Foreclosuregate | Ally Financial Statement on Mortgage Servicing Consent Order

Ally Financial Statement on Mortgage Servicing Consent Order

DETROIT, April 13, 2011 /PRNewswire/ — Ally Financial Inc. (Ally) and certain of its subsidiaries have executed the Consent Order issued by the Board of Governors of the Federal Reserve and the Federal Deposit Insurance Corporation related to the servicing operation of its mortgage business.

The company deeply regrets the error in processing certain affidavits and has acted with urgency and rigor in addressing and remediating the issue.  Through our review to date, Ally has not found any instance where a homeowner was foreclosed upon without being in significant default.

GMAC Mortgage has substantially upgraded its operations over the past two years and today has a Tier 1 servicer rating from the Department of Housing and Urban Development (HUD) and ranks first among large servicers in borrower workouts by Fannie Mae.   In addition, the company has been a leader in loan modifications and has completed more than 610,000 borrower workouts since 2008 on a servicing portfolio averaging 2.7 million loans.

Ally continues to remain committed to offering borrowers in financial distress affordable and sustainable payment relief whenever possible.  Over the last several months, Ally has continued to pursue ways in which it can further enhance its processes to provide additional assistance to homeowners, including streamlining written communications to borrowers, participating in programs such as the Hardest Hit Fund, and implementing additional quality control measures, among many other enhancements.

Ally has placed the highest priority on meeting the requirements of the Order.  In this regard, the company has designated an internal executive team, with senior management from Ally Financial, GMAC Mortgage and Ally Bank, which will have oversight for the timely and high-quality compliance with the Order.  Given the importance of this effort, Ally has also reassigned its general auditor, Mark Weintraub, to lead these initiatives at the Ally Financial level, working closely with the businesses.  Weintraub will have day-to-day responsibility for ensuring that all areas of the company are meeting the requirements of the Order on a timely basis.

Gina Proia
646-781-2692
gina.proia@ally.com

SOURCE Ally Financial

See full article from DailyFinance: http://srph.it/h9QNqv

Comments
25 Responses to “Foreclosuregate | Ally Financial Statement on Mortgage Servicing Consent Order”
  1. Katheryn says:

    @ IPAYMYDEBTS

    You have shown us all that you do not have the ability to think independently of those that are in charge to lead and protect but have, instead lied and protected the white collar criminals. It is people like you who believe anything and everything unquestioningly. Time has shown that many are easily brainwashed, and you, being the good doobie they want you to be, have earned a gold star that you may post on your refrigerator or wear in the middel of your forehead. We don’t care! I would offer one word of caution, ‘Hitler’. It was people such as yourself that made it possible for the slaughter of millions of innocent people as they accepted and believed and then were led straight to the gas chambers. When those in power gain all the wealth and laws are broken and changed in favor of their theft and no one questions these actions, you take the chance on living your life under total dictatorship. Please go out into the world and look, read and listen…you may learn something and please don’t whine.

  2. Pamela says:

    Bank implant go figure on that one and not too bright either.A paid for schill .Evidently just out to give us all a little entertainment value for the weekend.WTF.

  3. IPAYMYDEBTS is a TROLL from inside General Motors…

    You should mask your ip address when trolling from work.

    Troy, Michigan, United States
    General Motors Corporation (12.129.87.4)
    4closurefraud.org/2011/04/13/foreclosuregate-ally-financial…

    Guess your company pays their debts too?

    Bailout: All told the company has taken $17 billion in federal funds, two-thirds of which have been converted to common shares held by Treasury. http://finance.fortune.cnn.com/2011/03/31/bailed-out-ally-files-for-ipo/

    Ally consent order might have some good language about increasing staff levels in foreclosure related departments – (obviously training has already begun for the internet comment/basher brigade)

  4. Pamela says:

    In response to Ipay my debt. your take is a little skued here so lets bring you up to speed.First and foremost we all payed and are paying our debts .Because you have chosen to pay your perhaps fraudulent mortgage loan and not discover that is full of fraud just shows a great amount of ignorance on your part.Most of us on this site were just regular people working everyday jobs just like you until some sort of tragedy stopped our nice little normal lives .In my paticular case an emergency surgery to the tune of 267,314.00 with no medical insurance as it was unaffordable.Lost job due to that surgery.Went to lender did everything I knew how to do and got nowhere.Started to dig a little and discovered so much graft,greed and corruption it would put Al Capone to shame.In fact I would have been better off taking a loan out with him.That I have chosen not to pay on a fraudulent contract does not mean I don’t pay my debts.Had I known all of this before signing papers I would have ran not walked away from the deal.How dare you come on this web site and attempt to say we don’t pay our bills.I think you have navigated to a web site that is not in the scope of your understanding and should probably go to one possibly a little closer to your inherent belief system as you are not going to find it here.At the end of the day when all is said and done go back to your daycare as the adults are done playong your silly little games.Have a nice life.

  5. IPAYMYDEBTS says:

    I actually payback the money that I choose to borrow. The banks did not force it on me, I asked for it. Borrowing money and not paying it back is stealing. I am sick of the scammers that don’t pay their mortgage for years and still expect to live in their house. I honor my obligations. Where are the programs to help the honest people who actually pay back the money they borrow?

  6. Joyce says:

    Gag me with a freakin’ spoon. I am so stinkin sick of this crap. They won’t stop until we’re all totally impoverished and relying on the government for food aid, housing aid, insurance aid and everything else “they” decide we need.

