0 minute readGovernment-owned lender Ally Financial Inc. is sparring with its Residential Capital mortgage subsidiary over the unit’s efforts to get out of a federal foreclosure-review program.
ResCap, which is in Chapter 11 bankruptcy, said Ally would be on the hook for any amount of restitution the Federal Reserve is unable to recover from ResCap under the terms of an agreement Ally entered into with the U.S. government in 2011, according to a filing in U.S. Bankruptcy Court Friday.
Articles written by HousingWire Staff are non-bylined, and typically involve press release coverage and aggregation of coverage appearing elsewhere. So who put all these together? Our entire staff does!see full bio
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Articles written by HousingWire Staff are non-bylined, and typically involve press release coverage and aggregation of coverage appearing elsewhere. So who put all these together? Our entire staff does!see full bio
