Former mortgage exec buys waterfront Boca Raton home

UPDATED, April 1, 11:35 a.m.: The former president and CEO of the mortgage servicing company Ditech Holdings Corp. snagged a waterfront home in Boca Raton for $7 million.

Thomas F. Marano bought the 11,264-square-foot house at 1281 Spanish River Road for $621 per square foot, records show. Richard and Diane Templer sold the property.

The gated home has 210 feet of water frontage and has a pool and patio with a spa, cabana and loggia. It was built in 2000 and sits on 1.56 acres.

Richard Templer owns the thoroughbred racing stable Doubledown Stables. In October, the Templers purchased a new 8,912-square-foot home at 190 Northeast 5th Avenue in Boca Raton for $12.2 million.

Carmen D’Angelo and Joe Liguori of Premier Estate Properties represented the buyer and the seller in the transaction at 1281 Spanish River Road. D’Angelo and Liguori also represented both sides of the sale of the property at 190 Northeast 5th Avenue.

Marano was appointed the CEO of Ditech Holdings in April 2018. Prior to working at Ditech he was CEO of Intrawest Resorts Holdings. Ditech was a home mortgage servicing company that faced mounting financial losses and legal troubles. The company filed for bankruptcy twice in 14 months and sold most of its assets to New Residential Investment Corp. for $1.2 billion in October, according to the news publication HousingWire.

Boca Raton has recently seen a slew of high-profile sales. In October, Robert Sheetz, the founder of the Sheetz convenience store and gas station chain, sold a waterfront estate at 133 West Coconut Palm Road in the Royal Palm Yacht & Country Club for $11.45 million.

In September, a group of executives tied to a West Palm Beach transportation company bought a 9,203-square-foot house at 300 East Key Palm Road in Boca Raton’s Royal Palm Yacht & Country Club for $12.1 million.