Ditech, one of the most visible brands in mortgage lending a decade ago, is looking to become a major presence in the market once again.

The company, which recently announced its re-entry into the home lending market, today announced a menu of products it will be offering, including fixed-and adjustable-rate mortgages, including several designed to offer lower monthly payments or targeted at borrowers with low credit scores or seeking loans with high debt-to-income ratios.

"One of the great ironies of the real estate industry is that buying a home is one of life's most joyful and memorable experiences - but getting a mortgage loan can be anything but," said Patti Cook, President of DT Holdings, parent company of ditech. "Ditech's goal is to change all of that, by becoming a trusted partner that our Customers can count on."

The company identifies itself as "ditech," deliberately using the lower case "d."

Will offer online, retail and correspondent lending

Its products will be marketed through three sales channels for both home purchase loans and mortgage refinancing. These include direct-to-consumer lending, both online and through an 800-number; retail lending through 200 loan specialists nationwide; and a correspondent lending program in concert with more than 600 financial institutions.

Offerings will include initiatives such as MyCommunityMortgage, offering both fixed-rate and adjustable-rate mortgages to borrowers with nontraditional credit and conforming loan limits, including credit scores as low as 620 and debt-to-income ratios as high as 50 percent, with down payments as low as 5 percent.

Other programs include an FHA loan offering with flexible terms, Freddie Mac loans with reduced lender fees and a program designed to qualify borrowers for larger loan amounts with lower monthly payments.

Change of ownership

Ditech was one of the most prominent names in mortgage lending during the years of the housing boom, promoting itself through a high-profile advertising campaign featuring other lenders complaining they'd "lost another loan to ditech."

However, the company became heavily involved in subprime lending during the boom years of the early 2000s and suffered heavy losses in the crash that followed. Its parent company, Ally Financial (formerly known as GMAC) eventually exited the mortgage business and sold the brand to new owner Walters Investments/Greentree Originations, under which it is seeking to re-establish itself in the home loan market.