August 19, 1998 |
Under pressure from state regulators, high-profile mortgage lender DiTech Funding Corp. on Tuesday offered to pay a total of $250,000 to about 2,000 customers who allegedly were overbilled for interest. But the offer, which came hours after the state Department of Corporations ordered the Irvine lender to reimburse customers and stop violating state law, falls short of what regulators were seeking.
May 2, 2000 |
The founder and TV pitchman for mortgage lending leader Ditech.com in Costa Mesa abruptly resigned Monday after three of his top managers were indicted for allegedly trying to extort kickbacks from a Pittsburgh real estate services firm. J. Paul Reddam, 44, a former philosophy teacher who stars in Ditech.com's ubiquitous television commercials, has not been charged with any wrongdoing. A spokesman for the company, a unit of General Motors Corp.
May 27, 2000 |
Costa Mesa mortgage lender Ditech.com Inc. said Friday that it has fired three top managers who were indicted May 2 on federal charges of extortion and accepting illegal kickbacks. "They are no longer employees of GMAC or Ditech," said Rick Gillespie, a spokesman for GMAC Residential Holdings, which owns Ditech. The executives had been on paid leave.
May 13, 2000 |
The FBI moved to seize records from a second company that does business with Ditech.com, widening the criminal investigation into an alleged extortion scheme involving former top managers of the Costa Mesa mortgage lender. Records were subpoenaed this week from Ditech vendor Southland Title Inc., Harold Grossman, Southland's corporate counsel, said Friday. The Burbank real estate services company also has launched an internal investigation into possible wrongdoing, he said.
May 2, 2000 |
The founder and TV pitchman for mortgage lending leader Ditech.com abruptly resigned Monday after three of his top managers were indicted for allegedly trying to extort kickbacks from a Pittsburgh real estate services firm. J. Paul Reddam, a former philosophy professor who stars in Ditech.com's ubiquitous television commercials, has not been charged with any wrongdoing. A spokesman for Ditech.com, a unit of General Motors Corp., said Reddam voluntarily resigned.
CALIFORNIA | LOCAL
July 14, 1998 |
Run, ride, climb, eat and drink this weekend to celebrate Bastille Day and help the needy of Orange County. The 14th annual DiTech Funding Bastille Day Celebration is scheduled for Saturday at the Sutton Place Hotel, 4500 MacArthur Blvd. in Newport Beach. Proceeds will go to the Second Harvest Food Bank of Orange County, which provides food to 180,000 people a month through a network of 298 nonprofit agencies. The day's events will run from 2 to 8:30 p.m.
December 15, 1999 |
Mortgage lender DiTech.com, whose giant billboards dot several Southern California freeways, is shifting its advertising focus from rush-hour traffic to Internet traffic. The Costa Mesa-based lender, which was recently acquired by GMAC Mortgage Corp., is launching its first "e-marketing" campaign designed to capitalize on the company's new Web site, which permits borrowers to apply for loans online.
April 2, 2000
Here are the Top 10 most active lenders for home refinancing in Southern California for 1999, ranked by dollar volume. *--* Lender Dollar Volume No. of Loans Washington Mutual FSB $5.18 billion 19,286 Bank of America $4.25 billion 20,065 Downey S&L (wholesale) $1.93 billion 8,629 Chase Manhattan Mortgage Corp. $1.69 billion 5,589 Countrywide Home Loans Inc. $1.64 billion 11,254 First Nationwide Mortgage Corp. $1.60 billion 6,188 Norwest Mortgage Inc. $1.
October 27, 1999 |
In one of the largest residential deals in Orange County this year, J. Paul Reddam, the chief executive of DiTech Funding Corp. and TV pitchman for the mortgage lender, bought a 10,000-square-foot oceanfront home in an exclusive neighborhood in Laguna Beach for $7 million. Reddam also bought the home's handmade furnishings, such as sofas, tables and chairs, adding $1 million to $1.5 million to the price, real estate agents said.
December 23, 1999 |
With few waterfront homes available at a time of high demand, a half-acre vacant lot in Laguna Beach recently fetched a cool $5 million, one of the highest prices ever. A mini bidding frenzy for the parcel broke out last month among business executives who live near the lot in the exclusive Smithcliffs neighborhood. Philip Carroll, Jr., chief executive of Fluor Corp.; Gary Brinderson, whose company developed Smithcliffs, and DiTech Funding Corp. founder J.