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 Exit Mortgage Business, Cut Jobs & Focus on Auto Franchise
Ally Financial is set to exit the mortgage origination and credit card businesses. It intends to right-size the organization and focus on the auto business.
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.
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 to to cut jobs, end mortgage originations - BBG
Ally Financial (NYSE: ALLY) plans to exit its mortgage origination business and reduce its workforce due to increasing credit challenges and the impact of higher interest rates, according to a report from Bloomberg on Wednesday.
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 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.
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