GMAC Financial Services and ResCap Announce Restructuring of Mortgage Operations
October 17, 2007 Posted by Minnesota Real Estate
Fourth-Quarter Restructuring Charge Expected
MINNEAPOLIS, Oct. 17 /PRNewswire/ — GMAC Financial Services today announced it is restructuring its mortgage operations, Residential Capital, LLC (ResCap), as severe weakness in the housing market and mortgage industry continues to prevail. ResCap will streamline its operations and revise its cost structure, which will enhance its flexibility, allowing it to scale […]