Ally Financial Inc Residential Capital unit is approaching insolvency, it was familiar with the situation on Sunday, in a move that could help the taxpayer – owned auto lender, shed its troubled mortgage business, but also an incentive protracted legal battle battles.
In the meantime, problems for the mortgage industry. In fall 2013, Ally was the first lender to identify problems with the handling of foreclosure documents report, resulting in a $. 25,000,000,000 settlement this year with Ally and four other lenders via so-called robo – signing Complaints about mortgage – backed securities have also stacked. Continue reading