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    GMAC ResCap - Wikipedia

    GMAC ResCap, Inc. was a residential mortgage loan originator and servicer based in Minneapolis, United States. As a result of its exposure to subprime lending during the subprime mortgage crisis, the company filed for bankruptcy protection in 2012 and underwent liquidation in December 2013.โ€ฆ See more

    In 1982, Residential Funding Company LLC was formed as a subsidiary of Northwest Bank.
    In 1990, the company was acquired byโ€ฆ See more

    In September 2008, after suffering heavy losses during the subprime crisis, New Jersey Carpenters Health Fund sued the company and theโ€ฆ See more

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  2. What was the National Mortgage Settlement? | Consumer โ€ฆ

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    The agreement is similar to deals that bank regulators struck with other major U.S. lenders and mortgage servicers earlier this year. GMAC Mortgage is a unit of Residential Capital LLC (ResCap), which housed most of the mortgage business of troubled U.S. auto lender Ally Financial Inc and which filed for bankruptcy last year.
    WASHINGTON (Reuters) - The Federal Reserve said on Friday that GMAC Mortgage will make $230 million in cash payments to borrowers, in a move that will end an independent, case-by-case review of potentially flawed foreclosures.
    Last week, Fitch ratings said it had removed GMAC Mortgage, GMAC-RFC and Homecomings Financial from its Ratings Watch Evolving List. The three companies had been on the rating agencies cautionary list while General Motors sold its controlling interest in Residential Capital (ResCap), which serves as the parent of each mortgage organization.
    www.housingwire.com/articles/gmac-homecomings-emerโ€ฆ
    NEW YORK (Reuters) - The Residential Capital LLC affiliate of automaker General Motors Corp may soon join the ranks of U.S. mortgage lenders that failed to navigate the deepening housing crisis.
    www.reuters.com/article/idUSTRE4A4B21/
  4. GMAC Mortgage to pay $230 million as part of foreclosure review

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