Friday, November 2, 2007

GMAC suffers $1.6 bln loss on mortgages (Reuters via Yahoo! News)

GMAC, the finance company once controlled by General Motors Corp , reported a $1.6 billion third-quarter loss on Thursday, as housing and capital market disruptions caused losses to hemorrhage at its home lending unit.

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[Source: Yahoo! News Search Results for mortgages]

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