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» Ally said it expects to record a charge of $170 million in the third quarter in connection with the two settlements. Overall, the bank has reserved $520 million in relation to the suits, according to spokesperson Gina Proia. As part of the settlement with FHFA, ResCap's Chapter 11 plan was amended to reflect that Freddie Mac and FHFA will retain only some "ordinary-course" claims against Ally Bank as a former mortgage servicer and seller. Both the FDIC and FHFA agreed not to object to final confirmation of ResCap's bankruptcy plan, according to Ally's announcement. In a statement, Alfred M. Pollard, general counsel for FHFA, said details regarding the final settlement terms will be released before the end of the year. For Ally, the agreement represents another major step in the bank's ongoing effort to get away from mortgages and shift focus to its more profitable auto finance and banking operations. "These settlements are key steps in Ally addressing its remaining legacy mortgage risks," said CEO Michael A. Carpenter, adding that the bank is "pleased to be able to put these matters behind us." Ally isn't the only bank to come to a settlement with FHFA, which—in its capacity as conservator for Fannie Mae and Freddie Mac—brought claims against more than a dozen banks for allegedly misrepresenting loans sold to the GSEs. JPMorgan Chase recently struck a deal in its push to end a number of mortgage-related investigations, and Citigroup, UBS, and General Electric have all settled this year. STAT INSIGHT 33.7% Share of Michigan home sales considered distressed over the 12 months ending in September. Source: Wells Fargo Securities Economics Group, CoreLogic Mississippi Minnesota rank: 22 rank: 45 90+ Day Delinquency Rate Foreclosure Rate September 2013 1.3% VISIT US ONLINE @ DSNEWS.COM Unemployment Rate 0.9% 5.0% 90+ Day Delinquency Rate Foreclosure Rate September 2013 5.3% 2.1% 1.6% 5.6% 5.5% 3.5% -44.9% -10.7% -4.4% -38.9% Renville CounTy 90+ Day Delinquency Rate Foreclosure Rate 6.4% 2.7% 5.0% 5.0% 3.5% 7.0% year-over-year change year-over-year change 9.4% 26.5% -21.0% Top Core-Based Statistical Area -28.6% Top Core-Based Statistical Area LAureL, MS WinonA, Mn 90+ Day Delinquency Rate 90+ Day Delinquency Rate Foreclosure Rate 4.6% 1.7% 3.2% year ago year ago 2.2% 4.9% 2.0% -4.4% -14.2% note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the September 2013 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary September 2013 figures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. Minnesota -8.2% note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the September 2013 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary September 2013 figures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. Missouri www.MinnesotaREO.com Bruce McAlpin Jeff Detloff Long H. Doan Maribel Garcia Garth Johnson Craig Murphy Michael Olsen 3.5% year-over-year change year-over-year change -35.5% Foreclosure Rate September 2013 September 2013 1.4% Foreclosure Rate year ago year ago 1.4% STone CounTy September 2013 September 2013 1.5% -7.6% Top County Top County 90+ Day Delinquency Rate 9.2% year-over-year change year-over-year change -18.0% 8.5% year ago year ago 1.6% Unemployment Rate 612-669-6324 952-829-2938 763-432-7640 612-821-7500 952-844-1511 763-533-9133 651-209-8444 rank: 42 90+ Day Delinquency Rate Foreclosure Rate September 2013 2.5% Unemployment Rate 1.0% 6.9% year ago 2.6% 1.5% 6.8% year-over-year change -5.6% -34.6% 1.5% Top County Mississippi CounTy 90+ Day Delinquency Rate September 2013 3.2% Foreclosure Rate 2.9% year ago 2.7% STAT INSIGHT 29% HAMP redefault rate in Minnesota as of midyear. Source: Special Inspector General for the Troubled Asset Relief Program 1.9% year-over-year change 18.7% 48.8% Top Core-Based statistical Area MoBerly, Mo 90+ Day Delinquency Rate Foreclosure Rate September 2013 3.5% 2.3% year ago 3.1% 2.5% year-over-year change 10.8% -4.7% note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the September 2013 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary September 2013 figures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. 83