Ex-Ditech Execs Launch Lendability.com

Two former Ditech.com executives have announced the launch of Lendability.com, an online mortgage lender based in Scottsdale, Ariz., that aims to be "the leader in both cost and transparency." Paulo La Greca, the new venture's chief executive officer, said the company plans to be in all 50 states by the summer of 2009. Brent Kirk, its chief operating officer, said other online lenders "got carried away with their businesses" by getting heavily involved in subprime mortgages. He said "everything is upfront" at Lendability.com, including rates, fees, and consumer options. Several other former executives at Ditech.com, Costa Mesa, Calif., have joined the company and will remain in Southern California to head up Lendability.com's satellite operations there. The company can be found on the Web at http://www.lendability.com.