when did greentree become ditech

When did Greentree become Ditech? This question has been on the minds of many homeowners who have interacted with these two companies in the past. Perhaps you’ve had a mortgage with Greentree or Ditech and now you’re confused about their joint identity. Or maybe you’re a first-time borrower and want to understand the background of these two entities.

Well, let me tell you: Greentree became Ditech in 2015 when Walter Investment Management Corporation, the parent company of Ditech, acquired Green Tree Servicing LLC. The acquisition aimed to expand Ditech’s mortgage-servicing capabilities while capitalizing on Green Tree’s national origination and servicing platform. The consolidation cemented Ditech’s position in the highly-competitive mortgage industry, where it has had a tumultuous history.

If you’re curious about the reasons behind the merger and how it affects your mortgage, this article will break down the details. We’ll explore the rise and fall of both Greentree and Ditech, their shared history, and the impact of the merger on borrowers. In the end, you’ll have a clearer understanding of the who, what, when, where, and why of the Greentree-Ditech transformation.

History of the Greentree and Ditech Companies

Greentree was founded in 1975 as a manufactured housing financing company. Their headquarters were based in Rapid City, South Dakota, and their focus was on providing affordable home financing to lower-income Americans. Over the years, Greentree expanded its services to include home equity loans, personal loans, and servicing for mortgages.

In 1995, a group of investors led by J.C. Flowers & Co acquired Greentree for approximately $1.7 billion. Under the new ownership, Greentree continued its expansion by acquiring other mortgage servicing companies such as Conseco Finance Servicing Corp, Servico, and some servicing rights from GMAC. In 2003, Greentree was acquired by Clayton, Dubilier & Rice for an undisclosed amount.

  • In 2007, Ditech merged with GMAC’s mortgage unit to become GMAC ResCap.
  • In 2009, GMAC ResCap filed for bankruptcy due to mounting losses from mortgage bad loans.
  • In 2013, Ditech was relaunched as a subsidiary of Walter Investment Management Corp, and resumed its focus on direct-to-consumer mortgage lending and servicing.

Interestingly, after relaunching Ditech, Walter Investment Management Corp also acquired the servicing platform of Green Tree. They then decided to rebrand the combined company as Ditech Financial LLC in 2015.

Today, Ditech is one of the leading direct-to-consumer mortgage lenders and servicers in the United States, headquartered in Fort Washington, PA.

Reasons for the name change from Greentree to Ditech

In March 2015, Ditech Holding Corporation (formerly known as Walter Investment Management Corp.) announced that it was rebranding its Green Tree Servicing and Ditech Mortgage operations under a single entity – “Ditech”. The company cited several factors that influenced its decision to change its name from Greentree to Ditech.

  • Better Branding: The Green Tree brand was associated with the servicing of mobile and manufactured homes, which limited the company’s ability to attract customers in other segments of the mortgage and lending markets. By adopting the Ditech brand, the company hoped to establish a stronger and more comprehensive identity that could convey its wider range of financial products and services.
  • Operational Efficiencies: The Ditech rebranding was also intended to streamline the company’s operations by bringing together the Greentree Servicing and Ditech Mortgage units under a single unified platform, complete with a standard set of processes, systems, and technologies. The company believed that the consolidation would eliminate redundancies, optimize productivity, and help it better serve customers across all its business lines.
  • Revitalized Image: For many of its customers, Green Tree was perceived as an old-fashioned and outdated brand that lacked innovation or sophistication. Ditech, on the other hand, was seen as a fresh and modern brand that was more in tune with the contemporary needs of today’s mortgage customers. In this way, the Ditech rebranding was intended to imbue the company with a more youthful and forward-looking image, that could attract a broader range of customers and employees.

All in all, the Ditech name change was part of a broader strategy to reposition the company for long-term growth and profitability. Through a combination of brand revitalization, operational excellence, and modernizing its product and service offerings, the company hopes to remain a competitive and innovative force in the financial services landscape for years to come.

Impact of the Name Change on the Company’s Branding and Marketing

Ditech Financial LLC, formerly known as Green Tree Servicing LLC, renamed itself in 2015, two years after Walter Investment Management Corp acquired the company. The Green Tree trademark had been associated with controversies such as lawsuits alleging that the company had misled homeowners and fraudulently charged excessive fees. Walter Investment Management Corp saw renaming the company as a way to distance the firm from its problematic past and rebrand the enterprise to reach new customers.

  • The name change helped the company reposition itself and project the image of a new legal entity with no legal or financial liabilities carried over from Green Tree.
  • It allowed Ditech Financial to introduce new products and refine its services to appeal to a broader client base, including first-time homebuyers and minority communities.
  • Former Green Tree customers were aware of the negative publicity against the company, which made the rebranding a significant opportunity for Ditech Financial to rebuild consumer trust and improve its public image.

