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ResCap's Servicing Continues to Decline.
New York-Mortgage banker Residential Capital Corp. - whose parent recently completed a huge debt swap with bond holders - continued to bleed red ink in the fourth quarter, posting a loss of nearly $1 billion as both its home loan fundings and servicing rights suffered.
Still, among all residential servicers, ResCap, a subsidiary of GMAC Financial Services, ranked fifth nationwide, according to preliminary fourth-quarter figures compiled by this newspaper and the Quarterly Data Report. ResCap, which late last year closed its wholesale channel, funded $8.5 billion in home mortgages in the fourth quarter, a 59% decline from a year earlier.
Its servicing portfolio fell to $393.8 ...
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...more affordable federal loans. His "debt swap" bill would help people reduce their...undergraduate degrees. Under Brown's "debt swap" bill, people with private student...percent fixed interest rate. These new "debt swap" loans would be administered by the...
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- News wire article from: PPI - Pakistan Press International January 6, 2007 700+ words
...refinance to commercial banks/DFIs as debt-swap option to textile industry under its...30 billion. Out of Rs 34 billion of debt-swap, privatized banks (including NBP...Rs 35 million during first quarter of debt-swap. Besides debt-swap, SBP also allowed...
Source: HighBeam Research, ResCap's Servicing Continues to Decline.