COSTA MESA, California, (May 21, 2007) - ditech®, a nationwide provider of residential mortgage loans and financial services, announced today the launch of the Real Life PlanSM, the first product of its kind to combine a mortgage or refinance with a home equity line of credit (HELOC) and the ditech Equity RewardsSM MasterCard®, which helps pay down the loan principal with use.
With the Real Life Plan, customers receive a mortgage or refinance, a HELOC at no extra cost and a no-annual-cost ditech Equity Rewards MasterCard. The Equity Rewards MasterCard awards customers one point for every dollar in net retail purchases. Each time the cardholder accumulates 2,500 points they qualify for a $25 reduction of their principal.
"People are smart," said Rick Powers, general manager of ditech. "Our customers want personal finance solutions that meet their specific lifestyle needs. With the Real Life Plan they can buy or refinance a home, use the HELOC to remodel and the Equity Rewards MasterCard to redecorate, while reducing their principal at the same time. This plan makes all three home finance tools available simultaneously, meeting a previously un-addressed need in the market."
In its effort to offer products that meet customer needs, ditech also has changed the features of two existing products, the Sleep EZ LoanSM and Equity Builder.
The Sleep EZ Loan enables customers to keep their payments low by choosing to pay interest only for any or all months during the first 10 years of their loan. This initial period gives customers flexibility, but the loan also provides the security of a 30-year loan at a fixed rate for the entire duration and no negative amortization.
Another ditech option is the Equity Builder program, which can save customers thousands of dollars in interest and help them pay their mortgages off sooner without straining their budgets. With Equity Builder's bi-weekly payment program, customers make the equivalent of one extra mortgage payment a year, which is applied directly to the loan principal.
For example, on a $250,000, 30-year, fixed-rate mortgage at 6.25 percent interest, a customer would save more than $68,000 in interest and pay off the loan in just over 24 years.
"People come to ditech knowing what they want to achieve, so we want to help them get there as quickly and easily as possible," said Powers. "With ditech's online application system, customers receive their loan approval decision over the phone in minutes. We send a notary to their home to finish the process, and they can close in 30 days or less."
For more information about ditech products, please visit www.ditech.com.
About ditech (http://www.ditech.com)
Founded in 1995, ditech is a nationwide provider of mortgage loans and financial services driven by the belief that people are smart - and that they should be treated that way with smart products and services. Through an innovative online system, ditech offers customers a variety of mortgage finance solutions, including first mortgages, refinancing, home equity loans, and equity lines of credit. As a business unit of real estate finance company GMAC ResCap (Residential Capital, LLC), ditech provides customers with the security of working with one of America's largest residential lenders. ditech loan consultants are available by phone 24 hours a day, 7 days a week. This commitment to customer service coupled with world-class online capabilities enables ditech customers to enjoy a superior experience and report the highest levels of satisfaction. ditech is based in Costa Mesa, California.
About GMAC ResCap
Residential Capital, LLC (GMAC ResCap) is a leading real estate finance company, focused primarily on the residential real estate market in the United States, Canada, Europe, Latin America, and Australia. Our diversified businesses -- GMAC-RFC, GMAC Mortgage, LLC, ditech, GMAC Bank, GMAC Real Estate, and Homecomings Financial, LLC -- cover the spectrum of the U.S. residential finance industry, from origination and servicing of mortgage loans through their securitization in the secondary market. We also provide capital to other originators of mortgage loans, residential real estate developers, resort and timeshare developers and healthcare companies. Residential Capital, LLC (http://www.rescapholdings.com) is an indirect wholly owned subsidiary of GMAC LLC. itech is a licensed mortgage lender as well as an Equal Housing lender.
GMAC ResCap (http://www.gmacrescap.com) is an indirect wholly owned subsidiary of GMAC Financial Services. GMAC Financial Services is a global, diversified financial services company that operates in approximately 40 countries in automotive finance, real estate finance, insurance and commercial finance businesses. GMAC was established in 1919 and currently employs about 31,000 people worldwide. At Dec. 31, 2006, GMAC held more than $287 billion in assets and earned net income for 2006 of $2.1 billion on net revenue of $18.2 billion. For more information, please go to http://www.gmacfs.com.
COSTA MESA, California, (November 21, 2006) - ditech® (http://www.ditech.com), a leading direct mortgage lender, has re-launched its Web site to further enhance the experience of consumers who come to ditech seeking first mortgages, home equity loans and home equity lines of credit. Changes to the Web site's design and function have been made to simplify and shorten the time and effort required to obtain information on getting a mortgage. These changes were made as a result of a detailed and extensive consumer study commissioned by ditech in 2005.
