GMAC commingled cash. What about the mortgage itself?

If GMAC and other mortgage servicers have no qualms about commingling funds for which they have been entrusted (by investors); it is easy to understand they have no problem jerking a single homeowner around with his loan modification or short sale.  Anything to make a buck.

NEW YORK, March 4 (Reuters) – Moody’s Investors Service on Thursday said [...]

GMAC sucks down another $3.8 billion!

The U.S. taxpayer (READ: you and I) now own a majority interest in GMAC Financial Services, which this week received a capital infusion of $3.79 billion from the US Treasury Department.
The additional aid means that the U.S. government now owns 56 percent of GMAC, totaling $16.3 billion. Much of the aid comes as the financial services giant continues to reel [...]

9 million promised but only in reality 31,000 helped

While the government has promised help to 9 million mortgage borrowers, just over 31,000 homeowners have received a permanent loan modification under the Obama administration’s mortgage relief plan.   This is a big jump from the ~1,700 noted in September but still a big setback for the government’s embattled effort to stem the foreclosure crisis.
Lenders [...]