GMAC-RFC Touts MBS/ABS Record

Residential Funding Corp., Minneapolis, has reported a record $50.1 billion issuance of mortgage-backed securities and mortgage-related asset-backed securities in 2003, up 45.1% from its issuance the year before.The total included: $14.3 billion in residential subprime securities; $8.7 billion of alternative-A securities; $6.8 billion in jumbo A-quality loan securities; $3.2 billion in securities backed by open-end lines and second-lien closed-end loans with high loan-to-value ratios; and approximately $16.5 billion in securities backed by high-LTV loans, program-variance mortgages, and others. GMAC-RFC said it was the largest issuer of mortgage-related ABS in 2003 and the second-largest U.S. mortgage conduit. The company can be found online at http://www.gmacrfc.com.