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As its parent company restructures, GMAC Mortgage L.L.C. is closing a Shelton loan office at a cost of 60 jobs.
Based in Horsham, Pa., GMAC Mortgage is one of the largest residential mortgage originators in the nation. After recording a $705 million profit last year, the company lost $911 million in the first quarter.
Parent company GMAC L.L.C. announced this week a restructuring that will cut 3,000 jobs nationally, a quarter of its mortgage operations.
GMAC Mortgage will complete the Shelton closure by the end of November.
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