Ally rejects mortgage-backed-loan claims by FHFA:

09/6/2011 | Wall Street Journal, The

Ally Financial has denied claims by the Federal Home Finance Agency that it misled Fannie Mae and Freddie Mac about mortgage-backed loans it sold them. "Freddie Mac is a sophisticated investor and elected to take certain risks with respect to purchasing securities," Ally said in a statement. "The losses Freddie may have sustained related to those securities are a result of market forces, not any alleged errors or omissions by Ally in connection with the securities."

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