"We understand that consumers visit ditech for mortgage-related information prior to starting an online application or electing to call one of our dedicated mortgage consultants," said Richard D. Powers, general manager of ditech. "The new site has been optimized to ensure that consumers are just one click away from getting the information they need in a fast and convenient manner. We want to empower consumers by providing them with value-added tools and calculators to help them make an informed decision."
The changes include new navigation and consumer friendly layouts to enhance the online mortgage experience. The site features several tools, calculators, and scenario builders to help consumers choose the right mortgage product to fit their needs and to better understand their payments, fees and closing costs. For example, the Custom Rate and Fee Payment calculator allows consumers to view applicable payments, along with a detailed breakdown of the closing costs. The ditech eAppraisal SM tool helps consumers understand the value of a new home purchase or approximate the equity value of their existing home for a home equity loan.
Many ditech customers also enjoy the convenience of online self-service for checking their loan application status, downloading tax related information or for making payments online 24-hours a day, seven days a week.
About ditech
Founded in 1995, ditech® ( http://www.ditech.com), based in Costa Mesa, California, is a business unit of Residential Capital, LLC, a leading real estate finance company. ditech delivers excellent customer service along with the security of being part of one of the largest mortgage companies in America. ditech offers the consumer a variety of products, including first mortgages, variable equity lines of credit and no closing cost equity seconds. The online capabilities allow the customer to communicate with knowledgeable mortgage consultants from home, work or on the road.
Residential Capital, LLC ( http://www.rescapholdings.com) is a leading real estate finance company, focused primarily on the residential real estate market in the United States, Canada, Europe and Latin America. The company's diversified businesses - GMAC-RFC, GMAC Mortgage, LLC, ditech, GMAC Bank, GMAC Real Estate, and Homecomings Financial - cover the spectrum of the U.S. residential finance industry, from origination and servicing of mortgage loans through their securitization in the secondary market. We also provides capital to other originators of mortgage loans, residential real estate developers, resort and timeshare developers and healthcare companies. Residential Capital, LLC is an indirect wholly owned subsidiary of GMAC LLC. ditech is a licensed mortgage lender as well as an Equal Housing lender.
COSTA MESA, California (November 16, 2006) - ditech® ( http://www.ditech.com), a leading direct mortgage lender, has released the ditech Equity Rewards SM MasterCard® credit card. Exclusively for qualified ditech customers, the ditech Equity Rewards MasterCard® credit card offers a unique reward - the ability for ditech customers to pay down their mortgage balance with every qualifying purchase.
"With the ditech Equity Rewards MasterCard® credit card, your money works smarter," said Richard D. Powers, general manager of ditech. "Consumers want an alternative to the traditional credit card reward programs. Airline miles are nice, but the ability to pay down the principal on their mortgages is even better. It gives our mortgage customers even more control over their personal finances."
Cardholders earn one point for every dollar in net retail purchases charged to the card. Each time a cardholder accumulates 2,500 points, that cardholder qualifies for a $25 reduction of principal on the cardholder's mortgage with ditech. There are no annual limits on points or on how many rewards can be applied to reduce mortgage principal. Points are redeemed automatically, and rewards are applied once a quarter.
The ditech Equity Rewards MasterCard® credit card complements the GMAC Mortgage Equity Rewards MasterCard® credit card, which was released in 2004. The card is offered at a 7.9 percent APR and includes a low introductory rate of zero percent on cash advance checks and balance transfers for the first twelve billing cycles†, credit lines of up to $100,000, 24-hour customer service, fraud protection, secure Internet access to account information, electronic bill paying service, and worldwide acceptance. To apply for a ditech Equity Rewards MasterCard® credit card, call 1-800-821-8758 and mention priority Code MB3R or apply online at www.newcardonline.com and enter priority code MB36.
† For information about rates, fees, other costs, and benefits associated with the use of the card, or to apply, visit online or call 1-800-821-8758 and mention priority code MB3R. This credit card program is issued and administered by FIA Card Services, N.A. MasterCard® is a federally registered service mark of MasterCard® International Inc., and is used by the issuer pursuant to license.
