ResCap suing brokers who originated bad mortgage loans
By DAVID PHELPS, Star Tribune
August 9, 2008
A division of ResCap, the embattled mortgage-finance arm of GMAC Financial Services, is fighting back in the home-lending credit crisis.
The Bloomington-based investor has filed more than a dozen federal lawsuits in Minnesota against mortgage companies, claiming that they failed to do adequate [...]
By Kevin Smith, Staff Writer
Article Launched: 08/07/2008 10:43:44 PM PDT
http://www.pasadenastarnews.com/business/ci_10131298
Consumers who have suffered because of home foreclosures will see some stability returned to the marketplace as a result of the housing stimulus bill – but more needs to be done, an industry group said Thursday.
Fred Arnold, president of the California Association of Mortgage Brokers, said his [...]
mb007