The exposure of GMAC Financial Services to a potential bankruptcy filing by its Residential Capital LLC mortgage unit could be limited by an agreement reached several years ago. In a twist ...

Government-owned GMAC Financial Services is having trouble selling its Residential Capital mortgage business — and that could mean another taxpayer bailout. “The original notion that someone ...

Government-controlled finance company GMAC has hired Goldman Sachs to start the process of selling the company’s money-losing mortgage unit Residential Capital, The Post has learned. What to do ...

NEW YORK, Jan 8 (Reuters) - Finance company GMAC LLC expressed support for its money-losing Residential Capital LLC mortgage unit on Thursday but stopped short of a commitment to keep the big home ...

Moody’s Investors Service said late Wednesday that it had again downgraded Residential Capital LLC amid concerns that the money-losing mortgage arm of GMAC LLC was facing an unmanageable debt load.

GMAC Residential Funding Corp. of Minneapolis and GMAC Mortgage Corp. of Horsham, Pa., were put under the ResCap umbrella in May to help insulate the two businesses from the Detroit automaker's credit ...

That put it in danger of failing to meet financial obligations.Prior to Wednesday's announcement, ResCap increased the size of an existing credit facility with GMAC and said it was selling some of ...

The future of Residential Capital LLC may hinge on whether its parent, GMAC LLC, succeeds in converting to a bank holding company. Tom Marano, ResCap's chief executive, said in an interview last week ...

NEW YORK (CNNMoney.com) -- Residential Capital LLC, the home lending arm of the former General Motors finance unit GMAC, announced it is cutting 3,000 jobs, or 25 percent of its already reduced ...

Still, GMAC is reeling because of losses associated with mortgages held by its ResCap unit which was in the residential-mortgage business. The Treasury had earlier purchased $3.5 billion of GMAC ...

The moves by GMAC, the home and auto lender owned by private-equity concern Cerberus Capital Management LP and General Motors Corp., are aimed at shoring up Residential Capital LLC, known as ResCap.