A section of secured bondholders of Residential Capital LLC, the bankrupt mortgage unit of Ally Financial, is pulling out of an agreement to support the company's reorganization plan, Reuters reported today. Ally said that the agreement between Ally and ResCap's third lien bondholders has been terminated by the bondholders. ResCap filed for bankruptcy in May with a plan in place for Nationstar Mortgage Holdings, owned by Fortress Investment Group, to make a $2.4 billion minimum offer for the mortgage servicing assets. Ally Financial also agreed to buy a group of ResCap mortgage loans for $1.4 billion. Ally is not in bankruptcy.
