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2016: Second on Bank Director's list of best-performing medium-sized banks (between US$5 billion and US$50 billion in assets) [17] 2016: No. 31 on the Fortune 100 list of 100 Fastest-Growing Companies based on revenue and earnings per share growth and annualized returns over the past three years [18]
McLeodUSA was founded by Clark McLeod in 1991. [1] The company went public in 1996. [1] In January 2002, it filed for Chapter 11 protection, emerging from bankruptcy in April the same year.
The company's name was derived from the phrase “direct technology.” [3] [4] DiTech became one of the first lenders to offer mortgages to the public online and via a toll-free number. [3] In April 1995, Reddam began originating, selling, and servicing mortgage loans tied to the prime interest rate .
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The company filed for Chapter 11 in the U.S. Bankruptcy Court in the Southern District of New York on 18 February 2009, with $2.23 billion in total debt and $1.76 billion in total assets as of 30 September. The filing included only the company's U.S. operations.