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


* 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 claimed Ally's GMAC ...

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