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Loan Modification

: Mortgage Lender Implode-o-Meter

GMAC's infighting stalls ResCap sale

By Implode-Explode Heavy Industries

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" According to people familiar with the matter, GMAC's and ResCap's boards are fighting over how to sell ResCap, a money-losing home lender that nearly collapsed, and brought GMAC with it, due to its underwriting of subprime mortgages"

Full post as published by Mortgage Lender Implode-o-Meter on January 19, 2010 (boomark / email).

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