Ally Financial

The Mortgage Mess: Just How Many Screwups Were There?

HuffingtonPost.com | Ben Hallman | Posted 05.30.2012

Read More: Foreclosure Crisis, Mortgage Settlement, National Mortgage Settlement, Gmac, Independent Foreclosure Review, Ally Financial, Business News

Trying to count the number of bank screwups during the foreclosure crisis is a little like guessing the amount of change in a huge jar: You can see th...

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Mortgage Unit Of Government-Owned Lender Nearing Bankruptcy

Reuters | Posted 05.14.2012

Read More: Video, Rescap Ally Financial Bankruptcy, Rescap-Bankruptcy-Ally-Financial, Rescap, Reuters, Ally Financial, Business News, Rescap-Bankruptcy, Gmac, GMAC Bailout, Business News

By Rick Rothacker and Paritosh Bansal NEW YORK, May 13 (Reuters) - Ally Financial Inc's Residential Capital unit is nearing a bankrupt...

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Shocker: $25 Billion Mortgage Settlement Expires

HuffingtonPost.com | Ben Hallman | Posted 05.03.2012

Read More: JP Morgan Chase, Foreclosure Crisis, Mortgage Settlement, Kamala Harris, California Attorney General, Wells Fargo, Ally Financial, Bank of America, Foreclosure, National Mortgage Settlement, Citigroup, Business News

The promises made by five of the nation's largest banks under the much-ballyhooed $25 billion mortgage settlement have a surprisingly short shelf life...

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Government-Owned Lender Could Lose Big Time In Unit's Bankruptcy

Reuters | Posted 04.28.2012

Read More: Rescap Bankruptcy, Video, Bankruptcy, Bankruptcy Filings, Government Owned Lender, Reuters, Ally Financial, Business News, Rescap Bankruptcy Ally Financial, Business News

* Rescap unit 'actively considering' bankruptcy-filing * ResCap unit may miss debt payments By Rick Rothacker ...

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Donovan To States: 'Do The Right Thing' With Mortgage Settlement

HuffingtonPost.com | Ben Hallman | Posted 03.16.2012

Read More: JPMorgan Chase, Video, Mortgage Settlement, Wells Fargo, Ally Financial, Bank of America, Shaun Donovan, Department of Housing and Urban Development, Citigroup, Business News

Alarmed by reports that states may divert mortgage settlement money intended to help homeowners, Housing and Urban Development Secretary Shaun Donovan...

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There's No Need To Panic...

Reuters | Posted 05.14.2012

Read More: JP Morgan, Stress Tests, Liquidity, Lending, Loans, Ally Financial, Bank Stress Tests, Reuters, Citibank, Bank Customers, Citigroup, Money News

By Lauren Young NEW YORK, March 14 (Reuters) - Bank customers shouldn't stress out over the latest U.S. bank stress test results. ...

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Big Banks To Pay Millions In Settlement With NY Over Mortgage Practices

Reuters | Posted 05.13.2012

Read More: JPMorgan Chase, Video, Mortgage Electronic Registration System, Citigroup Inc, New York State Attorney General Eric Schneiderman, Wells Fargo, Settlement, President Barack Obama, Reuters, Ally Financial, Mers, Foreclosure, Bank of America Corp, Business News

* JPM, BofA and Wells Fargo partially settle NY lawsuit * Citi, Ally Financial also part of $25 mln deal * Banks did not...

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These Guys Just Can't Cut It

The Huffington Post | Mark Gongloff | Posted 05.13.2012

Read More: Stress Tests Fed, Video, Stress Tests, Ally Financial, Citigroup Stress Tests, Citibank Stress Tests, SunTrust Stress Tests, Stress Tests Federal Reserve, Business News

All is not well with the Too Big To Fail set. Four of the biggest U.S. banks failed the latest round of Federal Reserve stress tests, the Fed said ...

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Mortgage Investigation Consistently Hindered By Major U.S. Banks: Watchdog

HuffingtonPost.com | Ben Hallman | Posted 03.14.2012

Read More: JPMorgan Chase, Inspector General, Robo-Signing, Loan Servicers, Wells Fargo, Ally Financial, Bank of America, Foreclosure, HUD Investigation, Citigroup, Business News

The five banks that agreed to a $25 billion settlement to resolve fraudulent foreclosure claims consistently hindered a government watchdog's investig...

