NEW YORK -- Mortgage marketer DiTech Funding Corp., Irvine, Calif., has shifted its $50-million media buying account to GM Mediaworks, Warren, Mich., from Carat, L.A., the client confirmed, and has launched a review for its media planning business, which had also been handled by Carat.
DiTech, owned by General Motors, considered Carat's acquisition of the $400 million Hyundai/Kia U.S. media buying and planning business last month to be a conflict. Rick Gillespie, chief marketing officer for Horsham, Penn.-based GMAC Residential Mortgage, which oversees the DiTech operation, said that GM's planning agency, GM Planworks, Troy, Mich., is one of the shops that have been invited to compete in what he called "a limited review" for the planning account. Gillespie said that the client hopes to make a decision within a month.
The client uses several creative resources on a project basis.