Fortress sets $3 billion purchase of Ally assets, ResCap

While most of Ally's mortgage operations, which include servicing loans and originating home mortgages, are housed within ResCap, the parent firm still holds some mortgage assets.

Fortress' "stalking horse" bid earmarks $2 billion for ResCap, which is expected to file for Chapter 11 bankruptcy protection within days, and another $1 billion for purchasing a $130 billion mortgage-servicing rights portfolio held by Ally, sources close to the negotiations said. Those rights allow Fortress to collect fees from servicing existing mortgages, considered a more stable business than originating home loans.

The sale to Fortress would be part of a prepackaged bankruptcy plan and would need the court's approval.