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Mortgage Giants Agree to Pay Servicemembers for Illegal Foreclosures, Rate Hikes

Chris Birk | Posted 04.22.2012

Read More: JP Morgan, Wells Fargo, Ally Financial, Bank of America, Thomas E. Perez, Gao, Servicemembers Civil Relief Act, Citigroup, Military Homeowner, Military Home Foreclosures, Business News

Military homeowners who were illegally foreclosed upon during the last five years will receive a minimum payment of nearly $117,000 plus lost equity and interest.

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SEC May Target Big Banks In Lawsuit Over Mortgage-Backed Securities

The Huffington Post | Alexander Eichler | Posted 02.09.2012

Read More: Deutsche Bank, Goldman Sachs, Merrill Lynch, JPMorgan Chase, Video, Housing Bust, Subprime Mortgages, Housing Crash, Subprime Mortgage Crisis, Ally Financial, Bank of America, Mortgage Crisis, Mortgage-Backed Securities, Housing Crisis, Citigroup, Business News

Regulators may be preparing a lawsuit against some of the country's largest banks in order to probe their role in the acceleration of the financial cr...

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Holdout States Massachusetts, New York, California, Delaware Reveal Their Share Of Foreclosure Deal

HuffingtonPost.com | Loren Berlin | Posted 02.09.2012

Read More: JPMorgan Chase, Video, Foreclosure Crisis, Kamala Harris, Eric Schneiderman, Robo-Signing, Wells Fargo, Ally Financial, Bank of America, Mortgage Fraud, Foreclosure, National Foreclosure Settlement, Citigroup, Martha Coakley, Business News

The five states that most actively resisted a settlement with banks over charges of widespread mortgage fraud announced their cut of the nationwide de...

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What The Mortgage Settlement Won't Cover

HuffingtonPost.com | Janell Ross | Posted 02.09.2012

Read More: West Palm Beach, Mortgage Settlement, Robo-Signing, Florida Foreclosures, Mortgage Settlement Deal, Ally Financial, Hud, Florida, Foreclosure, Gmac, Foreclosure Fraud, Video, Business News

On September 25, 2010, Monica and Ricardo Zapata should have been out celebrating their tenth wedding anniversary, or enjoying a candlelight dinner in...

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Two Key States To Join National Mortgage Deal

AP | DEREK KRAVITZ | Posted 04.08.2012

Read More: Foreclosure Crisis, Arizona Attorney General Tom Horne, Wells Fargo, Ally Financial, Bank of America, Housing Crisis, Attorney General Pam Bondi, Foreclosure Settlement, Mortgages, JPMorgan Chase, Video, California Attorney General Kamala Harris, Foreclosure, Foreclosure Abuse, Massachusetts Attorney General Martha Coakley, Citigroup, Business News

WASHINGTON — Arizona, Michigan and Florida, three of the states hit hardest by the housing crisis, will join a nationwide settlement over forecl...

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HAMP's Second Lien Modification Saves Fewer Than 50% of Second Mortgages

Anna Cuevas | Posted 03.19.2012

Read More: Save Your Home, JPMorgan Chase, Hamp, Loan Modifications, Mortgage Modification, Wells Fargo, Anna Cuevas, Ally Financial, Mortgage Crisis, Bank of America, Second Lien Mortgages, Second Mortgages, Citigroup, Business News

Through the 2MP initiative, services of second mortgages have the option to modify the lien or to extinguish it -- which is an admission that the mortgagor is not likely to be repaid for the second mortgage, and they clear their interest in the property by filing a lien waiver.

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Frustrated Attorneys General Hold Secret Meetings On Foreclosures

HuffingtonPost.com | Loren Berlin | Posted 01.13.2012

Read More: Foreclosures, JPMorgan Chase, Beau Biden, Kamala Harris, Robo-Signing, Robo-Signers, Eric Schneiderman, Wells Fargo, Robosigning, Ally Financial, Bank of America, Foreclosure, Citigroup, Foreclosure Settlement, Business News

Attorneys general or representatives from nearly 15 states met in Washington, D.C., on Tuesday to discuss and share different enforcement options and ...

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Bank Moves To Track Customer Locations, Raising Privacy Concerns

HuffingtonPost.com | Bonnie Kavoussi | Posted 12.02.2011

Read More: Google, Financial Industry, Video, Chrome, Google Chrome, Ally Financial, Ally Bank, Online Tracking, Online Privacy, Location Tracking, Safari, Privacy, Business News

A major U.S. bank is now tracking customer locations, raising concerns about online privacy. Ally Financial now requests to track the locations of ...

