Mortgage News from Around the World
GM and GMAC amend financing agreementBusinessWeek - 2 ... Cerberus Capital Management LLC, has been hemorrhaging cash as a result of the problems...
Deadline extended in GMAC debt purchase offerBusinessWeek - 5 ... which itself is running out of cash, owns a 49 percent stake...
Cerberus tightens grip on GMAC mortgage unitFinancial News, UK - 8 Private equity firm Cerberus Capital Management has increased its direct involvement in GMAC Financial...
GMAC Tightens Standards for Financing Autos, Dealers (Update1)Bloomberg - 3 GMAC in June had to arrange more than $60 billion of credit for itself...
US: GMAC aims for slice of bank bailout piejust-auto.com (subscription), UK - 10 ... which also owns most of Chrysler. GM owns a 49%...
US puts up $6 bln to support auto lender GMACguardian.co.uk, UK - 9 In 2006, Cerberus paid $7.4 billion to GM for a 51-percent stake...
Auto Leases Burden GMACWall Street Journal - 15 ResCap, one of the nation's largest subprime- mortgage lenders , has been struggling to turn around...
NZ banks put the screws on credit - the rules have changedNew Zealand Herald, New Zealand - 8 New Zealand banks and wholesale mortgage lenders...
GMAC Unit Ends Auto Loans in Seven European Countries (Update2)Bloomberg - 3 Since July, GMAC has sold its home-services unit, closed all 200 GMAC...
GM's Shares Hit by Analyst DowngradesBusinessWeek - 1 hour ago The filing says that the value of GMAC Residential Capital's mortgage loans has deteriorated due...
GMAC in Discussions with Federal Regulators on Bank StatusPR Newswire (press release), NY - 30 Oct 2008 ... including the closure of all GMAC Mortgage...
A cure for the coming crisis in auto financeFinancial Times, UK - 1 hour ago Unlike the sloppy lending standards in the home mortgage industry, auto...
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