MINNEAPOLIS, Jan. 26 /PRNewswire/ -- On January 24, 2007, Residential
Funding Company, LLC ("RFC"), formerly known as Residential Funding
Corporation, in its capacity as master servicer, delivered notices
terminating the servicing rights of Emax Financial Group, LLC ("EMAX") and
subservicing rights of Mortgage Lenders Network USA, Inc. ("MLN") with
respect to loans serviced for RFC or its securitization trusts. MLN had
previously agreed to the termination of the subservicing agreement between
MLN and EMAX as noted in the current report on Form 8 - K filed with the
Securities and Exchange Commission on January 4, 2007. Residential Funding
Company, LLC is an indirect wholly owned subsidiary of Residential Capital,
LLC.
About Residential Capital, LLC
Residential Capital, LLC ( http://www.rescapholdings.com ) is a leading
real estate finance company, focused primarily on the residential real
estate market in the United States, Canada, Europe, Latin America and
Australia. The company's diversified businesses -- GMAC-RFC, GMAC Mortgage,
ditech.com, and Homecomings Financial -- cover the spectrum of the U.S.
residential finance industry, from origination and servicing of mortgage
loans through their securitization in the secondary market. It also
provides capital to other originators of mortgage loans, residential real
estate developers, resort and timeshare developers and healthcare
companies. Residential Capital, LLC is an indirect wholly owned subsidiary
of GMAC LLC.
SOURCE Residential Capital, LLC
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Related links:
http://www.rescapholdings.com
http://www.prnewswire.com/comp/138832.html/
CONTACT:
Media, Stephen Dupont, +1-952-857-6643, or
stephen.dupont@gmacrescap.com , or Investors, Kenneth Fischbach,
+1-888-440-8851, or +1-301-215-6203, or
kenneth.fischbach@rescapholdings.com , both of ResCap
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