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Residential Capital LLC

Nationstar Mortgage to Acquire $10.4 Billion in Servicing Assets From Bank of America


Nationstar Mortgage LLC, a wholly-owned subsidiary of Nationstar Mortgage Holdings Inc., has signed a definitive agreement to acquire approximately $10.4 billion in residential mortgage servicing rights, as measured by unpaid principal balance, from Bank of America. The acquired servicing portfolio consists entirely of loans in government-sponsored enterprise (GSE) pools. Nationstar will fund a portion of the MSR purchase price with the proceeds of a 65 percent co-investment by Newcastle Investment Corporation.Click to continue

Nationstar Agrees to Acquire Mortgage Servicing Assets of ResCap


Nationstar Mortgage Holdings Inc. has announced that it has signed a definitive agreement to acquire certain residential mortgage servicing assets and other assets from Residential Capital LLC and related entities (ResCap) in connection with ResCap’s proposed asset sale pursuant to a plan under the U.S.Click to continue

Ally Financial Mortgage Subsidiary ResCap Files for Chapter 11


Residential Capital LLC (ResCap), a subsidiary of Ally Financial Inc., has announced that its Board of Directors voted to file for Chapter 11 protection along with 50 of its subsidiaries. ResCap’s mortgage origination, servicing and other business activities, conducted through its subsidiaries, including GMAC Mortgage, will continue to operate as the Chapter 11 proceeds. Undergoing the Chapter 11 process will:Click to continue

Ally Financial's Mortgage Subsidiaries Reach Agreement With Fannie Mae on Repurchase Exposure

Black Gavel Pic/Credit: Brand X Pictures

Ally Financial Inc. (Ally) has announced that its mortgage unit, Residential Capital LLC (ResCap), and certain ResCap subsidiaries have reached an agreement with Fannie Mae to resolve potential repurchase exposure for breaches of selling representations and warranties. The agreement covers loans serviced by GMAC Mortgage on behalf of Fannie Mae prior to June 30, 2010 and all mortgaged-backed securities (MBS) that Fannie Mae purchased at various times prior to the settlement, including private label securities.Click to continue