GMAC Institutional Capital Acquires $500 Million in Adjustable Rate Mortgage-Backed Securities

		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 Demonstrates GMAC-RFC's Continued Leadership in Securitization Market MINNEAPOLIS, Sept. 29 /PRNewswire/ -- GMAC Institutional Capital, a division of Residential Funding Corporation (GMAC-RFC), today announced a $500 million acquisition of adjustable rate mortgage-backed securities (MBS). (Photo: http://www.newscom.com/cgi-bin/prnh/20000324/MNF002 ) The acquisition signifies GMAC-RFC's commitment to providing innovative capital solutions and its ongoing expansion into the securitization and distribution of mortgage loans and securities. The transaction consisted of single-family, residential mortgage loans pooled and purchased by GMAC-RFC in a competitive offering by a depository institution. "At GMAC Institutional Capital, we focus on providing solutions that will optimize portfolio performance and improve bottom-line results for holders of residential loan portfolios," said Rod McGinniss, managing director for GMAC Institutional Capital and president of Residential Funding Securities Corporation (RFSC), GMAC-RFC's wholly owned broker-dealer. "In addition, we acquire residential loans that do not qualify under GMAC-RFC's conduit guidelines. This allows us to provide capital to less liquid segments of the agency MBS market." GMAC Institutional Capital provides sellers with careful analysis and then makes recommendations regarding specific pooling of the broad asset selection, McGinniss said. "We help our clients identify and take advantage of investor preferences in seasoning, geography and pool size." "The successful close of this acquisition required a quick response to market conditions, as well as aggressive bid indications and strong experience in such transactions," said John Getchis, managing director, portfolio transactions, GMAC Institutional Capital. "We were able to remain flexible and to offer extensive analysis, industry expertise and strategic recommendations. This combination resulted in premium pricing for an exceptional group of assets with wide appeal to institutional investors." For more than nine years, GMAC Institutional Capital has distributed whole loans and, through RFSC, has distributed mortgage- and asset-backed securities (ABS) directly to institutional investors. The company is currently leveraging its established investment and securitization expertise to create new offerings of whole loan and structured products-designed for all of GMAC-RFC's businesses and for financial institutions with seasoned portfolios. GMAC Institutional Capital is engaged in trading, institutional sales, structuring, whole loan analytics, structured finance and research. The division is based in Bethesda, Md., Washington, D.C., and is part of GMAC-RFC, a subsidiary of General Motors Acceptance Corporation. GMAC-RFC is a national leader in non-agency issuance 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. GMAC-RFC is headquartered in Minneapolis and operates in the United States, Europe and Latin America. http://www.gmacrfc.com