ResCap listed assets of $15.7 billion and debt of $15.3 billion in a petition filed today in U.S. Bankruptcy Court in Manhattan . ResCap?s Chapter 11 filing is the biggest so far this year, based on liabilities, according to data compiled by Bloomberg.
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Ally?s ResCap Files Bankruptcy, Plans Sale to Fortress
Posted by mortgage 4 hours ago (Editorial)
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.
Former GM mortgage unit files for bankruptcy in the US
Posted by mortgage 7 days ago (Editorial)
ResCap, the subprime mortgage lender that was once owned by the US car giant General Motors, filed for bankruptcy protection yesterday in a move that is expected to help its parent company, Ally Financial, focus on its main car lending business and put together a plan to pay back billions to US taxpayers.
Ally Financial's mortgage unit files for bankruptcy
Posted by mortgage 8 days ago (Editorial)
Ally Financial Inc's mortgage unit on Monday filed for bankruptcy and the auto lender said it will sell some international operations to help it get on a path to repaying US$12-billion in bailout money
Ally hopes to end mortgage woes with ResCap bankruptcy
Posted by mortgage 8 days ago (Editorial)
Ally Financial Inc's mortgage unit on Monday filed for bankruptcy and the auto lender said it will sell some international operations to help set it on a path to repaying $12 billion in bailout money. ...
Ally Financial's Residential Capital mortgage unit files for bankruptcy, will sell most of its assets
Posted by mortgage 8 days ago (Editorial)
Phil Milford, Steven Church and Dakin Campbell Bloomberg News - Residential Capital LLC , the unprofitable mortgage company whose parent, Detroit-based Ally Financial Inc. , is trying to repay a U.S.
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.
US-owned Ally's mortgage unit files bankruptcy
Posted by mortgage 8 days ago (Editorial)
Troubled US Treasury-owned lender Ally Financial said Monday its was placing its mortgage unit into bankruptcy protection as the government seeks to reduce loss risks from a major $17 billion crisis-era bailout.
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