Ally, ResCap Agree To Hand Loan Files Over To FHFA

Law360, New York (November 9, 2012, 3:46 PM EST) -- Concluding a complex discovery dispute over the production of 2,100 loan files, Ally Financial Inc. and its bankrupt Residential Capital LLC unit reached a deal Friday with the Federal Finance Housing Agency to give the FHFA documents it sought, in a larger fight over residential mortgage-backed securities.

In a joint order, U.S. District Judge Denise Cote and U.S. Bankruptcy Judge Martin Glenn approved the agreement, under which AFI and the ResCap debtors will produce the requested loan files to the FHFA on a rolling basis, with...
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