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28 December 2010 ~ Comments Off

Ally Financial To Pay $462 Mln To Settle Fannie Mae Repurchase Claims – Update

Business loans

Auto and home lender Ally Financial Inc. (GJM), formerly known as GMAC, said Monday that its mortgage unit, Residential Capital LLC reached a $462 million settlement to resolve repurchase claims by mortgage giant Fannie Mae (FNMA.OB) on $292 billion in home loans.

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