Relevant:
- Ally Financial's ResCap Wants to End Foreclosure Review Process
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- Buffett pushes to protect Wells Fargo stake
- Michael Olenick: Schadenfreude Alert -- Banks Paying Extortionate Fees for Foreclosure Reviews
- Fortress sets $3 billion purchase of Ally assets, ResCap
2013-06-27 — americanbanker.com
``The former subprime mortgage unit of Ally Financial has received approval to enter into an agreement with the Federal Reserve Board that would end regulatory review of its foreclosure practices, Judge Martin Glenn of the U.S. Bankruptcy Court in Manhattan ruled on Wednesday.
The ruling means that ResCap, which has operated under bankruptcy protection since last year, would join 10 mortgage servicers that agreed in January to pay a combined $8.5 billion to end similar reviews.''
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