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United States
1997 (29 Years)
Last online: No recent activity
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This company is currently Unproved.
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License
A Grade License
Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.
B Grade License
Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.
C Grade License
Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.
D Grade License
From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.
Get to know Residential Finance
Company Information
Get to know Residential Finance
Founded in 1997, Residential Finance Corporation (ResFin) grew to become one of the largest mortgage lenders and servicers in the United States. As a subsidiary of Ally Financial (formerly GMAC), it specialized in originating, purchasing, and servicing residential mortgage loans. The company played a significant role in the mortgage market but was severely impacted by the 2008 financial crisis. It faced massive liabilities and lawsuits related to misrepresentation in the sale of mortgage-backed securities. Unable to manage these legacy claims, the company filed for Chapter 11 bankruptcy on May 14, 2012, and its assets were subsequently sold to other financial institutions, such as Ocwen Financial and Walter Investment Management Corp.
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