GMAC-RFC Receives Top Master Servicer Designation From Standard & Poor's

		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

Company Awarded 'Strong' Ranking for Superior Residential Mortgage Loan Servicing MINNEAPOLIS, July 12 /PRNewswire/ -- Residential Funding Corporation (GMAC-RFC) today announced it received the top master servicer designation from international rating agency Standard & Poor's (S&P). (Photo: http://www.newscom.com/cgi-bin/prnh/20000324/MNF002 ) S&P conducted a comprehensive evaluation of GMAC-RFC's master servicing capabilities (master servicing is monitoring the administration of residential mortgage loans serviced by primary loan servicers). The rankings reflect the company's seasoned management team and staff, emphasis on risk management, solid technology platform, comprehensive training programs, high level of customer service, and the strong capital base of parent company GMAC Financial Services. "GMAC-RFC strategically invests in technology and partnerships that drive down costs for homebuyers, and we are dedicated to building strong servicing capabilities in support of our diverse product lines," said Mike Kozlak, president of GMAC-RFC's Residential Capital Group. "S&P's 'strong' ranking recognizes the value of our management, technology and financial condition and affirms the confidence our clients and investors have in us is merited." S&P rates residential mortgage servicers on a five-point scale, ranging from "weak" to "strong." The agency assigned GMAC-RFC a "strong" ranking as a Residential Loan Master Servicer. According to S&P, a "strong" servicer ranking demonstrates the highest degree of ability, efficiency and competence in managing large and highly diverse asset portfolios; strong and stable management; state-of-the-art computer technology; and excellent internal controls, policies and procedures. GMAC-RFC also received Fitch's top ranking for master servicers last year. As of April 2001, GMAC-RFC's master servicing portfolio size was approximately $78 billion, representing more than 650,000 loans. The company is one of the largest master servicers in the United States. ABOUT GMAC-RFC GMAC-RFC, a wholly owned subsidiary of GMAC Financial Services, is America's largest non-agency issuer of mortgage-backed securities and home equity loan asset-backed securities (ABS), and No. 1 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, Japan and Latin America. http://www.gmacrfc.com