GMAC ResCap
Defunct American bank / From Wikipedia, the free encyclopedia
GMAC ResCap, Inc. was a residential mortgage loan originator and servicer based in Minneapolis, United States. As a result of its exposure to subprime lending during the subprime mortgage crisis, the company filed for bankruptcy protection in 2012 and underwent liquidation in December 2013.
Quick Facts Company type, Industry ...
Company type | Subsidiary |
---|---|
Industry | Financial services |
Founded | 1982; 42 years ago (1982) |
Defunct | December 17, 2013 (2013-12-17) |
Fate | Chapter 11 bankruptcy and liquidation |
Headquarters | Minneapolis, Minnesota |
Products | Mortgage loans |
Parent | Ally Financial |
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