GMAC stops buuying homes in MASS

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NEW YORK (TheStreet) — GMAC Mortgage, the mortgage arm of Ally Financial said it will stop buying new mortgage loans originated by correspondent mortgage lenders and wholesale brokers in.

On Friday, GMAC Mortgage, the mortgage origination and servicing operation of Ally Financial Inc., announced that it would stop purchasing mortgage loans from the third party in Massachusetts. But those early letdowns can provide a valuable (if heartbreaking) crash course in home buying, Presti says. have school systems that would be the envy of other areas.