GMAC Financial Services denied on Wednesday a New York Post report that said it was struggling to sell its troubled mortgage unit Residential Capital, which could lead to another bailout. “The New York Post‘s story on ResCap is absolute nonsense,” spokeswoman Gina Proia said. “At the end of last year, we announced we would evaluate strategic alternatives for ResCap. This week we announced meaningful progress with an agreement to sell the European mortgage operations and assets.” A Post spokeswoman said, “We stand by our reporting.”
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HousingWire on Tuesday announced the launch of the HousingWire Mortgage Rankings, a new performance intelligence product designed to provide a clear, data-driven view of mortgage origination activity across the U.S. The rankings benchmark mortgage originators based on observed production, offering a standardized view of performance across geographies, loan types and channels. Historically, the mortgage industry has lacked […]