ALLY Profile
Ally Financial Inc., founded in 1919 and headquartered in Detroit, Michigan, is a digital financial services company offering a wide range of financial products and services primarily in the United States and Canada. The company operates through four main segments: Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations.
The Automotive Finance Operations segment provides various automotive financing services, including retail installment sales contracts, loans, operating leases, and term loans to dealers. It also offers financing for dealer floorplans, other lines of credit, warehouse lines to automotive retailers, and fleet financing. Additionally, this segment provides financing services to companies and municipalities for vehicle purchases or leases and offers vehicle remarketing services.
The Insurance Operations segment delivers consumer finance protection and insurance products through the automotive dealer channel, as well as commercial insurance products directly to dealers. This includes vehicle service and maintenance contracts, guaranteed asset protection products, and commercial insurance coverage primarily for dealers' vehicle inventory. The Mortgage Finance Operations segment manages a consumer mortgage loan portfolio, which includes bulk purchases of jumbo and low-to-moderate income mortgage loans originated by third parties, along with direct-to-consumer mortgage offerings. The Corporate Finance Operations segment offers senior secured leveraged cash flow and asset-based loans to middle market companies, leveraged loans, and commercial real estate products, particularly serving companies in the healthcare industry.
Ally Financial also provides commercial banking products and services, as well as securities brokerage and investment advisory services. Formerly known as GMAC Inc., the company rebranded to Ally Financial Inc. in May 2010. With its diverse range of financial services, Ally Financial continues to support a broad customer base, leveraging its digital platform to deliver efficient and innovative financial solutions.
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