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Wachovia Interested in GMAC Residential?(General Motors Acceptance Corp.)(Brief Article)
Charlotte, NC -- The mortgage-minded Wachovia Corp. here is the latest name to surface in the bidding sweepstakes for Residential Capital Corp., the holding company for GMAC Residential and its affiliates.
Industry executives say the banking giant's interest in ResCap makes sense because of its desire to grow its mortgage business not just in the U.S. but overseas. (GMAC-RFC has a large presence in the U.K. market.)
"GMAC is a great company," said one executive who competes against them. "I'm just afraid someone is going to go in and steal the company. I wish we could bid on it."
Among servicers, GMAC Residential, Horsham, Pa., ranks seventh with $276 billion in housing receivables while its affiliate, Homecomings Financial, Minneapolis, ranks 13th with $94 billion. To date, investment bankers have identified a handful of potential bidders including Bank of America, General Electric, Wells Fargo and Kohlberg Kravis & Roberts. (KKR and two partners are still trying ...
- Wachovia Interested in GMAC Residential?
- News wire article from: Mortgage Line Muolo, Paul May 9, 2006 700+ words
...bidding sweepstakes for Residential Capital Corp., the holding company for GMAC Residential and its affiliates. Industry executives...could bid on it." Among servicers, GMAC Residential, Horsham, Pa., ranks seventh with...
- GMAC Residential Funding Expands Loan Guidelines, Offers More Choices for...
- Press release article from: Business Wire October 24, 2005 700+ words
...for homeowners." About GMAC Residential Funding GMAC Residential Funding acquires residential...mortgage lending partners. GMAC Residential Funding is one of six business...subsidiary of Residential Capital Corp. (ResCap), is a leading...
- MN firm fills financial vacuum in resort industry.(GMAC Residential Funding...
- Newspaper article from: Finance and Commerce Daily Newspaper, MN April 25, 2002 700+ words
Byline: Mark Anderson Edina-based GMAC Residential Funding Corp. added leisure time to its growing list...nation's largest timeshare resort financier, the Finova Capital Corp. They left Finova after that lender entered Chapter 11...
- S&P: GMAC, Residential Cap stay on 'creditwatch developing'.
- News wire article from: The America's Intelligence Wire April 3, 2006 700+ words
...s Ratings Services on Monday said its ratings on General Motors Acceptance Corp. and GMAC's subsidiary, Residential Capital Corp., remain on creditwatch with developing implications. S&P said the creditwatch update follows General Motors Corp...
- GMAC Residential Funding Teams With ComplianceEase to Combine Technology...
- Press release article from: Business Wire November 8, 2005 700+ words
...strategic partnership agreement with GMAC Residential Funding. The partnership will effectively...ComplianceAnalyzer(TM), with GMAC Residential Funding's Assetwise Compliance Engine. GMAC Residential Funding's lender partners will...
- GMAC Residential Funding Enhances Assetwise Compliance Engine; Teams up with...
- Press release article from: Business Wire October 24, 2005 700+ words
MINNEAPOLIS -- GMAC Residential Funding announced that it has...ComplianceEase(R) that will integrate GMAC Residential Funding's Assetwise Compliance...evaluate their loans against GMAC Residential Funding's specific guidelines...
- A Visit with Dan Bettenburg: His job is making sure that Assetwise smooths the...
- Magazine article from: Mortgage Technology Kersnar, Scott October 1, 2003 700+ words
...money market heading into 2004, notes GMAC Residential Funding's Dan Bettenburg, the greatest...specialty lenders his company serves. As GMAC Residential Funding's executive vice president...business models." Mr. Bettenburg sees GMAC Residential Funding as having a key role as a...
- GMAC Residential Funding Announces Its First Public Canadian MBS Securitization.
- Press release article from: Business Wire July 7, 2004 700+ words
...that its Canadian business unit, GMAC Residential Funding of Canada, has closed its...addition, the securitization will allow GMAC Residential Funding to continue to make capital...said Bob Conway, managing director, GMAC Residential Funding of Canada. "Using GMAC...
- GMAC Residential and TheResidentClub Announce a Four-Year Strategic Alliance.
- Press release article from: PR Newswire September 8, 2000 700+ words
...Provide Technology Services With GMAC Residential HORSHAM, Pa. and AUSTIN...Sept. 8 /PRNewswire/ -- GMAC Residential Holding Corp., parent company...TheResidentClub's technology with GMAC Residential's customer access capabilities...
- VirPack Announces Seamless Electronic Loan Delivery to GMAC Residential Funding.
- Press release article from: PR Newswire May 23, 2006 700+ words
...Direct, to support delivery to GMAC Residential Funding, Minneapolis, Minn. VirPack Direct conforms to GMAC Residential Funding's electronic image...fully indexed loan files to GMAC Residential Funding for purchase review...
Source: HighBeam Research, Wachovia Interested in GMAC Residential?(General Motors Acceptance...