About ditech
Founded in 1995, ditech® ( http://www.ditech.com), based in Costa Mesa, California, is a business unit of Residential Capital, LLC, a leading real estate finance company. ditech delivers excellent customer service along with the security of being part of one of the largest mortgage companies in America. ditech offers the consumer a variety of products, including first mortgages, variable equity lines of credit and no closing cost equity seconds. The online capabilities allow the customer to communicate with knowledgeable mortgage consultants from home, work or on the road.
Residential Capital, LLC ( http://www.rescapholdings.com) is a leading real estate finance company, focused primarily on the residential real estate market in the United States, Canada, Europe and Latin America. The company's diversified businesses - GMAC-RFC, GMAC Mortgage, LLC, ditech, GMAC Bank, GMAC Real Estate, and Homecomings Financial - cover the spectrum of the U.S. residential finance industry, from origination and servicing of mortgage loans through their securitization in the secondary market. We also provides capital to other originators of mortgage loans, residential real estate developers, resort and timeshare developers and healthcare companies. Residential Capital, LLC is an indirect wholly owned subsidiary of GMAC LLC. ditech is a licensed mortgage lender as well as an Equal Housing lender.
MINNEAPOLIS, Minnesota (October 17, 2006) - ditech, one of the nation's most well-known direct mortgage lenders, is offering homeowners the opportunity to win a year's worth of mortgage payments (up to $25,000) in its 2006 ditech Home Mortgage Sweepstakes.
The grand-prize winner will receive one year of free mortgage payments (principal and interest only) up to a total of $25,000. An additional 100 first-prize winners will be selected to win a $50 VISA gift card. Winners will be selected in a random drawing on or about Jan. 15, 2007.
"This has been an enormously popular event at ditech, and we are pleased to offer it again in 2006," says Rick Powers, senior vice president and general manager of ditech, a business unit of GMAC Mortgage, one of the nation's largest mortgage lenders. "Imagine if you will - $25,000 toward paying down your mortgage. Imagine the freedom and peace of mind that could offer. That's what ditech is about: helping homeowners take control of their finances by offering real estate finance products that are delivered quickly, securely and direct to the homeowner, 24 hours a day, seven days a week."
Based in Orange County, California, ditech is one of the most recognized mortgage lenders in the United States. The company originates thousands of loans every year and has grown into a full-service company that provides home loans with competitive rates and among the highest levels of customer care to consumers nationwide. ditech is dedicated to delivering new services and technology, such as flat closing fees and electronic mortgages, that enhance a customer's ability to easily access financing from the convenience of their home or workplace.
According to Powers, the sweepstakes drawing is available to all legal residents in the U.S. (excluding Puerto Rico, overseas military installations and other U.S. territories), who are 18 years of age or older and hold a valid U.S. driver's license. No purchase is necessary to enter the sweepstakes.
"In addition to entering the sweepstakes, we offer current customers the opportunity to complete a short survey and let us know how we did in helping them with their home financing needs," Powers added. "Exceptional customer service is essential to our continued growth. Obtaining feedback directly from our customers helps us offer better products and services that make obtaining a loan from us even easier, faster and friendlier."
All entries must be received by midnight, Pacific Standard Time, Dec. 31, 2006.
About ditech
Founded in 1995, ditech® ( http://www.ditech.com), based in Costa Mesa, California, is a business unit of Residential Capital Corporation, a leading real estate finance company. ditech delivers excellent customer service along with the security of being part of one of the largest mortgage companies in America. ditech offers the consumer a variety of products, including first mortgages, variable equity lines of credit and no closing cost equity seconds. The online capabilities allow the customer to communicate with knowledgeable mortgage consultants from home, work or on the road.
Residential Capital Corporation ( http://www.rescapholdings.com) is a leading real estate finance company, focused primarily on the residential real estate market in the United States, Canada, Europe and Latin America. The company's diversified businesses - GMAC-RFC, GMAC Mortgage, ditech, GMAC Bank, GMAC Real Estate, and Homecomings Financial - cover the spectrum of the U.S. residential finance industry, from origination and servicing of mortgage loans through their securitization in the secondary market. It also provides capital to other originators of mortgage loans, residential real estate developers, resort and timeshare developers and healthcare companies. Residential Capital Corporation is an indirect wholly owned subsidiary of GMAC Financial Services (GMAC LLC).
ditech is a licensed mortgage lender as well as an Equal Housing lender.
COSTA MESA, California (September 27, 2006) - ditech® (www.ditech.com), a leading direct mortgage lender, has named Richard D. Powers as Senior Vice President and General Manager.
