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ResCap’s Future In Doubt, Says GMAC 

Nov 05, 2008By

Residential Capital LLC, the real-estate finance arm of financial giant GMAC Financal Services, may not survive much longer after posting a $1.9 billion loss during the third quarter, according to a statement released by the firm Wednesday. The woes at the mortgage lender pushed GMAC into the red for the fifth straight quarter, with the company reporting a net Q3 loss of $2.5 billion.

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