GMAC Takes Another Stab at Restoring Its Ailing Mortgage Business to Profitability
January 15, 2010
GMAC started off the New Year with a fresh $3.8 billion infusion of additional capital from the U.S. Treasury, in part to help it deal with its troubled mortgage unit, ResCap. But doubts remain as to whether that will be enough to help the struggling subsidiary regain its footing on profitable ground – or make it more attractive to potential buyers. GMAC Financial Services...