GMAC-RFC Announces $600 Million HLTV Transaction

		GMAC-RFC LOGO GMAC-RFC (Residential Funding Corporation) logo. GMAC-RFC, a wholly owned subsidiary of General Motors Acceptance Corporation, is America's largest private-label issuer of mortgage-backed securities and a leading warehouse lender. The company leverages its strengths in securitization, lending and investment to offer a broad portfolio of innovative capital solutions. The company is headquartered in Minneapolis and operates in the United States, Europe, Latin America and Japan. Contact: http://www.rfc.com. (PRNewsFoto)[KI] MINNEAPOLIS, MN USA

Transaction Puts Company's HLTV Securitization Volume at $1.45 Billion For First Half of 2000 MINNEAPOLIS, June 29 /PRNewswire/ -- GMAC-Residential Funding Corporation (GMAC-RFC) today announced the closing of a $600 million, high-loan-to-value (HLTV) home equity loan securitization, the largest HLTV transaction in the company's history. (Photo: http://www.newscom.com/cgi-bin/prnh/20000324/MNF002 ) For the first half of 2000, GMAC-RFC has securitized more than $1.45 billion in HLTV product, placing GMAC-RFC among the largest HLTV issuers to date. This transaction, the company's third of the year, demonstrates its ongoing commitment to the HLTV securitization business. According to Eric Scholtz, GMAC-RFC managing director, capital markets, "We continue to see tremendous opportunity in the estimated $10 billion HLTV market, both for GMAC-RFC and for our partners." Scholtz said GMAC-RFC's objective is to continue to provide a stable outlet for originators and supply for its investors. "GMAC-RFC continues to be a leading buyer of HLTV product while other issuers continue to fall out of the market. We are committed to delivering the same high-quality HLTV product that we have in years past," he said. Scholtz added that GMAC-RFC remains a leader in the HLTV market "thanks to our prudent risk management, strong ongoing servicing and special servicing capabilities, which all leads to superior performance. " In 1999, GMAC-RFC issued more than $1.75 billion in HLTV product, making it the largest HLTV issuer nationwide, according to industry sources. In addition, as of first quarter 2000, GMAC-RFC ranks as the number one issuer of home equity loans (HEL); number two issuer of private-label mortgage-backed securities (MBS), and number two issuer of Alt A product. For the first six months of 2000, GMAC-RFC was the leading issuer overall of asset-backed securities (ABS), with a 19 percent market share. GMAC-RFC, a wholly owned subsidiary of General Motors Acceptance Corporation, is America's largest non-agency issuer of mortgage-backed securities and a leading warehouse lender. The company leverages its strengths in securitization, lending and investment to offer a broad portfolio of innovative capital solutions. The company is headquartered in Minneapolis and operates in the United States, Europe, Latin America and Japan. http://www.gmacrfc.com