Powers joins ditech from Metrociti Mortgage Corporation, where he served as president of the company's Western Division. Prior to Metrociti, Powers served as president of KB Home Mortgage where he managed the captive mortgage business, which included responsibility for that company's consumer direct subsidiary. He also served as president and chief executive officer of Charter One Mortgage Corporation for seven years.
"Rick is a proven leader in the financial services industry with demonstrated experience in mortgage lending," said Jim Hillsman, Executive Vice President of Business-to-Consumer Operations of Residential Capital Corporation's Residential Finance Group. "We look forward to Rick's contributions to ditech as we aim not only to sustain our growth, but to also ensure that we continue to empower consumers by providing them with the home financing products and tools they need in the most convenient way possible."
Powers earned a Bachelor of Arts degree from Excelsior College in Albany, N.Y. and an M.B.A. from the University of Chicago Graduate School of Business.
About ditech
Founded in 1995, ditech® ( http://www.ditech.com), based in Costa Mesa, California, is a business unit of Residential Capital Corporation, a leading real estate finance company. ditech delivers excellent customer service along with the security of being part of one of the largest mortgage companies in America. ditech offers consumers a variety of products, including first mortgages, variable equity lines of credit and no closing cost equity seconds. ditech's online capabilities allow customers to communicate with knowledgeable mortgage consultants from home, work or on the road, 24-hours a day, 7-days a week.
Residential Capital Corporation is a leading real estate finance company, focused primarily on the residential real estate market in the United States, Canada, Europe and Latin America. The company's diversified businesses - GMAC-RFC, GMAC Mortgage, ditech, GMAC Bank, GMAC Real Estate GMAC-RFC Securities and Homecomings Financial - cover the spectrum of the U.S. residential finance industry, from origination and servicing of mortgage loans through their securitization in the secondary market. We also provide capital to other originators of mortgage loans, residential real estate developers, resort and timeshare developers and healthcare companies. Residential Capital Corporation is an indirect wholly owned subsidiary of GMAC Financial Services (GMAC LLC). For more information about our company, visit http://www.rescapholdings.com.
COSTA MESA, California, (May 31, 2006) - Mortgage consumers are now another step closer to a completely paperless mortgage experience with new enhancements offered by ditech, a leading direct mortgage lender. With its eWelcome service, mortgage consumers throughout the United States can securely review, verify and approve mortgage documents via the Internet right up to closing - all from the comfort of their home or office. These enhancements move ditech consumers closer to a completely paperless mortgage experience .
eWelcome, an eLynx-powered service, adds a new element of speed and convenience to the mortgage application and approval process by allowing customers to receive and review mortgage documents at any time and from any location where they have an Internet connection. eWelcome speeds the mortgage process for consumers by avoiding the traditional delays of several days incurred in sending documents via mail or delivery service from borrower to lender.
Through eWelcome, ditech customers can opt to eliminate the need to receive paper statements, disclosures and similar documents, and instead receive a personalized email with a secure, password-protected link that allows them to access, download and eSign their application paperwork instantly via the Internet. Customers can then utilize eWelcome 's e-delivery service to review and return proof of acceptance of disclosure documents such as the application, Good Faith Estimate and Truth-in-Lending. Since its inception in April 1, 2005, 56,000 ditech customers have opted to use an aspect of the eWelcome service. Based on this response, the company expects that more than half of its mortgage applications will be processed using eWelcome by June 30, 2006.
"We are excited to provide a paperless mortgage experience to our customers," said Mike McCarthy , general manager, ditech. "Our customers tell us that they value the speed, ease and convenience in the mortgage process, and value certainty at the closing table. We are proud to lead the industry by bringing our customers innovative products and services such as eWelcome that give them the control, speed and convenience throughout the mortgage process they demand. We look forward to continuing our drive towards a 100% paperless mortgage process, for both consumers and lenders."
In addition to simplifying the lending process, eWelcome provides customers with the added confidence of knowing that they are getting the rates they were promised with no hidden costs or fees. The final step toward a completely paperless mortgage process will be the implementation of compliance measures for the acceptance of electronic documentation across the mortgage industry.
The traditional paper process will continue to be available to those consumers who prefer it.
Consumers can choose to receive, approve and return all documents electronically; to receive documents electronically, and print, approve and return paper copies; or to receive, approve and return all documents in paper format. Homeowners interested in learning more about how ditech uses the electronic signature process can visit their website at www.ditech.
