Press Release

 ForSaleByOwner.com Selects ditech.com as Online Mortgage Services Provider

Costa Mesa, Calif. - August 15, 2006 -

Home buyers who purchase homes directly from a seller now have easier access to home loans online through an exclusive new marketing alliance between ForSaleByOwner.com and ditech.com. ForSaleByOwner.com is the nation's leading for sale by owner online residential real estate marketplace. ditech.com, one of the most recognized direct online mortgage lenders, is a business unit of GMAC Mortgage, one of the nation's largest mortgage lenders.

"Offering our customers the mortgage services of ditech.com reflects our company's mission to make the home buying and selling process as easy, as fast, and as profitable as possible," says ForSaleByOwner.com COO Colby Sambrotto. "Since 1997, ForSaleByOwner.com has saved home sellers millions of dollars by providing them with the tools and support they need to successfully buy and sell their own homes."

Under the terms of the marketing alliance, ditech.com will be the exclusive mortgage services provider offered online to ForSaleByOwner.com customers. The partnership brings together two innovative organizations that share complimentary philosophies. Both provide consumers with competitive products and services necessary to complete their transactions while delivering a high level of customer service without charging unnecessary premiums.

ditech.com offers consumers a variety of products across the credit spectrum, including first mortgages, fixed-rate second mortgages, variable equity lines of credit, flat fee and no closing cost option programs. To better serve the needs of ForSaleByOwner.com customers, ditech.com has assembled a dedicated team of loan officers specializing in the vast selection of purchase money products available to them.

"Our customers look to us for a high level of service and expertise on ForSaleByOwner.com," adds Sambrotto. "ditech.com has set the industry standard for providing customers with the most competitive rates, best service, and easiest process. Our alliance with ditech.com will make ForSaleByOwner.com an even more valuable partner for home buyers."

"On behalf of the home buyers we serve every day throughout the country, we are very excited about our partnership with ForSaleByOwner.com", said Frank Destra, ditech's Senior Vice President for National Sales. "Our expertise in direct lending, combined with innovative new technology platforms, such as our near paperless mortgage experience called eWelcome service, makes our partnership with ForSaleByOwner.com a perfect fit."

About ditech.com
Founded in 1995, ditech.com®, based in Costa Mesa, Calif., is a business unit of GMAC Mortgage, which is an indirect owned subsidiary of Residential Capital Corporation, a leading real estate finance company. ditech.com delivers excellent customer service along with the security of being part of one of the largest mortgage companies in America. ditech.com offers the consumer a variety of products, including first mortgages, variable equity lines of credit and no closing cost equity seconds. The online capabilities allow the customer to communicate with knowledgeableloan agents from home, work or on the road.

Residential Capital Corporation (http://www.rescapholdings.com) is a leading real estate finance company, focused primarily on the residential real estate market in the United States, Canada, Europe and Latin America. Our diversified businesses -- GMAC-RFC, GMAC-RFC Securities, GMAC Mortgage, ditech.com, GMAC Bank, GMAC Real Estate GMAC-RFC Securities and Homecomings Financial -- 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. Residential Capital Corporation is an indirect wholly owned subsidiary of General Motors Acceptance Corporation (GMAC).

About ForSaleByOwner.com
ForSaleByOwner.com is the nation's leading for sale by owner marketplace, bringing home buyers and sellers together online. Since 1997, ForSaleByOwner.com has saved home sellers millions of dollars by providing them with the tools and support they need to successfully sell their own homes. The company charges an advertising fee for homeowners to list a home for sale on the site. Prospective home buyers can browse the ForSaleByOwner.com database of properties at no charge. ForSaleByOwner.com is owned by Tribune Interactive, a subsidiary of the Tribune Company.

Back to Press Releases