ResCap Cash Flows to be Restated - Mortgage Forums for Mortgage Brokers

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ResCap Cash Flows to be Restated

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03-18-2006, 10:13 PM

Veronica Corningstone Veronica Corningstone is offline

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ResCap Cash Flows to be Restated

General Motors Corp. announced it will delay filing its annual report on Form 10-K with the SEC due to an accounting issue related to the classification of cash flows at Residential Capital Corp. ResCap's accounting issue is regarding erroneous classification of cash flows from certain mortgage loan transactions as cash flows from operations instead of cash flows from investing activities, GM said.

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