Ally Financial, which controls the nation's fifth largest mortgage banking firm, plans to go public this year and is interviewing investment bankers for its initial public offering, according to sources familiar with the plan.Two underwriters that Ally has spoken with include JPMorgan Chase and Goldman Sachs.   

A few weeks ago the U.S. Treasury converted $5.5 billion of GMAC preferred stock it owns into common. The move increased Treasury's stake in Ally's common to 73.8% from 56.3% at Dec. 29.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.