Press Release

GMAC MORTGAGE HIRES TWO SUBSERVICING VETERANS

HORSHAM, Pa., - November 30, 2005. - GMAC Mortgage Corp. today announced
the hiring of Raymond F. Morris and Sammy J. Long, two subservicing
industry veterans, to join its business development team.

"The GMAC Mortgage subservicing business is booming," said Tom
Donatacci, senior vice president, business development. "We have secured two of
the best and brightest in the industry to help meet increasing client
demand, while at the same time upholding our reputation as a top-level,
customer-service oriented servicer."

Morris comes to GMAC Mortgage Corp. from JPMorgan Chase & Co., where he
was most recently vice president of whole loan originations. While at
JPMorgan Chase, he led all sales efforts on the origination side and
trained middle market and institutional salespeople in the nuances of
non-traditional mortgage products, such as Alt-A and subprime. Prior to
joining JPMorgan Chase, Morris was a correspondent lending divisional
manager for Chase Home Finance. He has also held several executive-level
positions with mortgage companies, including American Residential
Mortgage, Marine Midland Mortgage and Ticor Mortgage Insurance.

Long joins GMAC Mortgage Corp. as director of business development from
Master Financial Inc., based in Orange, California, where he held the
position of business development officer. Long was responsible for
corporate business development on the national level and led sales, budgets,
product development and marketing for the company's subservicing
business. With more than 17 years experience in the mortgage and finance
industries, Long has a strong background in compliance and quality control
with companies including Southern Community Bank & Trust, Wendover
Financial Services Corporation and Wachovia Bank.

As of third quarter end, GMAC Mortgage's subservicing portfolio stands
in excess of $32.5 billion. Third quarter rankings showed the company
jumping from seventh to third place among the country's top
subservicers.

About GMAC Mortgage
GMAC Mortgage Corporation, a wholly owned subsidiary of Residential
Capital Corporation (ResCap), is headquartered in Horsham, PA. GMAC
Mortgage is among the nation's top ten residential mortgage servicers and
originators. As of December 2004, the company's servicing portfolio of
more than $214 billion represents nearly 2 million customers throughout
the nation. GMAC Mortgage is an established leader in the development,
implementation and administration of customized subservicing programs for
financial institutions, government sponsored enterprises, specialty
finance companies, insurance companies, utility companies and investment
banking firms. The company offers a full range of branding options to
support the servicing of multiple products, including first mortgages,
home equity loans and lines and unsecured consumer credit, as well as
multiple asset grades, including non-prime and non-performing loans.

Back to Press Releases