UPDATE 2-GMAC lends $468 mln to struggling mortgage unit

Newswire

(Adds details on de Molina, former Bear Stearns executives) NEW YORK, April 24 (Reuters) - Residential Capital LLC, the money-losing mortgage unit of finance company GMAC LLC, said on Thursday it borrowed $468 million from its parent to add liquidity until it can arrange longer-term financing to fund operations. In a U.S. Securities and Exchange Commission filing, ResCap said its Residential Funding Co and GMAC Mortgage LLC units drew the sum on April 18 from a $750 million credit ...

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