GMAC Ends Public Reports on ResCap, Draws Criticism – By Dakin Campbell -  GMAC Inc., drew criticism from analysts after halting public filings of quarterly results for its Residential Capital LLC unit.  GMAC’s Chief Financial Officer Robert Hull said the Detroit-based lender will stop releasing reports on ResCap’s performance to save money. Hull spoke on GMAC’s third-quarter conference call today after reporting a loss from continuing operations of $671 million. -  Bloomberg

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Fla. justices consider mediation for foreclosures – By BILL KACZOR — Mediation would be a good way to expedite a flood of mortgage foreclosures, members of a foreclosure task force said Wednesday, but some disagreed on the details in oral arguments before the state Supreme Court.  Florida’s courts are currently trying to cope with more than 290,000 foreclosure cases. – Google AP

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Drastic dropoff in mortgages to Indians in 2008 – By Mark Fogarty, Today correspondent – Indian Country Today

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follow up …  – Property Values Set to Fall 49% From Bubble Peak to Long-Run Average -  What we know today based on the best information is that values will fall a total of between 49% to 60% from the bubble top to the trend. Still ahead is a fall in property values of between 20% to 43%. … – Michael White – NewObservations.net …

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Mike posted this on Nov. 1 – Property Values Set to Fall 43% From Current Depressed Level
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Highly Leveraged Borrowers to Compete for Limited Dollars – Companies to vie for lenders’ attention as $800bn wave of debt comes due in next five years.  Excerpts from Refinancing the Buyout Boom: Profiles of Select Leveraged Credits (complimentary download) … Each dollar of the more than $800 billion in debt maturing in this period will need to be addressed on a company-by-company and highly negotiated basis.  – Research Recap 

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Consumer Borrowing Falls Sharply – By THE ASSOCIATED PRESS – Consumers borrowed less for a record eighth consecutive month in September amid rising unemployment and tight credit conditions. Some economists worry that the declines in borrowing will be a drag on the fledgling recovery.  The Federal Reserve said on Friday that borrowing fell $14.8 billion in September. The 7.2 percent decline was the biggest since July and was larger than the $10 billion drop economists expected. – NY Times