GMAC has $1.6 bln loss on mortgages (Washington Post)
Story date: 2007-11-01 01:22:40
Added on: 2007-11-02 10:00:21
NEW YORK (Reuters) - Finance company GMAC posted a $1.6 billion third-quarter loss on Thursday as housing and capital market disruptions led to hemorrhaging losses from home lending, triggering credit rating downgrades.
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