UPDATE 1-Ally Financial profits up on mortgage servicing


* Net income $310 mln vs $146 mln year-ago * Mortgage profits quadruple * Auto finance results slip (Adds company background, executive comments) By David Henry and Rick Rothacker April 26 (Reuters) - Ally Financial Inc, the mortgage and auto lender owned largely by the U.S. government, reported higher first-quarter profits on higher valuations for its mortgage servicing rights. Net income was $310 million, compared with $146 million a year earlier, the company said in a statement on ...

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