Michael A. Carpenter, GMAC Inc.'s newly installed chief executive, says his top priority is to stop its troubled mortgage unit from dragging down the rest of the $178 billion-asset company. Carpenter, ...

It’s not over for bankrupt mortgage company ResCap, as famous shortseller John Paulson joins the game and bets big on the company. That left enough business for Paulson to have huge hope in the ...

Wells Fargo and Residential Capital, also called ResCap, settled mortgage claims dating back to the financial crisis over toxic mortgage securities, according to an article in The Wall Street Journal ...

The judge overseeing Residential Capital LLC’s bankruptcy case approved a probe of deals the mortgage company cut with parent Ally Financial Inc. and others before it sought court protection from ...

MINNEAPOLIS -- GMAC LLC said Wednesday it completed a more than $60 billion refinancing and funding package aimed at improving the liquidity of its struggling subsidiary, mortgage lender Residential ...

Ally Financial Inc.'s troubled mortgage subsidiary filed for Chapter 11 bankruptcy early Monday, potentially paving the way for Ally to sever itself from substantial litigation that has been a drag on ...

Residential Capital LLC, the mortgage lending unit of U.S. government-owned Ally Financial Inc , has filed a bankruptcy reorganization plan that calls for unsecured creditors to recover 36.3 cents on ...

CHARLOTTE, N.C. — The U.S. government is hoping that Monday's bankruptcy filing by Ally Financial Inc.'s troubled mortgage business will help the company repay its government bailout faster.

Financially battered Residential Capital, based in Bloomington, will be showing the door to another 250 employees this month, with more job cuts to follow by the end of the year, the company announced ...