Ally Securities, the broker dealer subsidiary of Ally Financial, recently decided to exit its mortgage-related broker dealer activities, and will wind down that operation in an orderly manner over the coming weeks, according to a message emailed to HousingWire. 

All existing trades will be honored.

“These activities are no longer strategic for Ally, and as a result it will refocus resources, capital and attention toward initiatives that more directly support the key franchises,” said the email. “Ally continually evaluates its business activities and makes modifications as appropriate.”
 
Ally Securities will continue to conduct the broker-dealer activities related to its insurance business, the email said.

jgaffney@housingwire.com

Most Popular Articles

Realtors expect these to be the 10 hottest housing markets for the next 3-5 years

Here are the 10 housing markets that the National Association of Realtors expects to the hottest in the nation in the next three to five years.

Dec 11, 2019 By

Latest Articles

Gateway First Bank makes two key hires

Gateway First Bank made back-to-back announcements this week regarding two key hires. The bank welcomed Joell Maddox as director of treasury services and Thomas Ramm joined as chief investment officer.

Dec 12, 2019 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please