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.
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 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 to cut hundreds of jobs companywide, Charlotte Observer reports
Ally Financial (ALLY) plans to cut hundreds of jobs companywide, bank spokesman Peter Gilchrist confirmed in a statement to The Charlotte
Detroit-based Ally to end mortgage originations, cut jobs across company
The firm had about 11,100 employees as of the end of 2023, with a significant portion of its workforce in Charlotte, North Carolina.
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 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.
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