GMAC ResCap to Offer Mortgage Relief to Customers Affected By California Wildfires
GMAC ResCap will offer mortgage relief counseling, and other assistance to about 330,000 GMAC Mortgage and Homecomings Financial customers that may be affected by the Southern California wildfires within the areas that have been declared federal disaster areas. The company also will dispatch its “Mobile HOPE” operation, a group of specially trained customer service specialists, who will meet face-to-face with customers whose homes have been damaged by the wildfires. This is the first time the Mobile HOPE team has been mobilized since it assisted homeowners affected by Hurricane Katrina in September 2005.
“We are keenly focused on doing everything possible to make it easier for our customers to get through this tragic situation,” said Tony Renzi, executive vice president and head of servicing operations for GMAC ResCap, which services the mortgages of more than 3.4 million customers throughout the United States.
GMAC Mortgage and Homecomings Financial customers affected by the fires should call its “California Disaster Hotline” at 1-866-262-5363, toll-free, for assistance. The hotline will be maintained 24 hours a day starting today and will be maintained until further notice. Customer care advocates staffing the hotline, as well as members of the Mobile HOPE team, are prepared to work with each customer and offer assistance such as loan modifications, alternative payment options, and other financial relief, to assist customers affected by the wildfires.
About GMAC ResCap
GMAC ResCap (Residential Capital, LLC) is a leading real estate finance company, focused primarily on the residential real estate market in the United States, Canada, Europe, Australia, and Latin America. The company’s diversified affiliates and businesses — GMAC-RFC, GMAC Mortgage, LLC, Ditech, GMAC Bank, GMAC Real Estate, and Homecomings Financial, LLC — cover the spectrum of the residential finance industry, from origination and servicing of mortgage loans through their securitization in the secondary market. GMAC ResCap also provides capital to other originators of mortgage loans and residential real estate developers.
GMAC ResCap (http://www.gmacrescap.com) is an indirect wholly owned subsidiary of GMAC Financial Services. GMAC Financial Services is a global, diversified financial services company that operates in approximately 40 countries in automotive finance, real estate finance, insurance and commercial finance businesses. GMAC was established in 1919 and currently employs about 31,000 people worldwide.
At Dec. 31, 2006, GMAC held more than $287 billion in assets and earned net income for 2006 of $2.1 billion on net revenue of $18.2 billion. For more information, please go to http://www.gmacfs.com.
