Ally Financial is a commercial banking institution headquartered in Detroit, Michigan. The bank provides commercial finance, insurance and mortgage products, banking, real estate, and commercial and personal banking services. The bank operates in three segments namely automotive finance, mortgage, and insurance. The firm's automotive finance segment provides purchasing or originating, selling, and securitizing automotive retail contracts and leases with retail customers, as well as collection and processing services for those contracts and fleet financing to automotive dealers. The mortgage segment offers the origination, purchase, servicing, and sale of residential mortgage loans. The insurance segment offers automobile service contracts, personal automobile insurance coverage, and selected commercial insurance coverage reinsurance coverage.