  7. talktotennessee says:

    Actually, GMAC, now Ally, was easier to work with on modification than the others. Wells Fargo, Chase and Bank of America are another story entirely. All three proved extremely deceptive. A little like “wading through Jello.” Tell you anything on the phone, never talk to same person twice, lie, lose paperwork, lies and more lies. Wells Fargo aka ASC is the worst. Nice on the phone but worthless. Like being swallowed up in quicksand. The more you try to comply with their insane requirements, the worse they get. Being in real estate, I knew a little about short sales, modification packets, etc. Made no difference whatsoever. Must have called these jokers 100 times.
    File suit, it is the only thing they understand.

    • yvonne says:

      Easier to work with cause they are the biggest fraudster banks…own by Deutsche and holder of our tax bailouts dollars…they need to do this to try to salvage their robo signers frauds and prevent more fraud being exposed…they need to have some ‘notes’ to cover up for the ones they never had…they are modifying what they don’t actually own so it cannot be t racked….

  8. pamelag says:

    ALLY aka GMAC STOLE my house. forced homeowners ins altho i had my own, applied all payments to escrow, i was never in DEFAULT. the ‘ JUDGE’ covered his ears. they lie how they lie. God is watching.God Bless America

    • talktotennessee says:

      Force placed insurance is a common ploy. The insurance placed is always exorbitantly priced. I think they get a kickback on it or ‘own’ the insurance carrier.

    • yvonne says:

      Go back and get it overturned…they tried that with me…I fought and won …so far…they are trying to think up something new to come back at me with…but I don’t fight my battles alone so I can’t loose…if God be for me no one can be against…a proven and tried faith here…

  9. Pamela says:

    More corporate sunshine being blown up our butts once again.They think all they have to do is drag out some pretty numbers and we are all suitably impressed,because they’ve been such good little bankster gangsters.Puhlease I’m not so impressed as it is all lies and deceict as usual .No change of pace here.SSDD!!!

  10. angry & NOT TAKING IT says:

    this entire scam is to strip us citizens of any rights, all rights start with property rights, without property rights all other rights are lip-service or no rights at all. we have a right to bear arms & behead bankers. f u k em

  11. caren says:

    So if the loan service is switched and payments are sent back or negotiated lower then counted as in default then what// ?? Such gameplayers, liars and racketeers

  12. l vent says:

    This has nothing to do with HOMEOWNERS BEING IN SIGNIFICANT DEFAULT. THIS IS ALL ABOUT THE PONZI SCHEME AND THE ORIGINATION FRAUD, THE FRAUDULENT INDUCEMENT OF THE MORTGAGE. THIS IS ABOUT THE SECURITY OF OUR PROPERTY RIGHTS AND THE LENDER SECURING THEIR LIEN. THEY NEVER DID THAT BECA– USE THERE NEVER WAS A LIEN. WE NEVER OWED ANY MONEY. IT WAS ALL A GIANT SCAM.THIS WAS THE BIGGEST PONZI SCHEME HEIST IN HISTORY THAT WE THE PEOPLE NEVER AGREED TO PARTICIPATE IN. WE WERE SET UP AND ROBBED AND IT WAS INTENTIONAL. RESCIND OUR FAKE LOANS, GIVE THE STOLEN HOMES BACK TO THE PEOPLE. THROW THESE CRIMINALS IN PRISON. THROW ALL OF THE TREASONIST DEMORAT AND REPUBLICON POLITICIANS OUT OF OFFICE IN 2012. THEY WERE ALL IN ON THE SCAM AND THE ROBBERY OF OUR WEALTH AND PROPERTY.THE PROOF ID IN THE ORIGINATION FRAUD, THE ENTIRE WHOLE OF THESE LOANS WERE LIARS LOANS, THEY TRUTH IS, THESE MORTGAGE LOANS NEVER EXISTED. IT WAS ALL A GRAND ILLUSION.

  13. 3032oak says:

    Well this would mean something if Ally, aka GMAC, and Fannie Mae actually informed their foreclosure attorneys so that they would BACK OFF. And it still doesn’t suggest what should be done to those that actually fabricated documents and or those who made the authorization to do so. They did clearly, once again, cover their ‘cheating butts’ by implying that any foreclosures completed were rightly deserved (albeit, even if they may have falsified the documents). They do not suggest that just maybe many of those foreclosed upon fell behind BECA– USE of the entire collapse of the economy, something they and their counterparts in crime had everything to do with…hence, (eye-opener here to the pretender lenders and MERS) the enormous loss of jobs of the American people and the ‘working man’ investor losses (massive) in pension funds and individual 401K’s and mutual funds. If it sounds too good to be true it usually is…once again an appearance of taking the high road by the crooks when in essence they are getting off ‘scott free’.

    • They do not suggest that just maybe many of those foreclosed upon fell behind BECA– USE of the entire FRAUDS committed by Banks telling people to not pay, insert outrages fees, denying mods after trial period (TPP) or force insurance, on top of the economy, many times and i mean many the banks pushed people in to the foreclosure

  14. joe parisi says:

    When is the next debacle coming and the slaps on the wrists?

  15. Jason Werner says:

    Blah blah blah. Talk is cheap. Clouds and wind with no rain. The LORD is breaking the fraudsters’ backs. The banks will continue their crimes and when they do; they’ll get nailed again by God. The damages continue to mount.

    • yvonne says:

      I agree on that…God continues to expose what was done in darkness…there is much more to come…I vent has some insight into some major issues also…remember the wealth of the wicked being transferred into the hands of the righteous? Don’t think the banks are getting away with anything…it may seem so for the moment…

    • yvonne says:

      PS. but talk is never cheap…it is powerful…so lets do so strategically….

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