What happened GMAC mortgage?

What happened GMAC mortgage?

GMAC ResCap, Inc. was a residential mortgage loan originator and servicer based in Minneapolis, United States. As a result of its exposure to subprime lending during the subprime mortgage crisis, the company filed for bankruptcy protection in 2012 and underwent liquidation in December 2013.

Who took over GMAC mortgage LLC?

Ocwen Loan Servicing, LLC
Effective February 15, 2013, Ocwen Loan Servicing, LLC acquired certain assets of GMAC Mortgage, LLC, pursuant to a Sale Order entered in connection with the bankruptcy cases of Residential Capital, LLC and certain of its affiliated debtors.

What happened to Ameriquest mortgage?

NEW YORK (Reuters) – Ameriquest Mortgage Co, the largest U.S. subprime lender as recently as 2005, is closing, the latest home loan provider to shut down amid the nation’s housing market slump.

When did GMAC become Ally Financial?

May 2009
In 2006, General Motors sold a 51 interest in GMAC to Cerberus Capital Management, a private equity firm. Hard times brought about catastrophic losses for GMAC ResCap in 2008. In May 2009 GMAC Bank was rebranded to become Ally Bank.

How do I get a lien release from GMAC mortgage?

To have your lien released, contact Ally at 888-925-2559 or by chat to get your payoff amount. If you have the funds available, you’ll need to pay the remaining balance in order to get the lien released. Once Ally has the full amount, the company will release your lien.

How do I get a lien release from GMAC Mortgage?

Who acquired Argent Mortgage?

Citigroup bought the remnants of ACC’s Argent wholesale mortgage origination division as well as the servicing rights to collect on more than $45 billion in home loans. Terms of the deal were not disclosed.

Who is the CEO of Ally Financial?

Jeffrey J. Brown (Feb 2, 2015–)
Ally Financial/CEO

Jeffrey J. Brown (JB) was named chief executive officer of Ally Financial Inc., in February 2015, and also serves on its board of directors. Brown is driving Ally’s evolution as a leading digital financial services company.

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