SINGAPORE/HONG KONG (Reuters) - Royal Bank of Canada and Credit Suisse are among suitors who have put in initial bids to buy the non-U.S. wealth management business of Bank of America in a deal that could be worth about $2 billion, sources said. Swiss bank Julius Baer was also keen to bid for some of BofA's units in Europe, the Middle East, Latin America and Asia excluding Japan, the sources
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RBC, Credit Suisse among bidders for BofA wealth units: sources
Posted by mortgage 5 days ago (Editorial)
UPDATE 1-RBC, C.Suisse among bidders for BofA wealth units-sources
Posted by mortgage 5 days ago (Editorial)
* Julius Baer also looked to bid for parts of assets -sources * Deal could be worth about $2 bln, less than earlierestimates * BofA in step with moves to shrink its business - analyst By Saeed Azhar and ...
Bankruptcy Aims To Free Ally of Bad Mortgage Assets After Auto Rescue
Posted by mortgage 7 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.
Ally not looking to sell U.S. auto lending: CEO
Posted by mortgage 7 days ago (Editorial)
(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
Ally Financial: Rescap Mortgage Subsidiaries File Chapter 11
Posted by mortgage 7 days ago (Editorial)
Ally Financial Inc.'s (GMA.XX) troubled mortgage subsidiary filed for Chapter 11 bankruptcy early Monday, potentially paving the way for Ally to sever itself from substantial litigation that has been a drag on its other operations and prevented it from repaying the remainder of its government bailout.
Sources: Ally Financial's mortgage unit nears bankruptcy
Posted by mortgage 8 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.
Former GM unit Ally sends mortgage unit into bankruptcy
Posted by mortgage 8 days ago (Editorial)
Ally Financial Inc., which still owes the government about two-thirds of the $17.2 billion in emergency loans it received as part of the General Motors Co.
Ally Financial's Mortgage Unit Reported To File Bankruptcy
Posted by mortgage 8 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.
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