ResCap was a leading entity in the U.S. real estate finance market, specializing in mortgage origination, servicing, and securitization. As a subsidiary of GMAC (later Ally Financial), it was one of the largest subprime mortgage lenders in the country. The company was severely impacted by the 2008 financial crisis due to its extensive portfolio of risky loans and mortgage-backed securities. Facing insurmountable legal liabilities and losses, ResCap filed for Chapter 11 bankruptcy on May 14, 2012. The subsequent liquidation saw its assets, primarily mortgage servicing rights, sold off to other financial institutions, and the company was ultimately wound down.

Founded in

Mongolia