ResCap Completes Sale Of Origination and Capital Markets Platform Assets To Walter Investment Management Corp.

  ResCap Completes Sale Of Origination and Capital Markets Platform Assets To
  Walter Investment Management Corp.

Business Wire

NEW YORK -- January 31, 2013

Residential Capital, LLC (ResCap) has completed the sale of the originations
and capital markets platform to Walter Investment Management Corp. The sale
also includes the Fannie Mae mortgage servicing rights (MSR) portion of
ResCap’s servicing portfolio, representing approximately $50.4 billion in
unpaid principal balance (UPB) at August 31, 2012. The United States
Bankruptcy Court, Southern District of Manhattan had approved the sale of the
assets last November.

“We are pleased to complete the sale of these assets to Walter Investment
Management,” said ResCap Chief Executive Officer Thomas Marano. “Since the
Court’s approval of the deal, we have been working diligently with the
executives at Walter, our employees and Fannie Mae to ensure a smooth
transition for homeowners.”

The Court-approved sale of ResCap’s servicing platform and related assets to
Ocwen Loan Servicing, LLC and the sale of a whole loan portfolio to Berkshire
Hathaway are still pending completion.

Centerview Partners LLC and FTI Consulting are acting as financial advisors to
ResCap. Morrison & Foerster LLP is acting as legal advisor to ResCap. Morrison
Cohen LLP is advising ResCap’s independent directors.

About Residential Capital (ResCap)

Residential Capital, LLC is one of the largest originators, sellers and
servicers of residential mortgage loans in the United States. ResCap is a
wholly owned subsidiary of Ally Financial Inc. ResCap conducts certain of its
mortgage operations through GMAC Mortgage, a wholly owned subsidiary that is
not affiliated with General Motors. ResCap is an approved Fannie Mae and
Freddie Mac servicer and approved issuer for Ginnie Mae.

ResCap is a leader in facilitating mortgage refinancing and mortgage
modifications through HAMP and other government programs. At March 31, 2012,
ResCap was servicing over 2.4 million mortgage loans, with an aggregate unpaid
principal balance of approximately $374 billion. Of these, approximately 68%
of the loans (by unpaid principal balance) are owned, insured or guaranteed by
Fannie Mae, Freddie Mac or Ginnie Mae. Since 2008, GMAC Mortgage has executed
over 784,000 default workouts for borrowers. GMAC Mortgage is a leading HAMP
participant and has effected more than 51,000 permanent HAMP modifications to
date. GMAC Mortgage was the first major originator of loans to roll out the
Treasury’s HAMP 2.0 program. ResCap’s executive offices are located in New
York City, and it has major operations in Fort Washington, Pennsylvania,
Minneapolis, Minnesota, Waterloo, Iowa, Dallas, Texas, and Burbank,


Residential Capital, LLC
Susan Fitzpatrick, 215-734-4400
Director of Communications
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