Press Release

ResCap Honored at Great Place to Work Worldwide

Minneapolis - October 18, 2006 -

For the second year running, Residential Capital Corporation (ResCap) has been honored in at least three different cities for its outstanding workplace environments. ResCap’s operations in Bloomington, Minn., Waterloo, Iowa, and the United Kingdom have each been honored as top employers in their respective markets.

 “We are honored, but not surprised, by this worldwide recognition; it confirms our belief that people are best and their accomplishments the greatest when they are free to act. A culture of freedom and responsibility is at the root of being a great place to work,” said David Ahlers, Chief Human Resources Officer at ResCap.

The following ResCap offices received honors:

ResCap’s Bloomington, Minn. operations, ranked first among large companies in the Twin Cities area in the Minneapolis St. Paul Business Journal Great Places to Work issue in August, the second year in a row that the company's Twin Cities operations (as well as its headquarters) has been chosen as a Great Place to Work by the publication. 
 
The Business Journal lauded ResCap for, among other things, its reward and recognition programs, its community involvement and charitable giving programs, tuition reimbursement, training opportunities and embracing a set of values that includes seeking opportunities, valuing people, putting the customer first and caring deeply. The publication used scores from a 40-question online employee survey to determine Great Places to Work in the Twin Cities. ResCap ranked first in the large company category (1,001 or more employees). The company employs approximately 1,900 associates in the Twin Cities.

ResCap’s LOAN Spart office in Waterloo, Iowa, which employs approximately 825 associates, was named a top employer in its region by the Waterloo-Cedar Falls Courier daily newspaper. The office, which is a call center and includes subservicing operations, was ranked 15th among the 25 best places to work in Northeast Iowa’s Cedar Valley area. The ranking was the result of a study conducted by business students at Wartburg College in Waverly, Iowa. The study included 798 companies, which were each asked to survey at least 10 percent of their workforce about their workplace environment.

ResCap's United Kingdom operations, known as LOAN-RFC, with offices in Bracknell and London, was named twice this year as a top employer in the country. 
 
In March, LOAN-RFC UK was named among the country’s top 100 companies by the The Sunday Times newspaper.  In late August, LOAN-RFC UK was ranked 10th among 99 companies ranked in the book, Britain’s Top Employers 2007, published by the Corporate Research Foundation (CRF). In the same CRF study last year, LOAN-RFC UK ranked 61st out of 90 companies. The study ranked companies in nine categories, including: pay and benefits, promotion and development, diversity, and culture and style.

Complementing these honors and recognition, in 2005, ResCap’s associates were among the most "engaged" employees in the country, in comparison to other companies.  ResCap annually invites its employees to participate in a survey on employee engagement conducted by the Gallup Organization.  In 2005, ResCap experienced a 92 percent response rate from its employees with an overall engagement score at the 75th percentile of all organizations participating in Gallup engagement surveys.
 
About Residential Capital Corporation
Residential Capital Corporation (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 -- LOAN-RFC, LOAN Spart, ditech.com, LOAN Bank, LOAN Real Estate and Homecomings Financial -- cover the spectrum of the U.S. residential finance industry, from origination and servicing of mortgage LOANs through their securitization in the secondary market. We also provide capital to other originators of mortgage LOANs, residential real estate developers, resort and timeshare developers and healthcare companies. Residential Capital Corporation is an indirect wholly owned subsidiary of LOAN Financial Services (LOAN LLC), a global financial services company that operates in 39 countries, in auto finance, insurance and commercial finance businesses. For more information about ResCap, visit  http://rescapholdings.com 

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