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Latest GMAC News
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AIG Bailout Leads to $17.7 Billion Government Profit After TARPbillion loss when it completes its exit from the car companies. TARP invested $80 billion in General Motors, Chrysler and GMAC , now known as Ally. To date, the government has recovered about half, or $41 billion, from the auto companies. The Obama
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Is Richard Cordray the New Elizabeth Warren?rescue scam operations, as well as major financial powerhouses including Bank of America for allegedly misleading investors , and GMAC for filing forged documents in court that may have helped the company foreclose on homeowners illegally. He also sued the
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Obama Sidesteps Elizabeth Warren, Picks Richard Cordray to Lead Consumer Financial Protection Bureau
Attorney General Cordray earned a reputation for staunch regulation of banks during the financial crisis. In October 2010 he GMAC Mortgage and their parent company Ally Financial for what he claimed were fraudulent foreclosure practices. The lawsuit alleged
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Major banks told to review foreclosures
to the consent orders, the banks neither admitted nor denied wrongdoing. The other companies were: Ally Financial (formerly GMAC ), Aurora Bank, EverBank Financial, HSBC, MetLife, OneWest, PNC, Sovereign Bank, SunTrust Banks and U.S. Bancorp. Actions were also
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Report: Government Bailout Had No Lasting Impact On Bank Paybased in New York; Chrysler Group; Chrysler Financial; General Motors, based in Detroit; and Ally Financial, formerly GMAC , also based in Detroit. Feinberg is a lawyer best known for determining payouts to families of victims of the Sept. 11, 2001
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Homeowners use 'show me the note' to fight foreclosure
have said that any mistakes were minimal and can be remedied. In October, several firms, including Bank of America bac and GMAC Mortgage, temporarily halted some foreclosure sales to check procedures. The industry also has defended the practice of bundling
News
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New Threat to Banks: Mortgage Security 'Put Backs'?Treasury still has a $17.2 billion investment in GMAC , one of the servicers named in the robosigning scandal the Treasury Department is regularly in touch with GMAC 's management. GMAC , she said, is working "promptly" to correct documentation
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Obama Administration Concerned about Foreclosure Fraud, but Review Shows No Systemic Problems So Far
on fraudulent documentation. A handful of banks froze foreclosure proceedings, but now some banks such as Bank of America and GMAC Mortgage have ended their suspensions. The Financial Fraud Enforcement Task Force has been looking into the issue, reportedly
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Bank of America to Lift Foreclosure Freeze in 23 States Next Weekthem, that sounds like the way out of a tunnel." In recent weeks, major lenders such as JPMorgan Chase, Ally Financial's GMAC Mortgage unit and Bank of America have conceded that paperwork supporting an unknown number of foreclosures contain errors ranging
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Foreclosure Rate Drops in October Following Robo-Signing ControversyAfter foreclosures hit a record high in September, the number of properties seized dipped below six figures for the month of October, and the number of properties that received foreclosure notices also declined slightly. Lenders took back 93,236 housing units in October, a nine percent drop from
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Foreclosure Mess: 50 States Investigate Mortgage-Services Industry
weeks, major lenders such as JPMorgan Chase, Ally Financial's GMAC Mortgage unit and Bank of America have conceded that paperwork mortgage servicing procedures, which includes foreclosures. GMAC Mortgage on Tuesday said it hired legal and accounting firms
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Foreclosure by Rubber Stamp? State Attorney Generals Investigate
the team leader in the documentation unit of mortgage company GMAC in Horsham, Pa., Stephan spent his days going through what identical letters of concern to Bank of America, JP Morgan Chase, GMAC , PNC Financial Group and Litton Loan Servicing. "I was distressed
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September Bank Foreclosures Reach New Record
now. And that will hold back the recovery time." In recent weeks, major lenders such as JPMorgan Chase, Ally Financial's GMAC Mortgage unit and Bank of America have conceded that paperwork supporting an unknown number of foreclosures contain errors ranging
Videos
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Nightline 06/26: Supreme Court Strikes Down DOMA: What's Next?intricate details of what allegedly happened the night voted boy was murder. Please quickly it to determine. That registration GMAC to and the that was recovered I was also you know why. In revealed that period in communication between the defendant in the
murder. Please quickly it to determine. -- -- -- -- That registration GMAC to -- -- and the -- that was recovered I was also you know why. In revealed that period in communication between -
Visualizing A Dream With Pocho1it's become. Essential kind of part of my opinion whoever I am. This is domain is. She is one of the main leaders in the GMAC movement of the one mineral rights movement win downtown LA and said down ice she's kind of pushed into this car if you look
-- domain is. She is one of the main leaders in the GMAC movement of the one mineral rights movement -- win downtown LA and said down ice she's kind of pushed into this car -
More Cash For GMACthe you've already given out. So this is the issue here and of course there are a lot of people working General Motors need GMAC to continue lending money people like you enemies that we can keep buying cars from them and keep the business afloat that's
there are a lot of people working -- General Motors -- need GMAC to continue lending money people like you enemies that we can keep buying cars from them and keep the business afloat that's -
Obama, Biden DNC Speeches - Google Hangout Analysisabout the issues that they care about 02 last week about which is to which increases pell grant making it mandatory. The federal GMAC things like when issues. Help is accepting students at my house talking about when they graduate college credit focusing on
which is to which increases pell grant making it mandatory. The federal GMAC things like when -- -- -- issues. Help is accepting students at my house talking about when they graduate college credit focusing -
Father, Daughters' Jet Ski Rescue Caught on TapeA father and his daughter's claim to that lifeline they're saying just seconds before plunging over a waterfall GMAC and. When our affiliate WM ER news nine has this amazing story. It was a heart stopping scene a father and his daughter's
to that lifeline they're saying just seconds before plunging over a waterfall GMAC and. When our affiliate WM ER news nine has this amazing story. It was a heart stopping scene a father and his -
'The Chew' and 'GMA' Grab-Bag Cooking ChallengeWhere about two and a She enjoys living here GMAC gentlemen run them over here into options. You got Michael we're gonna himself so Michael do you do right now. Well how wanted
Where about two and a -- She enjoys living here GMAC gentlemen -- run them over here into options. You got Michael we're gonna himself so Michael do you do right now. Well -
Wall Street Hopes for a Rebound After a Down Weekhaving an aggressive reputation when it comes to after financial institutions. So in the past he's gone after things like GMAC and G Mac market analysis parent company financial. He's also gone after Indian Bank of America still. Really a very tough
after financial institutions. So in the past he's gone after things like GMAC and G Mac market analysis parent company -- financial. He's also gone after Indian Bank of America still. Really a very tough
