Here is what we found on Wikopedia for Ditech.
Ditech is a lender, offering mortgages and lines of credit as a member of the General Motors family of companies, specifically General Motors Acceptance Corporation (GMAC) which purchased Ditech from its private owner in 1999. The company's name is a portmanteau derived from the phrase Direct Technology.[1] In late 2006, a controlling interest(51%) of GMAC was acquired by private equity outfit Cerberus Capital Management.
While Ditech is best known to many people for its past commercials featuring an obnoxious, red-headed actor shouting the catch phrase "Lost another loan to Ditech!" In May, 2007, the company introduced a new marketing campaign, adding the tagline "People Are Smart" and including the signature line Home financing by GMAC to further help separate and elevate the Ditech brand from other direct-to-consumer lenders--a category often thought of as including some fly-by-night or less than savory companies.
Along with the new tagline and distinctive, new illustration-based TV campaign, Ditech also introduced, for the first time, a menu of branded products. These products included the "Sleep EZ Loan" (a fixed rate mortgage that gives borrowers payment relief by allowing them to pay interest only for the first ten years without any negative amortization), and "Real Life Plan," (combining a first mortgage, home equity loan, and a credit card that builds points to pay down mortgage principle).
Saturday, November 10, 2007
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