The government-owned Ally Financial sold $250 million of legacy mortgages last year, using the whole loan securitization market, according to a recent filing with the Securities and Exchange Commission.

The filing noted that at yearend 2011, Ally had legacy assets of roughly $10.9 billion, including mortgages 'held for investment' with a carrying value of $8 billion. Its legacy mortgages held for sale have a net 'carrying' value of $1.6 billion.

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