GMAC to pay back $230M


  • From Bloomberg
  • Last Updated: 1:39 AM, July 27, 2013
  • Posted: 12:34 AM, July 27, 2013

Gmac Mortgage will pay $230 million to compensate borrowers for deficient practices in mortgage loan servicing and foreclosure processing, the Federal Reserve said yesterday. About 232,000 borrowers foreclosed on in 2009 and 2010 will receive checks.

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