Tags: Ally | CEO | Firm | Screwed-Up | Foreclosure | Robosigners

Ally CEO: Firm ‘Screwed Up’ Using Foreclosure Robosigners

Wednesday, 03 Nov 2010 11:25 AM


Ally Financial Inc., the auto and home lender, said the company was “embarrassed” that it used so-called robosigners to fill out foreclosure documents.

“We screwed up,” Chief Executive Officer Michael Carpenter said today during a conference call on third-quarter earnings. “We had a robosigner affidavit problem. No question about it. We’re embarrassed about it and we fixed it going forward.”

Any errors will be corrected and the company is “confident that we did not foreclose on anybody inappropriately,” Carpenter said. “It’s up to us to prove that.”

“We’ll be the first to say we screwed up on robosigner affidavits, but we’re not going to say we screwed up on foreclosures,” said Carpenter, whose company is based in Detroit.

© Copyright 2015 Bloomberg News. All rights reserved.

Around the Web

Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
Zip Code:
Privacy: We never share your email.

You May Also Like
Around the Web
Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

© Newsmax Media, Inc.
All Rights Reserved