Ally Financial to exit mortgage origination business

Ally Financial to exit the mortgage origination business
Ally Financial (ALLY) plans to exit mortgage origination and evaluate options for the credit card business, impacting less than 5% of workforce.
Ally to end mortgage originations, cut jobs across company
Ally Financial Inc. will cut jobs, end mortgage originations and consider strategic alternatives for its credit-card business as borrowers have struggled to pay down costly debt.
Ally Financial: Will Be Exiting Mortgage Origination Business and Looking at Strategic Alternatives for Our Credit Card Business in 1Q >ALLY
Dow Jones Newswires is a market-moving financial and business news source, used by wealth managers, institutional investors and fintech platforms around the world to identify trading and investing opportunities, strengthen advisor-client relationships and build investor experiences. Learn More.
Ally Financial to cut hundreds of jobs companywide, Charlotte Observer reports
Ally Financial (ALLY) plans to cut hundreds of jobs companywide, bank spokesman Peter Gilchrist confirmed in a statement to The Charlotte
Ally Financial closes mortgage origination business
Ally Financial announced Wednesday that it would exit the mortgage origination business as part of a broader strategy to pursue higher returns on investments.
Ally Financial to Cut Employee Headcount, Exit Mortgage Business
Ally Financial said Wednesday it will enact a layoff of less than 5% of its 11,000-employee workforce, as well as exit the mortgage-origination business, as the company is burdened by borrowers falling behind on debt.
ALLY to Exit Mortgage Business, Cut Jobs & Focus on Auto Franchise
As mortgage rates are expected to remain higher for longer, Ally Financial ALLY will be exiting the mortgage origination business. Further, the company is seeking “strategic alternatives” for its credit card business.
Ally cutting jobs
Ally Financial Inc. (NYSE: ALLY) is reducing its workforce by several hundred positions, a move that comes after the bank said it is exiting a key business and looking at alternatives for another unit.
Ally Financial confirms hundreds of layoffs companywide, including in Charlotte
About 2,400 people work for Ally in Charlotte. The company said it would cut “less than 5%” of its workforce to help ...
bankingdive1d
Ally lays off hundreds of employees
The bank also announced plans to exit the mortgage origination business this quarter. Ally is exploring strategic ...
Looking Into Ally Financial's Recent Short Interest
According to Benzinga Pro, Ally Financial's peer group average for short interest as a percentage of float is 6.81%, which ...
2 Warren Buffett Stocks to Buy Hand Over Fist and 1 to Avoid
Berkshire Hathaway ( BRK.A -0.09%) ( BRK.B -0.24%) owns about 45 stocks in its $300 billion portfolio, many of which were ...
Carvana lands important loan sale deal with Ally Financial
Carvana Co. (NYSE:CVNA) confirmed in an SEC filing that the auto retailer reestablished an agreement with Ally Financial ...
Ally Financial (NYSE:ALLY) Coverage Initiated at Truist Financial
Research analysts at Truist Financial started coverage on shares of Ally Financial (NYSE:ALLY – Get Free Report) in a ...
Carvana Extends Loan Sale Deal With Ally, Refuting Short Report
Carvana Co. said it has reestablished an agreement with Ally Financial Inc. to sell the lender up to $4 billion in ...
BlackRock, Ally, Microsoft, Washington Post and other US firms to lay off staff in 2025; check full list
Among the multiple reasons the firms cite, they want to slim their staff as part of the cost-cutting measures amid a backdrop ...