About eLynx
eLynx, based in Cincinnati , Ohio , enables businesses to improve workflow and deliver dramatic cost savings by automating paper-intensive processes that quickly integrate with your existing business systems. The company's innovative solutions ensure compliance with evolving industry regulations and standards, while maintaining data electronically throughout the document lifecycle. The nation's top financial services enterprises rely on eLynx to communicate with customers and collaborate with business partners quickly, securely and reliably. For more information, about eLynx visit www.elynx.com . It's time to Enter the World of e .
About ditech
Founded in 1995, ditech®, based in Costa Mesa, California, a business unit of Residential Capital Corporation, a leading real estate finance company, which is an indirectly owned subsidiary of General Motors Acceptance Corporation (GMAC). ditech delivers excellent customer service along with the security of being part of one of the largest mortgage companies in America . Ditech offers the consumer a variety of products, including first mortgages, variable equity lines of credit and no closing cost equity seconds. The online capabilities allow the customer to communicate with knowledgeable mortgage consultants from home, work or on the road.
Residential Capital Corporation is a leading real estate finance company, focused primarily on the residential real estate market in the United States , Canada , Europe and Latin America . Our diversified businesses -- GMAC-RFC, GMAC Mortgage, ditech, GMAC Bank, GMAC Real Estate GMAC-RFC Securities and Homecomings Financial -- cover the spectrum of the U.S. residential finance industry, from origination and servicing of mortgage loans through their securitization in the secondary market. We also provide capital to other originators of mortgage loans, residential real estate developers, resort and timeshare developers and healthcare companies. Residential Capital Corporation is an indirect wholly owned subsidiary of General Motors Acceptance Corporation (GMAC). For more information about our company, visit https://www.rescapholdings.com .
SANTA ANA, California (June 28, 2005) - ditech is raising the bar, or should we say "golf club," for Orange County's abused and neglected children. The company, a direct mortgage lender headquartered in Costa Mesa, held its second annual charity golf tournament last month at Strawberry Farms and set an impressive goal of increasing by 30% the prior year's proceeds of $150,000 for Orangewood Children's Foundation. The company's efforts paid off. It exceeded the goal, raising $232,000 for Orangewood.
Of the proceeds from the golf tournament $200,000 will be donated to the foundation for scholarships so that more former foster youth in Orange County can achieve their dreams of a college education. "ditech is an incredible corporate partner for our kids. Their amazing results from this golf tournament alone will help more than 30 young adults attend college this Fall...kids who have no family support and few financial resources," said Gene Howard, the foundation's Executive Director and C.E.O.
The balance of the money will be used to purchase indoor/outdoor movie equipment plus arcade games for Orangewood Children's Home, the county's emergency shelter. Said Rick Bazant, Community Program Specialist at the Home, "ditech's gift will allow our children to have the same fun experiences that many of us had growing up - movie nights together indoors or out and the latest arcade games - for years to come."
ditech continues to support Orangewood in other capacities too. It recently hired another Orangewood former foster youth after General Manager, Mike McCarthy, heard the youth share his story of educational hurdles in pursuing a college education at the foundation's annual meeting. And as the sponsor of the golf ball drop contest at the recent KLOS Mark & Brian Golf Tournament, the company selected the foundation to be the recipient of the proceeds of the $100 entry fee. Orangewood received $59,000 from that event. In total, ditech's support of Orangewood has totaled almost $500,000.
SANTA ANA, California (June 21, 2005) - ditech, a leading direct mortgage lender, is continuing its long-time commitment to helping children in 2005 and beyond. The company has already made an immediate and significant difference this year by contributing approximately $300,000 to improve the lives of children locally and nationally.
"ditech continues to give back to the community by supporting causes that address the issues affecting our children today. We participate in a variety of events on both a grassroots and national level, and I am proud of the contributions ditech and its employees have made," said ditech General Manager Mike McCarthy. "I believe that organizations like Orangewood Children's Home and Dr. Phil Foundation are setting the standard for children's charities and I am happy that ditech can be a part of it."
Over the years, ditech has encouraged employees, vendors and partners to offer their time and financial contributions to important children's causes. Since the beginning of 2005, ditech has contributed to various children and related charities including:
COSTA MESA, California (April 4, 2005) - ditech, a leading direct mortgage lender, today announced the return of their nationwide Ultimate Racing Room contest. Beginning today, race fans and home decorating enthusiasts across the country can visit www.ditechracing.com and compete for the grand prize, valued at $50,000.
