GMAC to cut 5,000 jobs at ResCap mortgage unit - ForbesNEW YORK (Reuters) - GMAC LLC (nyse: GJM - news - people ), the auto finance and mortgage company, plans to eliminate about 5,000 jobs at its Residential Capital LLC unit and close all 200 GMAC Mortgage retail offices to combat weak housing and ...
Sallie Mae names Fischbach Sr. VP of corp. finance - MSN MoneyCentralRESTON, Va. (AP) - Student lender SLM Corp., the student lender better known as Sallie Mae, said Thursday it named Kenneth Fischbach senior vice president of corporate finance. The Reston, Va.-based company said Fischbach will oversee the company's ...
Mortgage rates ease: Third week in a row - CNN MoneyNew York (CNNMoney.com) -- Mortgage rates declined, easing for the third straight week, according to a report from mortgage finance giant Freddie Mac. Rates for 30-year fixed-rate mortgages (FRMs) averaged 6.35% in the week ending Sept. 4, according ...
Foreclosures, Overdue Mortgages Increase Again - Wall Street JournalThe rate of U.S. home mortgages overdue or in foreclosure rose again in the second quarter as housing markets weakened, particularly in California and Florida, and more borrowers defaulted on so-called prime loans. Among mortgages on one- to four ...
U.S. 30-year mortgage rates fall in latest week - ForbesWASHINGTON, Sept 4 (Reuters) - U.S. 30-year mortgage rates fell slightly in the latest week, according to a survey released on Thursday by home funding company Freddie Mac . U.S. 30-year mortgage rates dipped to an average of 6.35 percent from 6.40 ...
Residential Credit Solutions Named to S&P Select Servicers - Yahoo FinanceSpecialized Mortgage Investment and Servicing Platform Backed by Private Equity Firm Equifin Capital Partners and Och Ziff Capital Management Recognized as a 'Select Servicer' by S&P NEW YORK, Sept. 4 /PRNewswire/ -- Residential Credit Solutions, Inc ...
GMAC to slash workforce, reduce mortgage lending - NewsdayLender GMAC Financial Services said Wednesday that it would close all of its 200 retail offices and lay off about 5,000 employees as part of a plan to reduce its mortgage lending and servicing because of the housing market downturn. The majority of ...
GMAC Mortgage unit to dismiss 5,000, shut 200 offices - Evening Star(Bloomberg) - GMAC LLC and its Residential Capital LLC home-loan unit plan to dismiss 5,000 employees, or 60 percent of the unit's staff, and close all 200 GMAC Mortgage retail offices because of weak real-estate markets. The first 3,000 job cuts ...
U.S. Must Buy Assets to Prevent `Tsunami,' Gross Says (Update3) - BloombergSept. 4 (Bloomberg) -- The U.S. government needs to start using more of its money to support markets to stem a burgeoning ``financial tsunami,'' according to Bill Gross , manager of the world's biggest bond fund. Banks, securities firms and hedge ...
