Items Tagged with 'Ally'

ARTICLES

  • Ally Financial partnering with Better.com to launch digital mortgage platform

    Ally now fully back in the mortgage space
    Ally Financial, which all but exited the mortgage business back in 2012, got back into mortgages in earnest in 2016. Now, Ally is taking its mortgage business to the next level by going digital with help from Better.com (formerly known as Better Mortgage). Ally and Better announced Thursday that the companies are partnering to launch a digital mortgage platform for Ally.
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  • Fed fines another 5 banks $35.1 million for mortgage servicing and foreclosure infractions

    These big banks yet to be penalized
    On Friday, the Federal Reserve Board announced another $35.1 million in civil penalties against five banks as part of its effort to terminate enforcement actions, issued in 2011 and 2012, against a total of 10 banks related to residential mortgage loan servicing and foreclosure processing.
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  • Welcome home: Ally steadily grows mortgage business

    Posts increase in mortgage finance revenue
    After stepping away from the mortgage side of the business back in 2012, Ally Financial is showing steady progress back into the space as it redevelops the business. With less than a year under Ally Home Bank’s belt, here’s the latest pulse on how the business is doing.
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  • Ally Bank offers 0.125% interest rate discount to entice new mortgage customers

    Offer available to “all customers for all loan products, term lengths and loan sizes”
    Mortgage interest rates ticked up slightly in the last week, per the latest data from Freddie Mac, but for most of 2017, rates have trended down. But with rates still above where they were last summer, one lender is offering borrowers a discount on their interest rate to try to earn their mortgage business.
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  • Ally Financial to pay $52 million in ResCap toxic mortgage bond settlement

    Marketed subprime RMBS deals knowing quality of mortgages
    Ally Financial will pay $52 million to settle allegations that one of its subsidiaries, Residential Capital (also called ResCap), knowingly marketed mortgage bonds despite the fact that the underlying mortgages were toxic. Under the terms of the settlement agreement, Ally Securities, formerly known as Residential Funding Securities, will immediately discontinue operations and be de-registered as a broker-dealer as an acknowledgment of the improper conduct.
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  • Ally Financial getting back into mortgage business

    Two years after dropping mortgages completely
    Two years after being completely driven from the mortgage business due to the losses suffered by its former subsidiaries, GMAC Mortgage and Residential Capital, also known as ResCap, Ally Financial is getting back into mortgages.
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  • Treasury readies Ally initial public offering

    The beginning of the end
    Once a major player in the mortgage market, the automotive finance company and bank holding company will be traded on the New York Stock Exchange under the ticker ALLY. But will the Treasury make its money back on its investment?
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