GMAC-RFC was the No. 1 issuer of private-label mortgage-backed securities in 1998, for the fourth year in a row.

The General Motors unit issued nearly $24 billion, up 70% from 1997. That gave the company more than 18% share of the market for mortgage- backeds not insured by Fannie Mae, Freddie Mac, or Ginnie Mae, according to industry newsletter Inside Mortgage Finance.

GMAC-RFC outdistanced the runner-up by $6 billion, the newsletter said.

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