UPDATE 2-Ally Financial profits rise on mortgage servicing

Newswire

* Net income $310 mln vs $146 mln year-ago * Executives say Chrysler non-renewal of lending pact expected * Auto finance results slip (Adds comments from conference call and background on bailout) By David Henry and Rick Rothacker April 26 (Reuters) - Ally Financial Inc, a mortgage and auto lender owned largely by the U.S. government, reported a higher quarterly profit on higher valuations for its mortgage servicing rights. The earnings report came a day after Ally received notice ...

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