Ally Bank To Sell Business Lending Mortgage Operations

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.
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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.