As part of its rebranding strategy, Ditech Financial revamped its website, logo, and advertising campaigns to reflect the new corporate identity. The company invested significant resources in marketing initiatives, including social media ads, sponsored content, and promotional events. Ditech Financial also developed strategic partnerships with real estate brokers and other key players in the housing industry to expand its reach and engage customers in more meaningful ways.

The table below provides a brief overview of the before-and-after changes in the company’s branding:

Green Tree Servicing LLC Ditech Financial LLC
Name Green Tree Ditech
Logo Tree emblem with Green Tree Servicing LLC written underneath New, modernized Ditech logo with Ditech Financial LLC written underneath
Website Old website design with outdated customer interface New, user-friendly website with polished user interface and improved navigation system
Advertising Campaigns Minimalistic ads with Green Tree logo and name Aggressive marketing campaigns with new advertising theme and messaging

Overall, the name change from Green Tree Servicing LLC to Ditech Financial LLC was a significant decision that impacted the company’s branding and marketing strategies. The rebranding effort helped the company turn the page from its past legal and financial issues, expanding its business and reach to new customers.

Comparison of the Greentree and Ditech Mortgage Products and Services

In 2015, the mortgage industry saw a major change when Greentree Servicing LLC was rebranded as Ditech Financial LLC, which is a subsidiary of Walter Investment Management Corp. This change was made to unify the various brands of Walter Investment Management Corp. under a single brand name. Let’s take a closer look at the mortgage products and services offered by both Greentree and Ditech to help you determine which company may best suit your needs.

  • Loan Products: Both Greentree and Ditech offer various mortgage loan products, including conventional loans, FHA loans, VA loans, and jumbo loans. Additionally, Ditech also offers Home Equity loans and Home Equity Lines of Credit (HELOCs).
  • Loan Servicing: Both companies service their own loans, which means that customers continue to work with the same company after their loan is originated. This allows for better continuity and consistency in customer service.
  • Online Tools and Resources: Both companies offer online tools and resources to help their customers manage their mortgages, including online payments, account management, and educational articles and videos.

While the products and services offered by Greentree and Ditech are similar, there are some differences to consider.

One major difference between the two companies is their target market. Greentree primarily focused on servicing subprime loans, while Ditech offers a wider range of products and services to customers with varying credit profiles.

Another important factor to consider is customer satisfaction. According to J.D. Power’s 2019 U.S. Primary Mortgage Servicer Satisfaction Study, Ditech had an overall customer satisfaction score that was higher than the industry average, while Greentree’s score was below the industry average. It’s essential to note, however, that this study primarily focused on customer satisfaction with loan servicing features, not mortgage origination.

Area of Comparison Greentree Ditech
Target Market Subprime borrowers Customers with varying credit profiles
Customer Satisfaction Below industry average Above industry average

Overall, both Greentree and Ditech offer a range of mortgage products and services to customers. When deciding which company to work with, it’s essential to consider your specific needs and credit profile, as well as any other factors that may impact your overall experience, such as customer satisfaction ratings or online tools and resources.

Customer reactions to the Greentree-Ditech name change

When Greentree Servicing LLC announced its name change to Ditech Financial LLC in August 2015, it stirred mixed reactions from its existing customers and mortgage industry experts.

Some customers were unhappy about the change, while others embraced it. Here are some reactions:

  • Positive reaction: Some customers who trusted and liked the Ditech brand welcomed the change. They believed that it signified a fresh start and a new direction for the company.
  • Negative reaction: Other customers expressed their dissatisfaction with the new name, saying that Greentree had been around for years, and they had grown accustomed to it. Some even threatened to take their business elsewhere.
  • Confused reaction: A few customers were confused about the name change and wondered if it meant that the company was being sold or merged with another entity. They wanted to know what it meant for their mortgage payments and terms.

However, Ditech executives were keen to reassure their customers that the name change did not impact their existing mortgage contracts, terms, and conditions. Moreover, they emphasized that the new branding reflected the company’s renewed focus on providing customers with a better mortgage experience.

As a result, Ditech launched a new website, redesigned its logo, and launched new advertising campaigns to communicate its commitment to delivering innovative digital mortgage solutions and personalized customer service.

Pros Cons
Rebranding increased awareness of the company’s new vision Losing the Greentree brand may have resulted in customer confusion and loss of loyalty
New website and advertising campaigns can create excitement and engage new customers Some customers may have been unhappy with the new name, leading to negative sentiments and complaints
New branding is an opportunity to differentiate Ditech from its competitors and build a strong brand The cost of rebranding, website redesigning, and advertising can be significant

Overall, the Greentree-Ditech name change sparked a range of customer reactions, with some welcoming the change and others expressing skepticism or confusion. However, Ditech executives were resolute in their commitment to providing customers with a better mortgage experience, and the new branding reflected that commitment.

