Servicing Agreement Between GMAC And Failed Lender Terminated

icing agreement between Alliance Bancorp, which filed for Chapter 7 bankruptcy in July 2007, and GMAC Mortgage Inc. has been terminated, according to [link=http://bankruptcy.law360.com/articles/97778][u]Law360.com[/u][/link]. Tracy L. Klestadt, acting as trustee for Alliance, filed a motion in the U.S. Bankruptcy Court for the District of Delaware, which allows GMAC to receive about $295,000 in servicing fees. The loans being serviced under the agreement were acquired by Hexagon Mortgage LLC in a sale finalized in February, Law360 adds. SOURCE:

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