Press Release

INDUSTRY VETERAN AND FORMER GMAC MORTGAGE EXEC REJOINS COMPANY AS SENIOR VP

HORSHAM, PA. - July 20, 2005 - GMAC Mortgage Corp. is pleased to announce the return of industry veteran Tom Donatacci to its senior management team. An executive with the company's Capital Markets operation in the late 1990's, Donatacci rejoins as Senior Vice President in the Business Development Group, a fast-growing business unit, where he will assume responsibility for all third-party subservicing sales and marketing.

During his earlier tenure, Donatacci helped build GMAC Mortgage's servicing portfolio and was instrumental in a number of high-profile deals, including the acquisition of the mortgage servicing operations of Wells Fargo Bank. Prior to his first position with the company, Donatacci served for a decade as an executive with PaineWebber and most recently headed the mortgage servicing transactions business at Lehman Brothers/Cohane Rafferty, where he worked on headline-making industry deals, including the sale of GE Mortgage, Fleet Mortgage, Homeside Lending and Principal Residential Mortgage.

"We are delighted that Tom has decided to rejoin the GMAC Mortgage family," said Tony Renzi, Executive Vice President of National Loan Administration. "Subservicing growth is a key element of our strategic business plan, and to successfully achieve our objectives, we must have the right people in the right place. Given Tom's significant industry experience and overall market knowledge, we are positioned to take advantage of the huge market opportunity represented by subservicing."

In his new position, Donatacci will partner with Ken Perkins, Senior Vice President, who will assume responsibility for business operations. In the late '90's, Donatacci and Perkins worked closely together at GMAC Mortgage on various acquisitions. "Rejoining forces with Ken is like putting the team back together," said Donatacci. "I am very excited about the potential for exponential growth in GMAC Mortgage's subservicing business" he continued. "And I'm confident in our ability to achieve the company's goals, including expanding our national subservicing sales force and seeking out growth opportunities through opportunistic acquisitions."

Since January 2004, GMAC Mortgage has seen its subservicing volume nearly double, from $11.6 billion to $22 billion in unpaid principal balance. According to Tony Renzi, "As a non-bank mega subservicer, GMAC Mortgage is uniquely positioned to offer subservicing across the complete spectrum of mortgage loan products, while protecting our clients' bank relationships. Tom's hire is clearly indicative of our leadership position within the subservicing market." Donatacci will be based in GMAC Mortgage's Paramus, NJ office.

About GMAC Mortgage
GMAC Mortgage Corporation, headquartered in Horsham, Pa., originates first and second lien residential mortgages through a nationwide network of retail offices, direct lending centers and Internet sites under the brands gmacmortgage.com and ditech.com. The company services loans for 2 million customers throughout the nation.

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