Ditech was incorporated in 1995. Ditech or Ditech.com is a leading mortgage lending institution. It provides lines of credit and mortgage products being a member of the General Motors organization family, particularly General Motors Acceptance Corporation (GMAC).
The name Ditech has been derived from the phrase Direct Technology and it is a blend of the two words Direct and Technology.
Ditech.com functions as a business division of GMAC Mortgage. The headquarter of Ditech is located at Costa Mesa, California. Ditech was purchased by GMAC in 1999.
The commercials of Ditech are popular for their comical elements. More than 160 commercials for Ditech.com were produced by Ken Roberts Productions within the period of 1995-2007. The famous character of the banker was innovated by writer and director Ken Roberts.
The products and services of Ditech can be categorized into the following types:
- Home loans: The Real Life Plan offered by Ditech is the combination of three separate products: 30 year first mortgage with a low fixed rate, a free MasterCard ( Ditech Equity Rewards MasterCard) which brings down the principal whenever the borrower uses it, and a no lender fee home equity line. Other home mortgage loans offered by Ditech include Sleep EZ Loan, Equity Builder, Adjustable Rate Mortgage, Interest Only Adjustable Rate Mortgage, Low or No Money Down Financing, and the Ditech $395 Flat Fee.
- Refinancing: Ditech offers the Sleep EZ Loan which is a 30 year fixed rate loan which permits the mortgage borrower for paying interest only for the total or a part of the first 10 years- with each payment or once in a while. The principal benefit is that there is no negative amortization.
- Home equity: Ditech offers home equity loans for the purposes of home improvements, debt consolidation, or tuition. The Home Equity Line of Credit or HELOC proves to be a valuable tool with regards to a home improvement project. Ditech provides a wide range of home equity products with various rates and advantages, for example low or no closing costs.
The benefits offered by the mortgage products of Ditech are the following:
- Low rates: Ditech offers low and competitive rates on all of its products.
- Fast closing-and on schedule: Ditech closes the majority of its loans in less than 30 days, even in 10 or 15 days.
- The availability of mortgage consultants 24/7: The mortgage consultants of Ditech are available to the customers over the phone and live 24 hours a day and 7 days a week.
- Virtually all documents can be signed online: With the help of Ditech eSignature tool, the customers are able to virtually sign all documents electronically in a most convenient manner.
- Approval decision on the phone-in minutes: With the help of a Ditech mortgage consultant, the approval decision can be made in just a few minutes with a phone call.
- The trust of dealing with a GMAC company: Ditech is a GMAC family company and GMAC is one of the most reputed home loan companies in the US.
The mortgage products of Ditech have become popular because of their low interest rates. Ditech enjoys the position of a market leader in the home loan industry of the United States. With the help of Ditech, mortgage borrowers are able to obtain mortgages from a lender directly without the help of mediators like a mortgage broker.
The slogan of Ditech is "people are smart".
Contact Details:
Ditech
3200 Park Center Drive
Suite 150
Costa Mesa, CA 92626
Tel: 1-800-Ditech-3
Fax: 1-714-800-5801