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Mortgage Loans News
GMAC says it's fixing mortgage business - Newark Star-Ledger
GMAC LLC, the financing arm of automaker General Motors Corp., said today that it has made process in restructuring its ailing home mortgage subsidiary, but didn't go as far as to guarantee its future. Residential Capital LLC, which has posted ...
Read more...U.S. Banks Offer Mortgage Rates Below 5% as Fed Buys Securities - Bloomberg
Jan. 8 (Bloomberg) -- The largest U.S. banks are starting to offer fixed home loans below 5 percent after the government began buying mortgage securities to bolster the housing market. JPMorgan Chase & Co. is advertising 30-year mortgages as low as 4 ...
Read more...Standard & Poor's lowers PNC credit rating to "A" - Pittsburgh Business Times
Standard & Poor's Inc. lowered its credit rating on PNC Financial Services Group Inc. Wednesday from “A+” to “A.” S&P cited concerns over Pittsburgh-based PNC’s (NYSE:PNC) Dec. 31 acquisition of Cleveland-based National City Corp. Concerns ...
Read more...GMAC says it's made progress in reshaping ResCap - Ann Arbor News
NEW YORK (AP) — GMAC LLC, the financing arm of automaker General Motors Corp., said Thursday that it has made process in restructuring its ailing home mortgage subsidiary, but didn't go as far as to guarantee its future. Residential Capital LLC ...
Read more...S&P cuts PNC ratings after National City purchase - Cleveland Plain Dealer Blog
NEW YORK -- Standard & Poor's has cut its investment-grade credit ratings on PNC Financial Services Group Inc. by one notch, due to some concerns over the bank's acquisition of National City Corp. Standard & Poor's Ratings Services said the ratings ...
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