GMAC Residential Capital Declares Bankruptcy
By Daniel Edstrom
DTC Systems, Inc.
According to Residential Funding Corporation, GMAC was one of the largest entities securitizing loans in 2000. This bankruptcy probably has an impact on nearly every single GMAC based loan or loan that was securitized by GMAC. Many of the GMAC deals pledged the loans to the trusts but never actually perfected the transfer. This could mean that your “lender”, “creditor” or “owner” of these loans is one of the many related entities of Residential Capital (RESCAP) – which may be a problem because they have probably been paid in full. Many of these entities had a security interest in the money advanced to fund the loans, even though they were not the named lender. Many of these entities were required and obligated to make payments on the borrowers loans – and they did in fact make payments. Many of these entities had guarantee agreements with other parties (such as servicers) to reimburse them for payments of principal and interest made on borrowers loans.
Here is the list of related entities RESCAP is attempting to consolidate into one bankruptcy:
- ditech, LLC
- DOA Holding Properties, LLC
- DOA Properties IX (Lots-Other), LLC
- EPRE LLC Equity Investment I, LLC
- ETS of Virginia, Inc.
- ETS of Washington, Inc.
- Executive Trustee Services LLC
- GMAC – RFC Holding Company, LLC
- GMAC Model Home Finance I, LLC
- GMAC Mortgage USA Corporation
- GMAC Mortgage, LLC
- GMAC Residential Holding Company, LLC
- GMAC RH Settlement Service, LLC
- GMACM Borrower LLC
- GMACM REO LLC
- GMACR Mortgage Products, LLC
- HFN REO SUB II, LLC
- Home Connects Lending Services, LLC
- Homecomings Financial Real Estate Holdings, LLC
- Homecomings Financial, LLC
- Ladue Associates, Inc.
- Passive Asset Transactions, LLC
- PATI A, LLC PATI B, LLC
- PATI Real Estate Holdings, LLC
- RAHI A, LLC
- RAHI B, LLC
- RAHI Real Estate Holdings, LLC
- RCSFJV2004, LLC
- Residential Accredit Loans, Inc.
- Residential Asset Mortgage Products, Inc.
- Residential Asset Securities Corporation
- Residential Capital, LLC
- Residential Consumer Services of Alabama, LLC
- Residential Consumer Services of Ohio, LLC
- Residential Consumer Services of Texas, LLC
- Residential Consumer Services, LLC
- Residential Funding Company, LLC
- Residential Funding Mortgage Exchange, LLC
- Residential Funding Mortgage Securities I, Inc.
- Residential Funding Mortgage Securities II, Inc.
- Residential Funding Real Estate Holdings, LLC
- Residential Mortgage Real Estate Holdings, LLC
- RFC – GSAP Servicer Advance, LLC
- RFC Asset Holdings II, LLC
- RFC Asset Management, LLC RFC
- Borrower LLC
- RFC Construction Funding, LLC
- RFC REO LLC
- RFC SFJV-2002, LLC
This is what on my mind , if a trustee is the holder fopr a company , why don’t he show the owner the estate for life benificary his or her paper work the “trust ” and the terms and conditions of the trust ,I mean how do the benificary or the owner will , no for a start when the trust ends , that stupid , and then ,why would a trustee charge the benificary , a mortgage for property the benificary is a life tenunt on too ? Inman hill apaprtment llc state of geogia , sussex properites llc and sussex corp .how can they do that ? Are their no laws for trustee ? For the looks of it trustee are breaking all of the laws , and no jail no nothing , people are killing them selfs over the dirty forcloser , and the court system is saying nothing or do nothing about it . Carmal just getting bigger ! I say everybosy in the white house and congress vote to have all of these trustee running huge companies voted out , and let the benificary owner take over . And vote it fast too .