWire report. The departure of David Schneider from Ditech is only the latest executive shakeup for Walter Investment, which itself has been through four CEOs in the space of a year, HousingWire reported.

Ditech Financial was formed in 2015 when Walter Investment merged subsidiaries Ditech Mortgage and Green Tree Servicing. When the company was formed, Walter Investment said that Schneider would run Ditech’s servicing division while Patricia Cook would be in charge of originations. But Cook departed in February, and Schneider was tapped to oversee both servicing an originations, HousingWire reported.

Walter Investment said in its filing that Schneider’s departure is “related to a broader plan to realign the company’s management structure” with the “intent of making (the company) leaner and more effective.”
 

COMMENTS

  • by Gabe | 10/14/2016 6:18:19 PM

    Maybe he listened to his conscience and got tired of all the fraud ...There is a double standard in this country where the little guy pays for his crimes while the hardened gold collared criminals are allowed to steal and pilfer without any consequences. The courts across the country are allowing forged and fabricated evidence to be used to steal homes in fraudulent foreclosures. Legal instruments authenticate ownership , but when banks resort to fabrication and forgery to create the illusion of ownership the entire system breaks down.
    Fannie Mae, in cahoots w/CORRUPT bank of america (or as they prefer in their falsified assignments: fka Countrywide), KNOWINGLY LIED to the District Attorneys about modifications in regards to their ponzi scheme mortgages , and instead underhandedly, bundled up the mortgages AGAIN, but not before forging owner's signatures and adding falsified stamped "ta-da" endorsements, fabricated assignments and then handed them over to others, such as Ditech (FKA GreenTree), Everbank, etc, who then handed the fabricated documents over to their substitute trustee attorneys.... who have been and continue to submit the fabricated documents to the courthouses across the country to foreclose on countless more homeowners, who were NOTHING , but bamboozled from the start. But it's ok because evil bank of america dished out anywhere from $300-$2000 per homeowner a few years ago as their hush hush punishment. Then the games began...lies about modifications, lies about trial payments, lies about lost modification applications....all to stall and then bundle them up again with the newfound forgeries and falsifications. But it's ok because after Fannie Mae(hiding behind their substitute trustees) kicks the defrauded homeowners to the curb, they'll make up for it by selling the home to minorities or small time investors. Sorta like if a child molester rapes a child and then on the way home stops by the candy store to buy a gumball for a kid on the street. How pathetically evil! Anyone who believes the wall street bailout ended in 2008 is sadly and sorely mistaken.

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