Judge Denies Request for ResCap Borrowers’ Panel

Fox Business via Dow Jones Newswires Homeowners with a gripe against Residential Capital LLC won’t have an official voice in the company’s bankruptcy, a judge said Tuesday. Judge Martin Glenn of the U.S. Bankruptcy Court in Manhattan turned down a bid for the appointment of an official committee to represent borrowers in the Chapter 11 […]

Homeowners Want Their Own Committee in ResCap Bankruptcy

Dow Jones Newswires Homeowners with mortgages serviced by Residential Capital LLC want to form an official committee in the company’s bankruptcy case, which would give them a louder voice in the company’s complicated Chapter 11 proceedings. In a Friday filing with U.S. Bankruptcy Court in Manhattan, a lawyer for the group of homeowners said they’re […]

Ally Financial Throws In Towel, No More Mortgages

Ally to wind down mortgage business after ResCap sale Jon Prior, Housing Wire Ally Financial will look to sell off the rest of its mortgage business after bankruptcy concludes for its independent subsidiary Residential Capital. In a conference call with investors Tuesday, Ally executives said they plan to sell an additional $1.3 billion in mortgage servicing […]

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