GMAC Loses $5bn on Mounting Mortgage Woes

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GMAC Financial Services [stock GOM][/stock] posted an expected Q409 net loss of $5bn, as losses related to legacy assets in the company’s mortgage operations continue to mount. The Q409 loss.

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Housing Wire – "GMAC Loses $5bn on Mounting Mortage Woes" (2-4-10) " gmac financial services (gom: 19.8199 -0.85 %) posted an expected Q409 net loss of $5bn, as losses related to legacy assets in the company’s mortgage operations continue to mount. The Q409 loss compares to net income of $7.5bn in Q409 and net loss of $747m in Q309.

Do the Answers to Our Current Financial Woes Lie in the Past?. "is that we will lose all. according to the new data. They were followed by GMAC,

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