The ditech Ultimate Racing Room Challenge II contest runs from April 4 through May 31, 2005. To enter, contestants can visit ditechracing.com, create their own Ultimate Racing Room and submit their entry with a short description for consideration by a panel of judges. Each participant is automatically entered in a weekly sweepstakes to win an autographed die-cast replica of Vickers' No. 25 GMAC/ditech Chevrolet Monte Carlo. One grand prize winner will be chosen from all qualified entries to receive a $50,000 room remodel courtesy of ditech.
"Home improvement is an important growth driver for ditech, which makes the Ultimate Racing Room II contest a natural fit for our business," said ditech General Manager Mike McCarthy. "Last year's response was tremendous, with more than 100,000 existing and potential customers visiting the ditech website. I'm excited to bring the Ultimate Racing Room back to consumers again this year."
This year's Ultimate Racing Room features a new online room-building tool to make it even easier to create a room to enter, and provides more options to customize a room than ever before. Each week, ditechracing.com will also feature personal Ultimate Racing Rooms from Brian Vickers, Jeff Gordon and other Hendrick Motorsports drivers. Racing fans can visit the website to access exclusive downloads of Brian Vickers and the No. 25 GMAC/ditech Chevrolet.
"It was great being a part of the inaugural promotion and being able to provide my own ideas for the Ultimate Racing Room. ditech really delivered and I expect this year's contest to be even bigger and better," said Brian Vickers.
In 2005, ditech has again partnered with other GMAC business units to sponsor the No. 25 team. Vickers competed as a rookie in the NEXTEL Cup Series in 2004, ending the season with two pole positions and four top-10 finishes. The Thomasville, N.C., native joined Hendrick Motorsports in December 2002 and captured the 2003 Busch Series championship, becoming NASCAR's youngest-ever champion at age 20.
COSTA MESA, California (February 1, 2005) - ditech, a direct mortgage lender, today announced the $49 Flat Fee home equity loan. ditech, a leader of flat fee closing cost packages for home purchases and refinancing, is the first mortgage lender to extend the concept to home equity loans with the $49 Flat Fee. The $49 Flat Fee home equity loan allows consumers to quickly and easily borrow up to 100% of the equity they have built in their homes.
"The tremendous success of our $395 Flat Fee mortgage product for refinancing and home purchase has proved that there is a strong appetite for guaranteed closing cost products. That's why we've extended the Flat Fee concept to home equity loans with our $49 Flat Fee, allowing the consumer to have greater certainty at the closing table while leveraging the equity in their homes that they have worked so hard to build," said Mike McCarthy, general manager, ditech. "As consumers are increasingly looking to access the equity in their homes, ditech has made the process simple and affordable, allowing homeowner's to access capital for any needs they may have."
The $49 Flat Fee product allows borrowers to come to the closing table prepared, knowing the closing cost on their loan in advance. The average closing costs for other ditech home equity loans is approximately $444.81. According to Bankrate.com, home equity loan originations climbed 35% in 2004 to $431.3 billion. ditech's product is designed to meet this growing demand amongst homeowners for a simpler way to leverage their home equity. Common uses of home equity include consolidating debt, funding education, and making home improvements, all at a lower interest rate than is available with credit cards or other unsecured debt.
The $49 Flat Fee home equity product applies to home equity loans and owner-occupied single family residential properties. The $49 charge is assessed to cover the cost of the title search. The borrower is responsible for mortgage tax, appraisal fees that exceed $300, new loan interest costs, outstanding property liens, property taxes, property insurance, association fees, seller fees if any, optional owner's title insurance, and certifications. Homeowners interested in taking advantage of the $49 Flat Fee home equity product can visit www.ditech.com or call 1-800-873-7891.
Founded in 1995, ditech is a direct mortgage lender and a business unit of GMAC Mortgage. The company has grown into a full service corporation that provides home loans with competitive rates and the highest level of customer care to consumers nationwide. Headquartered in Costa Mesa, California, ditech is part of the General Motors family, offering the strength and stability that comes from one of the world's largest corporations.
