![\"\"](\"http:\/\/www.egmcartech.com\/wp-content\/uploads\/2009\/10\/gmac_building_wide_main_a.jpg\")
<\/p>\n<\/p>\n
In a move announced today, the administration has said that they will provide an additional $3.8 billion in government aid to GMAC Financial Services, raising its stake in the company from 35% to 56%. GMAC has thus far been the recipient of $12.5 billion in government aid sonic December ‘08. The funds are said to help the company as they are faced with a balance sheet comprised of one third home loans.<\/p>\n
A bondholder of the company’s who wishes to remain anonymous, has mentioned that GMAC would be wise to sell off their mortgage servicing business, which processes borrowers payments and has a value of about $3 billion. The company’s mortgage business lost about $600 million in the third quarter, while the auto finance operation made about $164 million after taxes.<\/p>\n
<\/span><\/p>\n Like GM, GMAC has undergone a top management change, as CEO Al de Molina resigned and was replaced by former Citigroup executive Michael Carpenter. The company has been unable to raise private capital after a government analysis determined that approximately $11.5 billion in funds were needed for the company to remain efficient.<\/p>\n – By: Stephen Calogera<\/em><\/p>\n Source: Reuters <\/a><\/p>\n In a move announced today, the administration has said that they will provide an additional $3.8 billion in government aid to GMAC Financial Services, raising its stake in the company from 35% to 56%. GMAC has thus far been the recipient of $12.5 billion in government aid sonic December ‘08. The funds are said to […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-116922","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/116922","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=116922"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/116922\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=116922"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=116922"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=116922"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}<\/img><\/a>
\n<\/img><\/a><\/p>\n
\n<\/img><\/a>
<\/img><\/a>
<\/img><\/a>
<\/img><\/a>
<\/img><\/a>\n<\/div>\n","protected":false},"excerpt":{"rendered":"