The Media Line Staff Damascus, Syria David Rosenberg (The Medi – As the Arab League agreed to go to the United Nations Security Council early this week with a resolution calling for Syrian President Bashar Al-Assad to step down, Russia was reportedly doing a major arms deal with the beleaguered regime. The $550 million agreement [...]

Washington- The Treasury Department began its exit from auto and mortgage lender Ally Financial Inc. Tuesday by moving to sell up to $2.7 billion in securities it holds in the Detroit company. View full post on All Stories

Ally Financial Inc.’s Residential Capital unit can’t be sued in a single group lawsuit by buyers of about $10 billion of mortgage-backed securities, a federal judge said. View full post on All Stories

DETROIT – General Motors’ purchase of AmeriCredit, intended to provide more access to subprime lending and leasing, will close Friday, creating a new entity called General Motors Financial. “The acquisition will form the foundation of the company’s plan to create an in-house financing arm,” GM said today in a statement. The automaker’s sales have suffered [...]

Flawed foreclosure documents like those that led mortgage lender Ally Financial to halt evictions in 23 states this week are showing up in parts of the country previously thought to be unaffected, including the Washington area, according to attorneys and consumer advocates. Business – Financial Services – Mortgages – United States – Foreclosure View full [...]