press release

Integrating Servicing Operations to Enhance Customer Service; Improve Operating Efficiencies the Vision of Creating a "Debt Servicing Utility"

Minneapolis, MN - November 8, 2006 -

Homecomings Financial Servicing Operations to Integrate with GMAC Mortgage Servicing Operations

In its drive to enhance customer service and to provide its customers more choices, the Residential Finance Group of Residential Capital, LLC (ResCap) is launching an effort to fully integrate its U.S. servicing operations.

The initiative will involve the integration of its primary, subservicing and master servicing operations (which includes the servicing operations of GMAC Mortgage, Homecomings Financial and GMAC-RFC Master Servicing) to form a Debt Servicing Utility (DSU) for ResCap?s domestic servicing portfolios. A DSU is a common servicing platform capable of supporting any loan product (mortgage, consumer loan, lease) any brand or any servicing requirement.

The key objective of our DSU and operational integration efforts, according to Tony Renzi, Chief Operating Officer of ResCap?s Residential Finance Group, is to continue to increase the value that GMAC Mortgage and Homecomings Financial delivers to homeowners as well as investors and subservicing clients, through enhanced customer service, improved asset performance and more efficient operations.

"By providing our associates with better technology and tools, increasing the speed and volume of available portfolio information, and expanding the flexibility of our servicing systems, we can provide more choices and advantages for our homeowners, investors and clients," Renzi added.

GMAC Mortgage?s servicing operations services about 2.4 million households nationwide; Homecomings Financial?s servicing operations services about 850,000 households and the company's master servicing operations oversees about 60 servicers. The company's combined DSU servicing operation ranks as the sixth largest servicing operation in the mortgage industry, and the second largest subservicer, managing a total portfolio equating to $424 billion in unpaid principal balance (UPB) according to Inside Mortgage Finance (Aug. 4, 2006 issue).

The organization services loans that are originated or acquired through one of ResCap's origination channels (GMAC Mortgage, ditech.com, Homecomings Financial, and GMAC-RFC). The company?s subservicing operation services loans across more than 100 relationships and a dozen brands. The company services a range of products, including fixed and adjustable rate first lien mortgage loans, open-end lines of credit, closed-end home equity loans and unsecured consumer loans.   In the recent J.D. Power and Associates Primary Mortgage Servicing study, GMAC Mortgage ranked No. 4 among the 40 largest mortgage servicers in the United States, based on a study of 12,799 homeowners conducted in March and April 2006.

"Using J.D. Power?s survey results as one of our benchmarks, we intend to integrate our people, technology and other business systems to achieve higher levels of customer satisfaction in the months and years to come," Renzi said. "The bottom line: mortgage customers want flexibility of choice, quality service and consistency they can count on in all of our service offerings. Our job is to be fanatical about providing quality service delivery and relentless in our pursuit of perfecting servicing programs for our customers, investors and clients."

"If we execute well and deliver on these objectives, our customers will reward us not only with their loyalty, but an opportunity to expand our relationships with them in providing additional products and services in the future," Renzi added.

About GMAC Mortgage and Homecomings Financial
GMAC Mortgage, LLC (http://www.gmacmortgage.com) and Homecomings Financial, LLC (http://www.homecomings.com) are wholly owned subsidiaries of Residential Capital, LLC (ResCap). GMAC Mortgage is among the nation's top ten residential mortgage servicers and originators. Homecomings Financial is a leading mortgage servicer as well as a leading wholesale mortgage lender.

About Residential Capital, LLC
Residential Capital, LLC (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. Its diversified businesses -- GMAC-RFC, GMAC Mortgage, ditech.com, GMAC Real Estate, GMAC Bank, 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 on the secondary market. The company also provides capital to other originators of mortgage loans, residential real estate developers, resort and timeshare developers and healthcare companies. Residential Capital, LLC is an indirect wholly owned subsidiary of GMAC Financial Services (GMAC LLC).

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