GMAC Residential Funding of Canada Limited Completes Purchase of ResMor Trust Company



    TORONTO and CALGARY, Nov. 5 /CNW/ - GMAC Residential Funding of Canada
Limited, a subsidiary of Residential Capital, LLC (GMAC ResCap) has completed
the purchase of ResMor Trust Company (ResMor), a leading provider of mortgages
through Canada's broker community.
    The purchase of ResMor was approved by various Canadian regulatory
agencies.  Terms of the acquisition were not disclosed.
    ResMor Trust Company (www.resmor.com) is a federally licensed trust
company operating across Canada focused on residential mortgage lending,
mortgage servicing and deposit products. It currently has $4 billion of
mortgages under administration representing almost 24,000 homeowners. ResMor
originates all of its products through the brokerage community.  In addition,
ResMor is a member institution of Canada Deposit Insurance Corporation (CDIC).
    GMAC Residential Funding of Canada sought the acquisition to grow and
diversify its Canadian business operations, according to Barry Dunleavy,
Senior Managing Director of the Americas for GMAC ResCap's International
Business Group.
    ResMor Trust's management team, led by James Clayton, President and Chief
Executive Officer, and Gerry Wagner, Vice President and Chief Financial
Officer, will continue with ResMor Trust in their current positions.

    About GMAC Residential Funding of Canada Limited

    Founded in 2002, GMAC Residential Funding of Canada (GMAC-RFC) has had
mortgage originations in excess of $4.5 billion, with $3.2 billion currently
under administration.  The company has issued over $1 billion of securities to
the Canadian market since its arrival in 2002.  GMAC-RFC
(www.gmacresidential.ca) is an independent subsidiary of GMAC ResCap
(Residential Capital, LLC), a leading real estate finance company, focused
primarily on the residential real estate market in the United States, Canada,
Europe, Australia, and Latin America. The company's diversified businesses
cover the spectrum of the residential finance industry, from origination and
servicing of mortgage loans through their securitization in the secondary
market. GMAC ResCap also provides capital to other originators of mortgage
loans, residential real estate developers, and resort and timeshare
developers.
    GMAC ResCap (http://www.gmacrescap.com) is an indirect wholly owned
subsidiary of GMAC Financial Services. GMAC Financial Services is a global,
diversified financial services company that operates in approximately 40
countries in automotive finance, real estate finance, insurance and commercial
finance businesses. GMAC was established in 1919 and currently employs about
31,000 people worldwide. At Dec. 31, 2006, GMAC held more than $287 billion in
assets and earned net income for 2006 of $2.1 billion on net revenue of $18.2
billion. For more information, please go to http://www.gmacfs.com.

    About ResMor Trust Company

    ResMor Trust Company (www.resmor.com) is a federally licensed trust
company operating across Canada focused on residential mortgage lending,
mortgage servicing and deposit products. It currently has $4 billion of
mortgages under administration representing almost 24,000 homeowners. ResMor
originates all of its products through the brokerage community.




For further information:

For further information: Dawn Erceg, Director of Marketing and
Communications, GMAC Residential Funding of Canada, (416) 234-3170,
Dawn.Erceg@gmacrfc.com, Web Site: http://www.gmacrfc.com,
http://www.gmacresidential.ca, http://www.resmor.com

Organization Profile

GMAC RESIDENTIAL FUNDING OF CANADA LIMITED

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RESMOR TRUST COMPANY

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