UPDATE 3-GMAC expects more subprime mortgage pressures

Newswire

(Recasts; adds background, details) By Dena Aubin NEW YORK, March 28 (Reuters) - GMAC's mortgage lending arm expects more pressure from subprime lending problems, but has ample liquidity to weather the current market turbulence, GMAC officials said on Wednesday. Tighter lending standards and a cutback in subprime loan origination should also ease the pressures at Residential Capital, GMAC's mortgage finance holding company, GMAC Chief Executive Eric Feldstein said at an investor ...

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