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Ally Bank To Sell Business Lending Mortgage Operations

Wednesday, February 20, 2013 - 6:36 AMAlly Bank - Details
From Dow Jones Business News via Nasdaq
Ally Financial Inc. said Monday it reached a deal to sell its bank's business-lending operations to Walter Investment Management Corp. ( WAC ) as it continues to shed noncore assets.
Ally in recent years has been working to reduce its exposure to the mortgage business and other business lines so it can focus on its core U.S. auto-lending and online-banking businesses and repay a government bailout that topped $17 billion.

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Ken TuminKen Tumin5,471 posts since
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