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Ditech Holding unit sells certain mortgage loans, mortgaged properties

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Ditech Holding unit sells certain mortgage loans, mortgaged properties

Ditech Holding Corp. unit Reverse Mortgage Solutions Inc. sold certain mortgage loans and properties to Reverse Mortgage Funding LLC for $241 million.

Specifically, Reverse Mortgage Solutions sold a portfolio of home equity conversion mortgage loans that it earlier repurchased from Ginnie Mae mortgage loan pools, mortgaged properties acquired through foreclosure, deed in lieu of foreclosure or other realization procedure, and advances related to the home equity conversion mortgage loans and the mortgaged properties.

The purchase price included a negotiated holdback amount.

Reverse Mortgage Solutions will continue to service the home equity conversion mortgage loans and the mortgaged properties on behalf of Reverse Mortgage Funding.