Ally Objects To ResCap's Proposed Deal With Nationstar

Law360, New York (October 2, 2012, 5:41 PM EDT) -- Ally Financial Inc. objected Friday to bankrupt unit Residential Capital LLC's proposed sale of its mortgage servicing platform to Nationstar Mortgage LLC, saying it could conflict with a deal among Ally entities, the Federal Reserve Board and the Federal Deposit Insurance Corp.

In a limited objection to the May 14 sale motion, Ally and subsidiary Ally Bank say the deal could cause ResCap and its affiliated debtors to fail to comply with their obligations under the Feb. 9 consent order, which also includes debtor GMAC Mortgage...
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