Ally selling collection rights on mortgages

Jessica Toonkel and Rick Rothacker, Washington Post Ocwen Financial is in the lead to buy a portfolio of mortgage-collection rights from Ally Bank worth about $1 billion, three people familiar with the situation said Thursday. The deal would help Ally, the bailed-out auto lender that is 74 percent owned by the U.S. government, raise money […]

WaMu Trustees Allege WaMu Collapse Caused by Goldman Short Selling Scheme

WaMu Trustees Seek Goldman Probe Dow Jones Newswires Trustees for creditors left unpaid after the biggest banking failure in U.S. history say they suspect Goldman Sachs Group Inc. (GS) of targeting Washington Mutual Inc., in a naked short-selling scheme. If those suspicions prove out, the alleged wrongs could translate into a damage award for those […]

U.S. Objects to Ocwen Buy of ResCap Loan

Dow Jones Newswires The U.S. is worried Ocwen Financial Corp. (OCN) won’t abide by a home-lending industry overhaul that was “designed to protect homeowners from future occurrences of mortgage-related abuse and fraud” when it takes over Residential Capital LLC’s servicing platform as part of a $3 billion deal. Papers filed in advance of a Nov. 19 […]

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