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Major Banks May Be Required To Cut Debt Owed By Homeowners

Posted 12.28.2011

Read More: Tea Party Movement, JPMorgan Chase, Video, Ank of America, Freddie Mac, Wall Street, Robo-Signing, Wells Fargo, Ally Financial, Mortgage Crisis, Banks, Fannie Mae, Foreclosure, Housing Crisis, Citigroup, Business News

(Aruna Viswanatha and Rick Rothacker) - A controversial weapon could be deployed soon in the U.S. fight against the housing crisis as states and t...

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Kentucky AG Backs New York's Schneiderman In National Foreclosure Settlement Talks

HuffingtonPost.com | William Alden | Posted 11.22.2011

Read More: Wells Fargo, Ally Financial, Economic Crisis, Mortgage Crisis, Bank of America, New York, JPMorgan Chase, Beau Biden, State Attorneys General, Attorneys General, Eric Schneiderman, Business News, Jack Conway, Kentucky, Foreclosure, Citigroup, Business News

NEW YORK -- Kentucky Attorney General Jack Conway has added his name to a list of state law enforcers who fear that a settlement being negotiated amon...

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Minnesota Attorney General Backs New York's Eric Schneiderman In Foreclosure Talks

HuffingtonPost.com | William Alden | Posted 11.13.2011

Read More: Lori Swanson, JPMorgan Chase, Eric Schneiderman, Wells Fargo, Ally Financial, Economic Crisis, Mortgage Crisis, Bank of America, Business News, Financial Crisis, Foreclosure, Citigroup, Video, Business News

NEW YORK -- As government officials work to settle claims that the nation's biggest banks illegally foreclosed on American homeowners, Minnesota Attor...

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U.S. Banks Reportedly Offered Deal On Improper Mortgage Practices

Posted 11.06.2011

Read More: Mortgage Investigation, JPMorgan Chase, Foreclosure Crisis, Illegal Foreclosures, Wells Fargo, Ally Financial, Mortgage Crisis, Bank of America, Banks Mortgage, Wrongful Foreclosures, Citigroup, Video, Business News

Big U.S. banks in talks with state prosecutors to settle claims of improper mortgage practices have been offered a deal that may limit their legal...

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WATCH: Senior Obama Administration Official Says Government Hasn't Sufficiently Probed Foreclosure Abuses

HuffingtonPost.com | Shahien Nasiripour | Posted 09.14.2011

Read More: Elizabeth Warren, Video, Foreclosure Crisis, Kamala Harris, Elizabeth Warren Foreclosure Investigation, Wells Fargo, Elizabeth Warren Foreclosures, Ally Financial, Bank of America, Preemption, Jamie Dimon, Mortgage Investigation, Elizabeth Warren Obama, JPMorgan Chase, State Attorneys General, Foreclosure Investigation, Citigroup, Business News

WASHINGTON -- A top Obama administration official on Thursday questioned the scope of the state and federal investigations into alleged mortgage abuse...

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Regulators Scrutinizing Mortgage Lawsuits Against Banks

HuffingtonPost.com | Shahien Nasiripour | Posted 09.05.2011

Read More: Fdic Bank Capital, Foreclosure Crisis, Wells Fargo, Ally Financial, Bank of America, Foreclosure Fraud, Mortgage-Lawsuits, Mortgage Investigation, JPMorgan Chase, Federal Deposit Insurance Corporation, Mark Pearce Fdic, Foreclosure Lawsuits, Foreclosure Investigation, Citigroup, Mark-Pearce, Video, Business News

WASHINGTON -- Federal bank regulators are scrutinizing more than 150 home loan-related lawsuits directed at lenders and mortgage companies, a top offi...

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Mortgage Fraud Jumped Nearly One-Third In First Months Of Year

The Huffington Post | Alexander Eichler | Posted 08.29.2011

Read More: Treasury Department, Mortgages, JP Morgan, California, Fincen, Wells Fargo, Ally Financial, Bank of America, Mortgage Fraud, Financial Crimes Enforcement Network, Citigroup, Business News

Years have passed since the housing crisis first brought the U.S. economy to the brink, but reports of mortgage fraud are only increasing, up 31 perce...

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Ally Financial Investigated For Mortgage Fraud

Associated Press | Posted 08.29.2011

Read More: Mortgages, 2008 Financial Crisis, Subprime Mortgages, Government Bailout, General Motors, Ally Financial, Mortgage Crisis, Detroit, Government-Ownership, Business News

DETROIT (AP) -- Ally Financial says it has received subpoenas from federal investigators looking into mortgage fraud. The company also says it will...

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