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Ally Financial

U.S. Officially Ends The Auto Bailout, WIth A Profit

Reuters | Posted 02.18.2015 | Politics

(Adds details on timing of sale, share price movements) WASHINGTON, Dec 19 (Reuters) - The United States closed out its last big inves...

Well-Known Company Pays Up Over Charges It Discriminated Against Blacks

Reuters | Posted 02.19.2014 | Business

Dec 20 (Reuters) - Ally Financial Inc agreed to pay $98 million to settle allegations by federal regulators that it discriminated in auto lending ag...

Shahien Nasiripour

Banks Caught In How Many Mortgage Settlement Violations? | Shahien Nasiripour | Posted 06.19.2013 | Politics

The government-appointed monitor overseeing mortgage practices as part of last year’s robo-signing settlement between five big U.S. banks and dozens...

Ben Hallman

Ally Bank's Aggressive Campaign To Avoid Paying For Housing Crisis | Ben Hallman | Posted 04.11.2013 | Business

In most respects, Sandy Christine's is the story of the foreclosure crisis in full. The Wasilla, Alaska, resident and her husband both lost their j...

Ben Hallman

Mortgage Settlement Relief Fails To Reach Millions Of Foreclosed Homeowners | Ben Hallman | Posted 03.05.2013 | Business

Betsy Berry was worried she would lose her home just outside of New Orleans. Though she had never missed a payment on her mortgage, she says, Bank of ...

Back From the Vomitorium: The Looting of the Mortgage Settlement Agreement

Adam Levin | Posted 12.25.2012 | Money
Adam Levin

Politicians, not bankers, are the culprits this time around -- siphoning billions from that historic settlement and pumping it into their broken state budgets.

Warren Buffett Just Bet Almost $4 Billion That The Housing Market Will Recover

The Huffington Post | Alexander Eichler | Posted 06.18.2012 | Business

Warren Buffett seems pretty confident the housing market is making a comeback. How confident? Well, he just ponied up $3.85 billion for a mortgage...

Ben Hallman

Terrified Homeowner Faces $200,000 Bill At Age 100 | Ben Hallman | Posted 06.12.2012 | Business

If 76-year-old Gloria Schrager lives to be 100, she will get the worst birthday present ever: a bill from JPMorgan Chase for $199,052. Schrager was...

Ben Hallman

The Mortgage Mess: Just How Many Screwups Were There? | Ben Hallman | Posted 05.30.2012 | Business

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...

Mortgage Unit Of Government-Owned Lender Nearing Bankruptcy

Reuters | Posted 07.13.2012 | Business

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

Ben Hallman

Shocker: $25 Billion Mortgage Settlement Expires | Ben Hallman | Posted 05.03.2012 | Business

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...

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

Reuters | Posted 06.27.2012 | Business

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

Ben Hallman

Donovan To States: 'Do The Right Thing' With Mortgage Settlement | Ben Hallman | Posted 03.16.2012 | Business

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

There's No Need To Panic...

Reuters | Posted 05.14.2012 | Money

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

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

Reuters | Posted 05.13.2012 | Business

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

These Guys Just Can't Cut It

The Huffington Post | Mark Gongloff | Posted 05.13.2012 | Business

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 ...

Ben Hallman

Mortgage Investigation Consistently Hindered By Major U.S. Banks: Watchdog | Ben Hallman | Posted 03.14.2012 | Business

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

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

Chris Birk | Posted 04.22.2012 | Business
Chris Birk

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.

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

The Huffington Post | Alexander Eichler | Posted 02.09.2012 | Business

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...

Loren Berlin

Holdout States Massachusetts, New York, California, Delaware Reveal Their Share Of Foreclosure Deal | Loren Berlin | Posted 02.09.2012 | Business

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

Janell Ross

What The Mortgage Settlement Won't Cover | Janell Ross | Posted 02.09.2012 | Business

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

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

Anna Cuevas | Posted 03.19.2012 | Business
Anna Cuevas

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.

Loren Berlin

Frustrated Attorneys General Hold Secret Meetings On Foreclosures | Loren Berlin | Posted 01.13.2012 | Business

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

Bonnie Kavoussi

Bank Moves To Track Customer Locations, Raising Privacy Concerns | Bonnie Kavoussi | Posted 12.02.2011 | Business

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

Major Banks May Be Required To Cut Debt Owed By Homeowners

Posted 12.28.2011 | Business

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