Learn how to request ditech subordination requirements.
What is subordination and why do I need it?
If you want to refinance your home and you have more than one mortgage or lien on your property, you might need a subordination agreement.
What are first liens and second liens?
A person looking to buy a home typically applies to a bank or mortgage company (the “lender”) for a loan. Their loan is a called a mortgage or mortgage loan. The lender accepts the purchased property as collateral for the mortgage loan.
Home buyers sign a mortgage document during closing that a county clerk files in the county land records. This recorded mortgage allows the lender to claim “first mortgage” or “first lien” against the property in case of default.
At some point, if the home buyer has enough equity in the property, he or she may seek another loan using the house or property as collateral. In that second loan closing, the county clerk enters a new mortgage document into the county land records. With this new loan agreement, the lender acquires a “second mortgage” or “second lien” against the property. Now the homeowner has both a first mortgage and a second mortgage on the property.
How to request a ditech subordination package.
To obtain requirements specific to your home loan, enter your ditech account number in our online subordination tool.
Depending upon the state in which you reside, there may be a $200.00 processing fee and a $100.00 re-processing fee. Please refer to the requirements for your loan for more specific information and any exceptions to the processing fees.
How long does it take ditech to process the subordination request?
Generally, it takes 10-15 business days after we receive a complete ditech subordination package. Submitting an incomplete package will delay the process. We’ll notify you if there are issues with your package. Please allow us 10-15 business days to process your subordination package before you contact us at 1-800-643-0202.
Send your package via U.S. mail to:
Ditech Financial LLC
2100 East Elliot Road, Bldg 94, T-316
Tempe, Arizona 85284
Note: We don’t accept packages delivered via fax or courier.