GMAC’s mortgage arm will be tough to unload (Detroit Free Press)
ResCap, the mortgage lending subsidiary of GMAC, “has been a millstone around the company’s neck” in the words of GMAC Chief Executive Michael Carpenter. But disposing of ResCap without crippling GMAC’s automotive lending business or adding to GMAC’s $17.2-billion debt to the U.S.
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GMAC’s mortgage arm will be tough to unload (Detroit Free Press)