Legal considerations surrounding the name change

Gone are the days when companies could change their names on a whim without any legal considerations. The legal implications of a name change are significant, and they can affect various aspects of a business, ranging from branding to taxation to intellectual property rights. This was no different for Greentree when it rebranded as Ditech in 2015.

Here are some of the legal considerations that Greentree had to take into account before making the switch:

  • Branding: A name is a crucial part of a company’s brand, and a change in name could potentially alienate its audience. Greentree had to ensure that the new name resonated with its customers and wasn’t too different from the original name.
  • Intellectual Property rights: Changing a name could also mean losing certain intellectual property rights. Greentree had to ensure that it didn’t infringe on any trademarks or patents held by other companies.
  • Marketing and advertising: Rebranding also means rethinking the marketing and advertising strategies of a company. Greentree had to ensure that its new name could be marketed effectively and wouldn’t cause any confusion among its target audience.

In addition to these considerations, Greentree had to comply with various legal requirements before it could officially change its name. For example, it had to:

  • File a name change request with the state secretary of state.
  • Update its tax identification number and other financial records.
  • File a new trademark application with the United States Patent and Trademark Office.

Even with all these legal considerations in mind, rebranding can bring many benefits to a company. In the case of Ditech, the new name allowed the company to expand its product offerings and appeal to a broader audience.


Every company has a unique set of legal considerations to take into account when considering a name change. Greentree’s transition to Ditech shows that with careful planning and attention to detail, a name change can be a successful move for a business.

Note: The legal considerations mentioned here are for informational purposes only and should not be taken as legal advice.

Legal Implications Considerations
Branding Ensure new name resonates with customers.
Intellectual Property rights Avoid infringing on other companies’ patents and trademarks.
Marketing and advertising Rethink advertising strategies to effectively market the new brand.
Complying with legal requirements File name change request, update tax identification number and other financial records.

Overall, name changes can be complex processes, but understanding the legal implications behind them is key to a successful rebranding.

Financial performance of Greentree vs. Ditech before and after the name change

When Greentree Servicing LLC changed its name to Ditech Financial LLC in February 2015, it was a move to rebrand after years of scrutiny and financial challenges. The company wanted to emphasize its focus on homeownership and customer service, and believed the new name better reflected that. But how did the financial performance of the company change before and after the name change?

  • Before the name change, Greentree was struggling financially. In 2013, the company was fined $63 million by the Consumer Financial Protection Bureau for illegal loan servicing and debt collection practices. This was a significant blow to the company’s reputation and finances. In the following years, Greentree’s financial performance continued to decline.
  • In 2014, the company reported a net loss of $234 million, compared to a net loss of $37 million in 2013. The company had a negative net worth of $120 million at the end of 2014.
  • After the name change, Ditech’s financial performance improved in some ways, but not others. In 2015 (the year of the name change), the company reported a net loss of $48 million, a significant improvement from the previous year. However, Ditech’s revenue continued to decline.

Overall, the name change did not have a dramatic impact on the financial performance of the company. While it helped to distance Ditech from the scandals and negative publicity associated with the Greentree name, the company still faced significant financial challenges, including declining revenue and ongoing losses.

Here is a table to visualize the financial performance of Greentree vs. Ditech:

Year Greentree Financial Performance Ditech Financial Performance
2013 Net loss of $37 million N/A
2014 Net loss of $234 million, negative net worth of $120 million N/A
2015 Name change occurs Net loss of $48 million

It’s worth noting that Ditech has continued to face financial challenges since the name change. In early 2019, the company filed for Chapter 11 bankruptcy protection, citing a “difficult operating environment.” The bankruptcy included a plan to restructure the company’s debt and operations, which Ditech expected would help put it on a path to financial stability.

When did Greentree become Ditech?

Q: Why did Greentree become Ditech?
A: Ditech acquired Greentree in 2015 as a part of the company’s expansion plan.

Q: What type of loans did Greentree offer before becoming Ditech?
A: Originally, Greentree offered manufactured or mobile home loans. After being acquired by Ditech, the company diversified its products to include various loan types.

Q: Can I still get a mobile home loan from Ditech?
A: Yes, Ditech offers manufactured home loans, as well as conventional, FHA, and VA loans.

Q: Did the acquisition of Greentree change the company’s name?
A: Yes, after the acquisition, Greentree became Ditech Financial LLC.

Q: Was Greentree struggling financially before the acquisition?
A: There is no evidence that Greentree was struggling financially. Ditech acquired the company as part of its expansion strategy.

Q: Has Ditech made any major changes to the way Greentree operated?
A: Yes, Ditech diversified the products offered by the company and streamlined the loan process.

Q: Can I still access my old Greentree account?
A: Yes, customers who had previous accounts with Greentree can still access their accounts through the Ditech website.

Closing Thoughts

Thanks for checking out our article on when Greentree became Ditech. We hope we were able to answer your questions in a clear and concise way. Don’t forget to visit us again for more informative articles on finance and loans!