In Brief: GMAC Unit to Buy 2 Ailing-Debt Servicers

GMAC Residential Funding Corp. said Monday it had agreed to buy the assets of two distressed consumer debt servicing companies: American Financial Consultants, a subsidiary of the Phoenix Finance Group LLC, and Minneapolis-based Triad Financial Services Inc.

The deals are expected to close this month, after which 100 employees of American Financial and 225 employees of Triad will go to work for Homecomings Financial Network Inc., a subsidiary of Residential Funding Corp.

GMAC-RFC has targeted the distressed asset servicing business as an attractive investment opportunity.

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