UPDATE 2-GMAC targets Northern Rock; sale of ResCap parts

Newswire

(Recasts, adds details; changes dateline from PHILADELPHIA) By Mark McSherry NEW YORK, Nov 21 (Reuters) - U.S. finance company GMAC said on Wednesday it is exploring the sale of parts of its troubled mortgage-lending arm, Residential Capital LLC, and the purchase of a non-U.S. mortgage lender, which sources said was the UK's Northern Rock Plc . GMAC said in a statement it submitted an indication of interest to buy a "large non-U.S. mortgage lending institution," but did not identify ...

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