Business & Tech
Fort Washington Business Shuts Down, 101 Jobs Lost
The Montgomery County-based national headquarters of a much troubled home loan company are now closed down.
FORT WASHINGTON, PA — A business with former national headquarters in Fort Washington has shut down, causing the loss of 101 local jobs, according to a WARN Notice issued by the Pennsylvania Department of Labor and Industry.
Ditech Financial, a home loan company, has closed down its local operations after the company went bankrupt and was sold.
The company, which had been located on 1100 Virginia Drive in Fort Washington, shut down for good on Jan. 31.
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Ditech was plagued by multiple criminal and civil cases over accusations of unscrupulous business practices, including the arraignment of several prominent attorneys.
The company was purchased by New Residential Investment for $1.2 billion back in Oct. 2019, according to their website.
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