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Jodi Ehlers Swanson
Stephen Dupont



Partnership with ComplianceEase Produces Streamlined Automated Compliance Solution

MINNEAPOLIS (March 29, 2006) — GMAC Residential Funding today announced the launch of the enhanced Assetwise Compliance Engine,sm which has been integrated with ComplianceAnalyzer, a compliance tool developed by ComplianceEase®. The compliance solution streamlines the mortgage loan process by combining technology platforms to provide the most comprehensive automated compliance solution available in the marketplace. GMAC Residential Funding lending partners that use ComplianceEase will be able to access the Assetwise Compliance engine as part of their ComplianceEase subscription.

“This state-of-the art compliance system further streamlines the mortgage loan process, allowing clients to increase profitability and provide better value to homeowners,” says Shannon Bins, managing director, eCommerce, GMAC Residential Funding. “We’re committed to providing innovative solutions that help our lender partners quickly and efficiently sort out and comply with federal, state and local mortgage loan laws and regulations.”

ComplianceAnalyzer performs transactional, real-time audits to verify regulatory compliance with all applicable federal, state and municipal anti-predatory lending requirements; consumer lending laws and regulations based on their license types; and institution specific, secondary market and rating agency requirements.

ComplianceEase users will now be given an option to receive a free Assetwise Compliance Engine findings report. The complimentary report will indicate if the loan may be eligible for purchase by GMAC Residential Funding. Assetwise Compliance Engine analyzes the loan to make sure it aligns with GMAC Residential Funding’s specific guidelines on HOEPA and state high cost mortgage loan laws.

The ability to access these two important solutions through one platform is a tremendous benefit, and further streamlines our origination process. ComplianceAnalyzer has been an integral part of our origination process since we first selected it as the best fit for our business over three years ago,” said Jeff Freed, senior vice president of Mortgage Division at First National Bank of Arizona. “Given our extensive use of Assetwise Compliance Engine, this effort helps FNBA to consolidate the two solutions without any effort on our part."

“This new compliance solution effectively saves us time and money,” adds Angela Willingham, vice president, Aegis Home Equity. “Not only do we immediately know if our loans comply with state and local regulations from ComplianceAnalyzer, but we also immediately know if the loans may be eligible for purchase by GMAC Residential Funding at no extra cost.”

The strategic partnership between ComplianceEase and GMAC Residential Funding to integrate their technology platforms into one automated compliance solution was announced in October 2005.

In late 2004, GMAC Residential Funding announced the availability of Assetwise Compliance Engine, a tool that enables lenders to determine -- before the loan is closed -- if a loan may be ineligible for purchase by GMAC Residential Funding because it is a “high cost” or similarly designated loan under federal, state or local law. Since the company introduced the Assetwise Compliance Engine, it has continued to incorporate client feedback into the design, functionality and performance of the product.

“Our partnership with GMAC Residential Funding has empowered mortgage lenders with an effective tool  with which to determine loan compliance,” said Dave Girling, executive vice president of ComplianceEase. “Our integrated compliance solution was developed to specifically address the needs of mortgage lenders  by making the loan origination process more efficient, and  by helping to increase profitability in an increasingly competitive market."  

ComplianceEase, a division of LogicEase Solutions Inc., headquartered in the San Francisco Bay Area, is a premier provider of intelligent business solutions to the financial services industry. ComplianceEase’s web-based platform - ComplianceAnalyzer - is the mortgage industry’s leading automated compliance solution. The ComplianceEase expert system utilizes advanced reasoning and decisioning technologies as well as natural language processing to power beginning-to-end solutions in a fraction of the time and for a fraction of the cost of traditional approaches, while providing high levels of accuracy and integrity. ComplianceEase’s significant and growing client base includes top tier mortgage lenders, banks, and Wall Street firms. Managed by a team of highly experienced and innovative mortgage and technology professionals, the company is funded by the First American Corporation, the WI Harper Group, and the senior management team. For more information about ComplianceEase, visit www.ComplianceEase.com.

GMAC Residential Funding acquires residential mortgages and home equity loans and lines from mortgage banks and other lenders, securitizes and sells them as investments, and also provides a consistent source of warehouse financing for mortgage lending partners. GMAC Residential Funding is a business unit within Residential Capital Corporation (ResCap)'s U.S. Residential Finance Group. ResCap is a leading real estate finance company, focused primarily on the residential real estate market in the United States, Canada, Europe and Latin America. Our diversified businesses – GMAC-RFC, GMAC Mortgage, Ditech.com, GMAC Bank, and Homecomings Financial – cover the spectrum of the U.S. residential finance industry, from origination and servicing of mortgage loans through their securitization on the secondary market.  It also provides capital to other originators of mortgage loans, residential real estate developers, resort and timeshare developers and healthcare companies. ResCap is an indirect wholly owned subsidiary of General Motors Acceptance Corporation (GMAC). For more information about ResCap, visit https://www.rescapholdings.com.

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