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Aames Funding Corporation is based in Los Angeles, CA, and is also known as Aames Home Loan Corporation. They are a retail loan and broker company that provides sub-prime home mortgage equity loans. The company originates loans through its retail and broker office networks and through the Internet and telemarketing. Aames Funding is based in Los Angeles, California. The company is a subsidiary of Aames Financial Corp. and has no BBB profile or rating in spite of its alleged 68-year tenure as a business. They are listed in the Ripoff Report as a company that is designed to scam desperate homeowners that have gotten in over their heads by dangling unrealistic refinance possibilities and string the borrower along in order to extract fees for their “services.”

A Brand New Pitch

Ditech starts out by defining themselves as different than their previous identity. They claim to have changed but they never articulate how. This redefinition may very well be somewhat accurate, in that they have at least updated their business model. Their technology for loan application and pre-qualification has been updated. Their website is much more user friendly and the section of their website where they provide information about the process of applying for loans from start to finish. They are definitely making an attempt to be perceived as more transparent and honest than their previous image implied. They were initially one of the companies that was willing to set people up with loans they could not afford to pay.

A New Image is an Ad Campaign

Ditech’s new image may very well be a real reflection of their new business mission. They have a section that describes how to deal with them if they have bought your loan from another company. The fact that they are in the business of buying up loans from other lending institutions and seem to be more of a trading company rather than their claimed position of being an honest and trustworthy broker of home loans is somewhat disconcerting.