GMAC Mortgage Receives Best in Class Fitch Rating.Company Solidifies Its Place as Subservicing Industry Leader HORSHAM, Pa. -- GMAC GMAC General Motors Acceptance Corporation GMAC Graduate Management Admission Council GMAC Give Me A Call GMAC Genetic Manipulation Advisory Committee GMAC Genetic Modification Advisory Committee (Singapore) GMAC Give Me A Chance Mortgage, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , the nation's second largest subservicer, has been assigned a residential primary subservicer rating of 'RPS1' from Fitch Ratings Fitch Ratings An international rating agency for financial institutions, insurance companies, and corporate, sovereign, and municipal debt. Fitch Ratings has headquarters in New York and London and is wholly owned by FIMALAC of Paris. . The first company to receive a subservicer rating, GMAC Mortgage's RPS rps abbr. revolutions per second 1 status applies to both prime and non-prime assets, including first mortgages, closed-end second mortgages and home equity lines of credit. "Receiving this Fitch rating validates our leading position in the subservicing marketplace," said Tom Donatacci, senior vice president of business development at GMAC Mortgage. "Not only to be rated, but to receive the highest rating, is a recognition to be proud of - for our clients and our entire organization. This achievement, coupled with our recent rise from the third to the second largest subservicer in the nation, positions us to continue driving the evolution of the subservicing market." Fitch based GMAC Mortgage's RPS1 rating on a number of factors, including the company's solid loan administration practices, experienced management team, comprehensive internal controls, robust technology platform and demonstrated ability to provide effective subservicing for third party portfolios. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the National Mortgage News Quarterly Data Report, GMAC Mortgage had a subservicing portfolio in excess of $54.2 billion at the end of the third quarter 2006, increasing its UPB UPB University of Paderborn (NRW, Germany) UPB Universidad Pontificia Bolivariana (Spanish) UPB Universal Powerline BUS UPB Unpaid Principal Balance (mortgage and asset-based banking) (unpaid principal balance) by 61 percent from the third quarter 2005. "Strong ratings from industry experts such as Fitch, combined with our single-source servicing system and experienced associates, allow us to provide our clients the flexibility to execute various secondary marketing options, including securitization Securitization The process of creating a financial instrument by combining other financial assets and then marketing them to investors. Notes: Mortgage backed securities are a perfect example of securitization. May also be spelled as "securitisation. , delivery to GSEs (government service enterprises) and whole loan transactions," Donatacci continued. GMAC Mortgage offers interim and retained subservicing for a variety of products and asset grades, providing private labeled or GMAC Mortgage-branded servicing. About GMAC Mortgage Subservicing GMAC Mortgage, LLC, based in Horsham, Pa., is an indirect wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of GMAC ResCap (Residential Capital, LLC). The company is ranked among the nation's top ten residential mortgage servicers and originators, and is the second largest subservicer in the country. Among its core competencies, GMAC Mortgage has established itself as a leader in the development, implementation and administration of customized subservicing programs for financial institutions, government sponsored enterprises, specialty finance companies, insurance companies, utility companies and investment banking firms. The company offers a full range of branding options to support the servicing of multiple products, including first mortgages, home equity loans and lines and unsecured consumer credit, as well as multiple asset grades, including nonprime and nonperforming loans. Residential Capital, LLC is an indirect wholly owned subsidiary of GMAC LLC. For more information about GMAC Mortgage Subservicing, contact 1.877.300.GMAC or visit http://www.gmacsolutions.com. GMAC Mortgage is a licensed mortgage lender and an Equal Housing Opportunity Lender. About GMAC ResCap GMAC ResCap (Residential Capital, LLC) is a leading real estate finance company, focused primarily on the residential real estate market in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Canada, Europe and Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. . Our diversified businesses -- GMAC-RFC, GMAC Mortgage, LLC, ditech.com, GMAC Bank, GMAC Real Estate GMAC Real Estate is a real estate franchise company in the United States, with 1300 locations in North America, and more than 22,000 real estate agents. The company is a division of GMAC Home Services, part of the larger General Motors Acceptance Corporation, which provides , and Homecomings Financial, LLC -- cover the spectrum of the U.S. residential finance industry, from origination and servicing of mortgage loans through their securitization in the secondary market. We also provide capital to other originators of mortgage loans, residential real estate developers, resort and timeshare developers and healthcare companies. GMAC ResCap (http://www.rescapholdings.com) is an indirect wholly owned subsidiary of GMAC LLC. |
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