Ally Puts ResCap In Bankruptcy, Sells Servicing Assets

Ally Financial has placed its Residential Capital unit in bankruptcy, and has agreed to sell ResCap’s mortgage-servicing assets to Nationstar for $2.5 billion.

  • 14 May 2012
Ally Financial has placed its Residential Capital unit in bankruptcy, and has agreed to sell ResCap’s mortgage-servicing assets to Nationstar for $2.5 billion. The move is seen as an effort by Ally to deal with its toxic loans, a move that other banks may follow if Ally is ...

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5 Lloyds Bank 3,615 14 6.15

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