December 17, 2012
Another voice has lent itself to the clamor of support for the appointment of a mediator in Residential Capital LLC's bankruptcy, with the National Credit Union Administration Board joining AIG Asset Management (U.S.) LLC and others Monday in backing the debtor's mediator request.
December 07, 2012
Residential Capital LLC asked a New York bankruptcy judge Thursday to extend through the end of February the period during which it alone can float a Chapter 11 plan, citing the unresolved issue of residential mortgage-backed securities litigation.
November 26, 2012
The court-appointed examiner tasked with investigating a $750 million prepetition agreement Ally Financial Inc. arranged to distance itself from bankrupt mortgage servicing arm Residential Capital LLC told a New York bankruptcy court Monday that he will need more time to complete his assignment.
November 19, 2012
A New York bankruptcy judge on Monday reportedly all but approved Residential Capital LLC's $4.5 billion plan to sell off two businesses, including the $3 billion sale of its mortgage-servicing platform to Ocwen Financial Corp.
November 13, 2012
American Residential Equities LLC, trustee for purchasers of residential mortgage loans, filed suit in New York bankruptcy court Friday accusing Residential Capital LLC affiliate GMAC Mortgage LLC of failing to pay money due to ARE and artificially inflating insurance prices.
November 09, 2012
Concluding a complex discovery dispute over the production of 2,100 loan files, Ally Financial Inc. and its bankrupt Residential Capital LLC unit reached a deal Friday with the Federal Finance Housing Agency to give the FHFA documents it sought, in a larger fight over residential mortgage-backed securities.
November 08, 2012
Fannie Mae on Wednesday objected to bankrupt Residential Capital LLC's proposed $3 billion sale of its mortgage servicing and origination platform to Ocwen Financial Corp., saying ResCap hasn't said how joint bidder Walter Investment Management Corp. would assume Fannie Mae's mortgage agreements.
November 06, 2012
The U.S. on Monday objected to mortgage loan servicer Ocwen Financial Corp.'s $3 billion bid for the mortgage servicing and origination platform of bankrupt real estate finance firm Residential Capital LLC, saying Ocwen needs to honor ResCap's part of a $25 billion settlement with the government.
October 30, 2012
Wells Fargo Bank NA, PNC Bank NA and others objected Monday to bankrupt Residential Capital LLC's proposal to sell its mortgage servicing and origination business to Ocwen Financial Corp. for $3 billion and its loan portfolio to Berkshire Hathaway Inc. for $1.5 billion.
October 29, 2012
A group of plaintiffs who are suing Residential Capital LLC over mortgage-backed securities asked the judge overseeing the company's bankruptcy to make sure books and records are preserved during the $1.5 billion sale of ResCap's loan portfolio and $3 billion sale of its mortgage servicing and origination business.