SANTA ANA, California (August 4, 2004) - ditech, a direct mortgage lender headquartered in Costa Mesa, is helping Orange County abused children served by Orangewood Children's Foundation in a big way. The company is making an immediate and significant difference in the lives of these children. ditech's recent golf tournament raised $150,000 for Orangewood, one of the largest single corporate gifts received by the charity. The company has committed to making it an annual event for the foundation. In addition to the golf tournament, within the last year alone ditech has brought guest speakers to Orangewood Children's Home, invited foster teens to an employee luncheon and even created an internship for former foster youth.
The idea of a partnership with a local charity came from General Manager, Mike McCarthy. "As an organization, we had been supporting a variety of different charities. I felt that ditech could make more of a difference in the community if we focused our efforts. We decided to select a charity that was doing great things for kids and Orangewood Children's Foundation was an obvious choice for us. Because of their leadership in Orange County, Orangewood has been able to provide programs that set the standards for the rest of the nation."
Since that time last summer, ditech has rallied employees at all levels in the company and even vendors who have offered their time and financial contributions to the foundation. Said Gene Howard, Orangewood's Chief Executive Officer, "We have been delighted by the support ditech has shown to Orangewood and our kids. Their level of commitment has been incredible. They are a great example of the many ways a business or corporation can support a worthy cause."
ditech's support of Orangewood Children's Foundation has included:
Orangewood Children's Foundation, founded in 1981, is a private, nonprofit organization that provides an innovative array of programs and services for children in foster care, foster teens transitioning into independent adulthood and children at the Orangewood Children's Home, the county's emergency shelter for abused and neglected children. In addition, the Foundation offers special programs designed to strengthen at-risk families and break the generational cycle of abuse.
Founded in 1995, ditech is a direct mortgage lender and a business unit of GMAC Mortgage. The company has grown into a full service corporation that provides home loans with competitive rates and the highest level of customer care to consumers nationwide. Headquartered in Costa Mesa, California, ditech is part of the General Motors family, offering the strength and stability that comes from one of the world's largest corporations.
INDIANAPOLIS, Indiana (May 1, 2004) - ditech will launch its Ultimate Racing Room Challenge fan contest on Saturday, May 1 in support of Brian Vickers™ and the Hendrick Motorsports No. 25 GMAC Financial Services Chevrolet.
The Ultimate Racing Room Challenge provides homeowners the opportunity to use online tools available at www.ditechracing.com to design their own racing room and submit it along with a 50-word essay on why they deserve an Ultimate Racing Room in their home.
The contest will run from May 1 through Aug. 20 with a winner selected each month by an independent panel of judges. The panel will then choose a grand-prize winner from the four monthly nominees. That lucky fan will get an Ultimate Racing Room, designed by Vickers, built in their home.
The build-out of the room and a racing-themed party with Vickers will be filmed for airing on SPEED Channel in 2004. In addition, weekly winners will be chosen at random to receive prizes.
"Racing fans are going to have a blast designing their ultimate racing room," said Phil Armstrong, vice-president of marketing at ditech. "We've made the online room builder to be fast and easy. If you can drive a ‘mouse', you can create the ultimate racing room in a matter of minutes."
Commercials featuring Vickers and the No. 25 GMAC Chevrolet will air throughout the course of the Ultimate Racing Room Challenge, encouraging fans to log on to www.ditechracing.com and design their room, featuring one-of-a-kind items like a hood from the No. 25 car and a replica Vickers helmet.
"I think the Ultimate Racing Room Challenge is a great idea," Vickers said. "NASCAR fans are second to none when it comes to showing their support for their favorite driver and the sport.
"I'm looking forward to seeing what some of these designs look like and coming up with my own."
ditech will feature a new celebrity-designed room each month. Vickers will unveil his design May 1st.
ditech will also be participating in the Hendrick Fan Festival in 2004, celebrating 20 years of Hendrick Motorsports. The festival, which runs from May 26 through May 28, will allow fans up close and personal access to the Hendrick Motorsports complex. ditech will be on site to promote the Ultimate Racing Room Challenge and ditech's ability, through easy online loans, to make an Ultimate Racing Room a reality in any home.
In 2003, ditech sponsored Hendrick Motorsports driver Kyle Busch in the ARCA Series and NASCAR Busch Series. For 2004, ditech has partnered with other GMAC business units to sponsor Vickers as he competes in the NASCAR NEXTEL Cup Series. The Thomasville, N.C., native joined Hendrick Motorsports in December 2002 and captured the 2003 Busch series championship, winning three races and becoming NASCAR's youngest-ever champion at age 20.
Important Ultimate Racing Room Challenge Dates*
*All dates subject to change without notice