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GMAC ResCap, Inc., earlier Residential Funding Company LLC and Residential Capital Corporation, was a residential mortgage loan originator and servicer based in Minneapolis, Minnesota. It was a subsidiary of GMAC (now Ally Financial ).
Ally Financial Inc. (known as GMAC until 2010) is an American bank holding company incorporated in Delaware and headquartered at Ally Detroit Center in Detroit, Michigan.The company provides financial services including car finance, online banking via a direct bank, corporate lending, vehicle insurance, mortgage loans, and other related financing services such as installment sale and lease ...
In February 2010, GMAC relocated ditech.com offices from Costa Mesa to Fort Washington, PA. [11] In May 2010, GMAC changed its name to Ally Financial. [12] In 2012, during the mortgage crisis, Ally took its residential lending unit into bankruptcy in order to pay back the U.S. Treasury following its acceptance of bailout funds. [13]
General Motors and Stellantis (NYSE: STLA) accounted for about 80% of Ally Financial's new vehicle dealer inventory financing in 2023. Those two partners made up nearly 45% of the company's ...
In 2006, General Motors sold 51% of GMAC (now Ally Financial) to an affiliate of Cerberus Capital Management; at the time, 1,179 worked in Winston-Salem. [ 11 ] In 2009, American Capital Acquisition Corp., a unit of American Capital Partners LLC of Hauppauge, New York bought GMAC's U.S. consumer property-casualty insurance business GMAC ...
Ally was rebranded from GMAC Bank, a subdivision of the century-old General Motors Acceptance Corporation (GMAC), units of which had faced bankruptcy during the subprime mortgage market collapse ...
GMAC Real Estate was founded in 1998, when GMAC (now Ally Financial) bought the Better Homes and Gardens Real Estate brand from Meredith Corporation. [2]In 2001, John Bearden was named president and CEO of GMAC Home Services, the parent company of GMAC Real Estate.
Chart of U.S. bank mergers. This 2012 chart shows some of the mergers noted above. Solid arrows point from the acquiring bank to the acquired one.