Items Tagged with 'Ally Financial'


  • 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 Home Loans now offers Fannie's low down payment product

    Better serves first-time homebuyers
    Ally Home Loans, which is the newly created direct-to-consumer mortgage arm of Ally Bank, only jumped into mortgages at the end of last year, and it’s already broadening its suite of products. The mortgage company announced it will start offering Fannie Mae’s HomeReady mortgage loan to better cater to first-time homebuyers.
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  • Ally Bank gets back to mortgage lending big time

    Introduces its new Ally Home mortgage offering
    A few years after Ally Bank exited mortgage lending, it is now making its comeback as the bank re-enters the market in a much bigger way. The bank fell on hard times just after the housing crisis, but now announced its new home mortgage offering.
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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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  • Forbes: CFPB fails to protect consumers

    Bad rules, bad methodology plague bureau
    The Consumer Financial Protection Bureau’s rules for banks on mortgage lending have had a deleterious effect on lenders, but the problems extend far beyond the one-size-fits-all regulations.
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  • Ally Financial posts $423M net income in 3Q2014

    Mortgage operations see $3M loss
    Ally Financial reported net income of $423 million, or $0.74 per diluted common share, for the third quarter of 2014 compared to net income of $323 million, or $0.54 per diluted common share, in the prior quarter, and net income of $91 million, or a loss of $0.27 per diluted common share, for the third quarter of 2013.
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