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FORT WASHINGTON, Pa. , Dec. 2, 2011 /PRNewswire/ -- GMAC Mortgage, the mortgage origination and servicing operation of Ally Financial Inc., today announced that it will cease purchasing new mortgage loans in the Commonwealth of Massachusetts ...

GMAC Mortgage Ceases Certain Mortgage Loan Production in Massachusetts

NEW YORK (AP) -- One day after it was among five major banks sued by Massachusetts over deceptive foreclosure practices, GMAC Mortgage said Friday that it will stop purchasing new mortgage loans written by third parties in the state. The ...

GMAC ends most Mass. mortgage lending after suit

On Friday, GMAC Mortgage, the mortgage origination and servicing operation of Ally Financial Inc., announced that it would stop purchasing mortgage loans from the third party in Massachusetts. However, the company would honor all its contractual ...

GMAC Exits Mortgage Loans

Ally Financial’s GMAC Mortgage says it will stop doing business with third-party lenders in Massachusetts. The announcement was made just one day after the state’s attorney general said she has filed a lawsuit against GMAC and four other ...

GMAC Counters Lawsuit with Decision to Pull Lending in Massachusetts

Units of Ally Financial Inc., the auto and home lender that received a government bailout, were sued by Financial Guaranty Insurance Co. for allegedly misrepresenting the quality of mortgage loans underlying securities that Financial Guaranty ...

Ally’s GMAC Is Sued by Insurer Over $1.2 Billion in Mortgage Securities

(Updates with BofA comment, cost of foreclosure review starting in the 13th paragraph.) Dec. 2 (Bloomberg) -- Ally Financial Inc.’s GMAC Mortgage unit will stop buying home loans in Massachusetts after the state accused the five biggest ...

Ally Financial Will Halt Mortgage Purchases in Massachusetts

AUGUSTA, Maine — Maine’s highest court has declined to find GMAC Mortgage in contempt for signing off on a home foreclosure without first verifying documents — a practice often referred to as “robo-signing.” In a 5-1 decision on ...

GMAC faces no sanctions for signing foreclosure without verifying documents

Tensions between GMAC mortgage and Attorney General Martha Coakley escalated late Friday, with the lender and the state’s top law enforcement officer exchanging harsh statements after sparring in recent days in less-personal ways. On Thursday ...

Coakley-GMAC battle heats up

Gen. Martha Coakley claims that Bank of America Corp., Wells Fargo & Co., JPMorgan Chase & Co., Citigroup Inc. and GMAC Mortgage used fraudulent documentation in the foreclosure processes, took back homes without showing they owned the actual mortgages ...

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