Gmacâ??S Mortgage Unit Loses $747M In Q309 - Congoo

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GMACâ??s Mortgage Unit Loses $747M in Q309

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HousingWire.com | November 05, 2009

GMAC Financial Services (GJM: 18.25 +0.66%) lost $767m in Q309, compared to a net loss of $2.5bn in Q308. The Q309 loss was due primarily to legacy assets in GMACâ??s mortgage operations. The unit experienced a pre-tax loss from continuing operations of $747m during the quarter. The loss is an impro...

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