NEW YORK (AP) — GMAC Financial Services says its net loss narrowed in the third quarter as its auto-lending unit turned a profit.
But the former lending arm of General Motors Co. says its results continued to be weighed by losses in its struggling home-mortgage unit, though the loss was smaller than last year.
GMAC said Wednesday that its loss fell to $767 million, compared with $2.52 billion a year earlier.
Excluding several discontinued business lines, the company earned $77 million.
The news comes a week after the Treasury Department said it was in talks with the lender over a third injection of taxpayer aid.
