Ally’s SEC Filing Reveals $100 Million 2Q11 Charge for Losses Incurred by MBS Trusts
July 8, 2011
Ally Financial, Inc., a major mortgage and automotive lender, said it expects to take a second-quarter charge of approximately $100 million for mortgage losses incurred by certain securitization trusts even as it disclosed new investigations by the Securities and Exchange Commission and the Department of Justice. Ally made the disclosures in an amended prospectus filed with the SEC recently proposing the sale of $100 million shares of the company’s common stock. According to the disclosure, $152 million was paid to the trusts during the second quarter to cover ...
At press time, MFA's shares were up slightly on the day to $10.32 a unit. Its 52-week low is $9.36, its high $13.45.
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