Ditech Expands Presence and Plans to Hire Additional Staff in St. Louis Area

FORT WASHINGTON, Pa., May 16, 2016 (GLOBE NEWSWIRE) -- Ditech Financial LLC (“Ditech”) announced plans to convert its servicing site in the St. Louis market to an originations site focused on new loan production. The transition is in response to heightened customer demand for new loans.

All employees at the Earth City, Mo. servicing location have been offered continued employment in the originations business, including company-paid training and licensing expenses, with the opportunity to transition careers and specialize in various loan production functions. Ditech plans to further expand its originations efforts by hiring additional staff at this location, as well.

“We’ve recently experienced a steady increase in requests for new loans, presenting the ideal opportunity to transition the St. Louis site from servicing to originations,” said David Schneider, President at Ditech. “This change gives us the opportunity to keep quality employees and equip them with new skills, as well as bring new jobs to the market.”

“We place a very heavy emphasis on the customer experience at Ditech, and we’ve been creating additional touch points and further expanding our reach,” said Steve Stein, Senior Vice President of Mortgage Originations at Ditech. “Converting the site enables us to help more customers with their home ownership needs, whether it’s buying a new home or refinancing their current mortgage.”

The Earth City transition will take place during the third quarter of 2016.

About Ditech
Ditech Financial LLC (“Ditech”) makes financially sound homeownership possible for millions of customers. Ditech is a well-known lender and servicer of residential mortgages. With over 4,500 employees in locations across the U.S., the company provides residential mortgage products through a team of home loan specialists who are accessible by phone (1-800-700-9212) and online. Additionally, Ditech’s Correspondent Lending Division has relationships with 600+ financial institutions nationwide. Ditech is owned by Walter Investment Management Corp. (NYSE:WAC), a leading diversified mortgage banking firm. For more information, please visit www.ditech.com.

Disclaimer and Cautionary Note Regarding Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, certain of which are related to Ditech Financial LLC, a wholly owned subsidiary of Walter Investment Management Corp. (“Walter Investment”). Statements that are not historical fact are forward-looking statements. Certain of these forward-looking statements can be identified by the use of words such as “believes,” “anticipates,” “expects,” “intends,” “plans,” “projects,” “estimates,” “assumes,” “may,” “should,” “will,” "targets," or other similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors, and Walter Investment’s actual results, performance or achievements could differ materially from future results, performance or achievements expressed in these forward-looking statements. These forward-looking statements are based on Walter Investment’s current beliefs, intentions and expectations. These statements are not guarantees or indicative of future performance. Important assumptions and other important factors that could cause Walter Investment’s actual results to differ materially from those forward-looking statements include, but are not limited to, those factors, risks and uncertainties described under the caption "Risk Factors" in the Walter Investment Annual Report on Form 10-K for the year ended December 31, 2015 and in Walter Investment’s other filings with the SEC.

Contact: Megan Keohane Buchanan Public Relations Megank@buchananpr.com 610-649-9292

Source: ditech