November 21, 2007

GMAC targets Northern Rock and sale of ResCap parts (Reuters)

Shoppers pass a branch of Northern Rock in Kingston in London September 15, 2007. (Luke MacGregor/Reuters)Reuters – Finance company GMAC said on Wednesday
it is exploring the sale of parts of its troubled
mortgage-lending arm, Residential Capital LLC, and the purchase
of a non-U.S. mortgage lender, which sources said was the UK’s
Northern Rock Plc .

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