Relevant:
- Filing indicates missed semi-annual interest payment at ResCap; Not Yet A Default
- Ally Reports Profit for Second Straight Quarter as Auto Financing Improves
- Ally's GMAC Mortgage Halts Home Foreclosures in 23 States
- GMAC Reports Third-Quarter Loss Tied to Loan Defaults
- Moody's Expects GMAC to Cut Lending to ResCap
2010-05-03 — housingwire.com
"The companies mortgage operations, including ResCap and the mortgage activities of Ally Bank and ResMor Trust, reported a $175m income in Q110 after a $995m loss in Q409. Its mortgage loan production in Q109 dropped to $13.3bn in Q110 from $18.1bn in Q409. GMAC pointed to lower mortgage market volumes and seasonal patterns as reasons for the downturn."
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