Ixe in Talks on GMAC Mexico

Mexico’s Ixe Grupo Financiero is in preliminary discussions with Residential Capital to purchase mortgage lenders GMAC Hipotecaria and GMAC Financiera. To keep up with the country’s larger banks, it is looking to expand in a growing Mexican mortgage sector that has largely been free of the problems plaguing lenders north of the border. Ixe has not yet determined the final terms and conditions.