Ally Financial to exit mortgage origination business

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.
Detroit-based 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 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 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 Exit Origination Business
The Detroit, Mich.-based Ally Financial is exiting the mortgage origination business, as first reported by The Charlotte Observer. The holding company and financial services provider offers mortgage lending services through its digital-only banking subsidiary,
Ally Financial: Will Be Exiting Mortgage Origination Business and Looking at Strategic Alternatives for Our Credit Card Business in 1Q >ALLY
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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.
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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 “right-size” the company.