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November 23, 2009 12:41 PM ET
Banks and Thrifts
GMAC ResCap, Inc.
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Company Overview

GMAC ResCap, Inc. provides capital solutions to businesses in the United States and Canada. It focuses on buying and securitizing single-family mortgages, mortgage securitization, acquisition of mortgage loans in the secondary market, wholesale lending, warehouse lending, and master, primary, and special loan servicing. The company also offers residential mortgage-backed securities; mortgage origination, acquisition, and servicing; loans, project equity, and other capital solutions for the United States homebuilders and developers; resort finance; healthcare finance; and distressed residential mortgage assets resolution services. In addition, it provides insurance claims services, including ...

Detailed Description

One Meridian Crossing

Minneapolis, MN 55432

United States

Founded in 1982

Phone:

952-857-7000

Fax:

214-861-5116

www.gmacrfc.com

Key Executives

Chief Executive Officer and President
Acting Chief Financial Officer
Chief Operating Officer
Chief Executive Officer of GMAC Financial Services
Age: 52
President of Residential Capital Group and Member of Executive Committee
Compensation as of Fiscal Year 2009.

Key developments for GMAC ResCap, Inc.

GMAC-RFC Announces Resignation of Jeff Knight as Director of Marketing
07/16/2009

GMAC-RFC director of marketing Jeff Knight is leaving the firm after six years to set up his own marketing consultancy. Knight has been made redundant along with the three other remaining members of GMAC's marketing team.

Residential Funding Company, LLC and GMAC Mortgage, LLC Announce Extension of Mortgage Loans and Home Equity Lines of Credit Facility to July 31, 2009
07/6/2009

On April 18, 2008, Residential Funding Company, LLC and GMAC Mortgage, LLC (GMACM) (each of which are subsidiaries of ResCap), entered into a Loan and Security Agreement with GMAC Inc., as lender, to provide company and GMACM with a revolving secured credit facility, which is secured by RFC's and GMACM's servicing rights and related contractual rights under certain pooling and servicing agreements and loan servicing agreements with respect to pools of mortgage loans and home equity lines of credit. On June 30, 2009, the loan repayment dates for each of the MSR Facility, the November Facility and the June Facility were extended from June 30, 2009 to July 31, 2009.

Residential Funding Corporation and GMAC Mortgage, LLC Entered into a Loan and Security Agreement with GMAC LLC
10/23/2008

As previously disclosed, on April 18, 2008, Residential Funding Corporation and GMAC Mortgage, LLC, both subsidiaries of Residential Capital, LLC, entered into a Loan and Security Agreement with ResCap's parent, GMAC LLC, as lender, to provide RFC and GMAC Mortgage with a revolving credit facility. The facility is secured by RFC's and GMAC Mortgage's servicing rights and related contractual rights under certain pooling and servicing agreements and loan servicing agreements with respect to pools of mortgage loans and home equity lines of credit. Under the terms of the Loan and Security Agreement, RFC and GMAC Mortgage were permitted to request loans from the lender until October 17, 2008, at which point the loans would mature, unless refinanced or repaid earlier. On June 1, as previously disclosed, RFC, GMAC Mortgage and GMAC entered into an amendment to increase GMAC's maximum lending commitment under the Loan and Security Agreement from $750 million to $1.2 billion.

Similar Private Companies By Industry

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Leeds Federal Bankshares United States
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GE Capital Mortgage Services Inc. United States
Del Mar Income Partners Ltd. United States

Recent Private Companies Transactions

Type
Date		 Target
Merger/Acquisition
March 31, 2009 		Residential Funding Securities Corporation
Merger/Acquisition
March 31, 2009 		RFC Investments Limited
Bankruptcy
March 13, 2009 		Paramount Financial, Inc.


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