MINNEAPOLIS, Feb. 3 /PRNewswire/ -- GMAC-RFC announced today that it has
been ranked first in the combined issuance of 'private label' mortgage-backed
(MBS) securities for the fourth year in a row by Inside Mortgage Finance
Publications.  GMAC-RFC's 1998 MBS issuances totaled almost $24 billion, which
represents an increase in excess of 70 percent over 1997, and a nationwide
market share of more than 18 percent, according to the newsletter Inside MBS &
ABS.  GMAC-RFC also issued $4.9 billion in asset-backed (ABS) securities, for
a joint total of almost $28.9 billion.
    "We're extremely pleased to again be recognized for this accomplishment.
But we are equally proud of our firm's loyal client base and committed
partners who have helped us achieve a sustained record of success in this
highly competitive securities market," said Bruce Paradis, president and CEO.
GMAC-RFC was first among 25 national MBS issuers listed by the trade
publication, outdistancing its closest competitor in the category by more than
$6 billion.
    Since 1982, GMAC-RFC has maintained a leadership position in the market
and consistently ranks among the top producers of private label
mortgage-backed securities.  In 1998, nearly one of every five MBS issues
nationwide was made by GMAC-RFC.
    GMAC-RFC is a wholly owned subsidiary of General Motors Acceptance
Corporation, committed to providing capital and investments worldwide through
its core business lines of securitization, lending and investment.  The
company is an industry leader in mortgage-backed securities, warehouse
lending, and housing finance.  GMAC-RFC is headquartered in Minneapolis,
Minn., with branch offices nationwide, the United Kingdom and Mexico.

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