Auto lender Ally Financial Inc.'s banking unit said it would sell its remaining mortgage servicing rights portfolio to online lender Quicken Loans Inc. for about $280 million, Reuters reported yesterday. Ally, which is 74 percent-owned by the U.S. government after a series of bailouts, has been exiting the mortgage business as part of a plan to focus on auto lending and Internet banking. Detroit-based Quicken is buying collection rights on $34 billion of non-delinquent Freddie Mac and Fannie Mae mortgages. Quicken, which has a $90 billion mortgage servicing portfolio, said that it would become a top-10 servicer after the purchase.
