Mortgage News from Around the World
US: GMAC aims for slice of bank bailout piejust-auto.com (subscription), UK - 10 ... which also owns most of Chrysler. GM owns a 49%...
Auto Leases Burden GMACWall Street Journal - 15 ResCap, one of the nation's largest subprime- mortgage lenders , has been struggling to turn around...
GMAC Tightens the Auto-Finance ScrewsBusinessWeek - 18 But given the losses GMAC has taken on mortgage loans and leases, it has had to get...
Report: Rescap parent GMAC will need more US supportBizjournals.com, NC First-quarter results released Tuesday show some improvement in GMAC's mortgage operations. Net losses for ResCap,...
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...
RTT News Accounting move puts ResCap in the blackMinneapolis Star Tribune, MN That resulted in a one-time gain of about $900 million for GMAC's...
GM's Sales Further Compromised By Tightening At GMACCNNMoney.com - 4 GMAC is the only captive auto lender also in the home-mortgage business. As one...
GMAC in Discussions with Federal Regulators on Bank StatusPR Newswire (press release), NY - 30 Oct 2008 ... including the closure of all GMAC Mortgage...
US firepower puts Darling's inaction under spotlightguardian.co.uk, UK - 1 hour ago ... and finally, last weekend, seized control of giant lenders Freddie Mac and...
Ireland puts up €400bn to protect six big lendersguardian.co.uk, UK - 1 hour ago Other banks exposed to the US mortgage market also suffered deeply. Dexia...
3rd UPDATE: GMAC's 2Q Loss Fueled By Mortgages, Auto LeasesCNNMoney.com - 4 He noted that, in the first quarter, 12.2% of home mortgage loans...
US Stocks Rise, Auto Sales Plunge123Jump.com, FL - 3 Fed Chairman Bernanke did not rule out zero rate possibility in a speech and Treasury...
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