TITLE

GMAC Sees Some Light

AUTHOR(S)
Cornwell, Ted
PUB. DATE
May 2008
SOURCE
National Mortgage News;5/5/2008, Vol. 32 Issue 31, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports on the business losses experienced by GMAC Financial Services LLC in the first quarter of 2008 in New York. Although the company lost $589 million, it claims that the performance of ResCap, its mortgage unit in the U.S., has improved. ResCap lost $859 million, which is a decline from a loss of $910 million in the fourth quarter of 2007. The company also asserts that the weakness in its overseas business offset domestic improvement.
ACCESSION #
31954360

 

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