UPDATE 1-Ally sued by FGIC over $3.8 bln mortgage debt

Newswire

* Three lawsuits filed over mortgage-linked securities * Lawsuits claim loan representations were false By Karen Freifeld NEW YORK, Nov 30 (Reuters) - Ally Financial Inc units were sued by Financial Guaranty Insurance Co for fraud and breach of contract over $3.8 billion in residential mortgage-backed securities it insured during the housing boom. The lawsuits were filed on Wednesday in the New York state Supreme Court in Manhattan. In one complaint, FGIC ...

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