Mortgage News from Around the World
Junk Bond Yields Reach Record 20% as Economy Declines (Update1)Bloomberg - 6 Detroit-based General Motors, its financing arm GMAC LLC, and GMAC's mortgage unit...
GMAC Has Limited Funding, May Scale Back Outside US (Update1)Bloomberg - 6 GMAC's mortgage lending unit, ResCap, has reported seven straight money-losing quarters...
GMAC to Sell Home Services Unit to Brookfield Asset (Update1)Bloomberg - 8 Earlier this month, the company dismissed 5000 ResCap employees, or 60 percent...
The Long Case for AutosSeeking Alpha, NY - 1 hour ago GM wanted to have GMAC registered as a bank holding company, after all it makes...
GMAC Tightens the Auto-Finance ScrewsBusinessWeek - 18 But given the losses GMAC has taken on mortgage loans and leases, it has had to get...
Cerberus tightens grip on GMAC mortgage unitFinancial News, UK - 8 Private equity firm Cerberus Capital Management has increased its direct involvement in GMAC Financial...
ResCap Debt Sinks on Scrapped Plan to Buy Bad Assets (Update1)Bloomberg - 4 ... prompted record foreclosures, GMAC announced plans in September to...
US Economy: Pending US Home Resales Drop in May (Update1)Bloomberg - 5 The prospect of further price declines may be discouraging offers, while rising...
S&P 500 May Lose Another 12% Before Bear Market Ends (Update1)Bloomberg - 6 Rising borrowing costs spurred concern yesterday that the nation's biggest sources...
US MBA's Mortgage Applications Index Fell 1.5% (Update1)Bloomberg - 7 About 75 percent of the officials indicated they tightened standards on prime mortgage loans...
US Housing Starts Fall to 17-Year Low, Permits Drop (Update1)Bloomberg - 23 Compared with the April survey, more of the loan officers polled reported...
Biggs Says US Stocks `Close to Bottom,' May Rally (Update1)Bloomberg - 4 The US government should take over Fannie Mae and Freddie Mac, Biggs...
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