(Reuters) - Ally Financial is "absolutely not" looking to sell its core U.S. auto lending business as it seeks ways to pay back $12 billion it owes to U.S. taxpayers after a government-funded bailout during the financial crisis, the company's CEO said Tuesday. Ally, the former in-house financing arm for General Motors Co , on Monday announced plans to sell some international operati
Published News » Subprime Mortgage
Ally not looking to sell U.S. auto lending: CEO
Posted by mortgage 5 days ago (Editorial)
Bankruptcy Aims To Free Ally of Bad Mortgage Assets After Auto Rescue
Posted by mortgage 5 days ago (Editorial)
Ally Financial, which still owes the government about two-thirds of the $17.2 billion in emergency loans it received as part of the General Motors and Chrysler rescues, nudged its residential mortgage subsidiary into Chapter 11 bankruptcy today to shed toxic mortgage-related securities.
Standard & Poor's Revises American Home Mortgage Servicing, Inc. Outlook to Positive
Posted by mortgage 17 days ago (Editorial)
DALLAS, May 3, 2012 /PRNewswire/ --
Ally?s Residential Capital Files for Bankruptcy Protection
Posted by mortgage 6 days ago (Editorial)
Residential Capital LLC, the unprofitable mortgage company whose parent Ally Financial Inc. (ALLY) is trying to repay a U.S. government bailout, filed for bankruptcy.
Ally Financial's Mortgage Unit Reported To File Bankruptcy
Posted by mortgage 6 days ago (Editorial)
Ally Financial Inc's Residential Capital unit is nearing a bankruptcy filing, sources familiar with the situation said on Sunday, in a move that could help the taxpayer-owned auto lender to shed its troubled mortgage business but also spur drawn-out legal fights.
Sources: Ally Financial's mortgage unit nears bankruptcy
Posted by mortgage 6 days ago (Editorial)
NEW YORK (Reuters) - Ally Financial Inc's Residential Capital unit is nearing a bankruptcy filing, sources familiar with the situation said on Sunday, in a move that could help the taxpayer-owned auto lender to shed its troubled mortgage business but also spur drawn-out legal fights.
Mercury News interview: Paul Leonard, Center for Responsible Lending
Posted by mortgage 8 days ago (Editorial)
Center director forecast housing market's bubble before bust in 2007
Former subprime lender ResCap files for Ch. 11
Posted by mortgage 5 days ago (Editorial)
Residential Capital L.L.C., which was a big subprime mortgage lender and still employs 1,385 in Fort Washington, filed for bankruptcy protection in New York on Monday.
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