GMAC Financial Services Preliminary Unaudited Second ...

GMAC Financial Services Preliminary Unaudited Second Quarter 2009 Financial Highlights

($ in millions)

Summary Statement of Income

Revenue Consumer Commercial Loans held-for-sale Operating leases Interest and dividends on investment securities Other interest income

Total financing revenue and other interest income Interest Expense Deposits Short-term borrowings Long-term debt Other

Total interest expense Depreciation expense on operating lease assets Impairment of investment in operating leases

Net financing revenue Other revenue Servicing fees Servicing asset valuation and hedge activities, net

Net loan servicing income Insurance premiums and service revenue earned Loss on mortgage and automotive loans, net Gain on extinguishment of debt Other gain (loss) on investments, net Other income, net of losses

Total other revenue Total net revenue Provision for loan losses Noninterest expense Compensation and benefits expense Insurance losses and loss adjustment expenses Other operating expenses Impairment of goodwill

Total noninterest expense Loss before income tax expense Income tax expense Net loss

Select Balance Sheet Data

Cash and cash equivalents Loans held-for-sale Finance receivables and loans, net

Consumer Commercial Investments in operating leases, net Total assets Total debt

2Q

2Q

YTD

YTD

Note

2009

2008

2009

2008

$1,270 455 148

1,631 102 33

3,639

$1,764 611 312

2,135 166 393

5,381

$2,599 896 280

3,356 198 121

7,450

$3,585 1,259 672 4,238 375 667

10,796

110 168 1,754

56 2,088 1,256

0 295

80 624 2,174 (9) 2,869 1,401 716 395

202 358 3,590 119 4,269 2,409

0 772

174 1,204 4,523

147 6,048 2,797

716 1,235

399 (240)

159 818 (362)

14 98

4 731 1,026 1,161

465 (185)

280 1,123 (1,099)

616 (49)

49 920 1,315 771

807 (600)

207 1,682

(66) 657

81 (108) 2,453 3,225 2,004

936 225 1,161 2,232 (1,698) 1,104 (444) 134 2,489 3,724 1,244

441 481 1,126 607 2,655 (2,790) 1,113 ($3,903)

591 714 1,548

0 2,853 (2,309)

173 ($2,482)

860 1,034 2,308

607 4,809 (3,588)

990 ($4,578)

1,204 1,344 2,811

0 5,359 (2,879)

192 ($3,071)

June 30,

Dec 31, June 30,

2009

2008

2008

$18,655 $15,151 $14,325

11,440

7,919

12,942

1

57,983

63,963

76,707

32,838

36,110

43,183

2

21,597

26,390

32,810

181,248 189,476 227,692

3

105,175 126,321 173,489

Operating Statistics

GMAC's Worldwide Cost of Borrowing

(1) Finance receivables and loans are net of unearned income (2) Net of accumulated depreciation (3) Represents both secured and unsecured on-balance sheet debt such as commercial paper, medium-term notes and long-term debt (4) Calculated by dividing total interest expense (excluding marked-to-market adjustments and intercompany interest) by total borrowings

Second Quarter

Six Months

2009

2008

2009

2008

4

6.27%

5.92%

6.24%

6.19%

GMAC Financial Services Preliminary Unaudited Second Quarter 2009 Financial Highlights (Continued)

($ in millions)

GMAC Automotive Finance Operations

Note

Second Quarter

2009

2008

Six Months

2009

2008

Net (loss) Income North American Operations (NAO) International Operations (IO) Net (loss) Income

($622) (105)

($727)

($854) 137

($717)

($363) (139)

($502)

($700) 241

($459)

Consumer Portfolio Statistics NAO Number of contracts originated (# thousands)

Dollar amount of contracts originated Dollar amount of contracts outstanding at end of period Share of new GM retail sales

164

443

252

877

$4,624 $11,597

$7,031 $23,447

5

$43,746

$60,798

28%

43%

23%

45%

Mix of retail & lease contract originations (% based on # of units): New Used

82% 18%

73% 27%

80% 20%

75% 25%

GM subvented (% based on # of units)

55%

67%

60%

70%

Average original term in months (US retail only)

64

62

64

61

Off-lease remarketing (US only) Sales proceeds on scheduled lease terminations (36-month) per vehicle - Serviced Off-lease vehicles terminated - Serviced (# units) Sales proceeds on scheduled lease terminations (36-month) per vehicle - On-balance sheet Off-lease vehicles terminated - On-balance sheet (# units)

6,7 $15,220 $13,283 $14,867 $14,155

7

100,807

120,378

198,455

220,375

6

$15,403

$13,252

$15,123

$14,336

8

62,622

59,619 126,356 102,758

IO Number of contracts originated (# thousands) Dollar amount of contracts originated Dollar amount of contracts outstanding at end of period

98

187

$1,462

$3,393

9

$13,951

$19,890

197 $2,804

380 $6,547

Mix of retail & lease contract originations (% based on # of units): New Used

94% 6%

86% 14%

94% 6%

84% 16%

GM subvented (% based on # of units)

55%

41%

59%

41%

Asset Quality Statistics NAO Annualized net retail charge-offs as a % of managed assets

Managed retail contracts over 30 days delinquent Serviced retail contracts over 30 days delinquent

10 10,11 11,12

2.60% 3.74% 3.57%

1.68% 2.31% 2.31%

2.76%

1.63%

IO Annualized net charge-offs as a % of managed assets Managed retail contracts over 30 days delinquent

10 10,11

1.31% 3.00%

0.72% 2.53%

1.19%

0.73%

Operating Statistics NAO Allowance as a % of related on-balance sheet consumer receivables at end of period

Repossessions as a % of average number of managed retail contracts outstanding Severity of loss per unit serviced - Retail New Used

4.48%

3.76%

10

3.42%

2.34%

3.53%

2.54%

12

$10,398 $11,062 $10,843 $10,532

$8,660

$8,822

$8,997

$8,441

IO Allowance as a % of related on-balance sheet consumer receivables at end of period Repossessions as a % of average number of contracts outstanding

2.00% 0.91%

1.56% 0.72%

0.88%

0.69%

(5) Represents on-balance sheet assets, which includes$4.5 billion of retail loans held for sale in 2009 (6) Prior period amounts based on current vehicle mix, in order to be comparable (7) Serviced assets represent operating leases where GMAC continues to service the underlying asset (8) GMAC-owned portfolio reflects lease assets on GMAC's books after distribution to GM of automotive leases in connection with the sale transaction which occurred in November 2006 (9) Represents on-balance sheet assets including retail leases (10) Managed assets represent on and off-balance sheet finance receivables and loans where GMAC continues to be exposed to credit and/or interest rate risk (11) Represents percentage of average number of contracts outstanding. Excludes accounts in bankruptcy. (12) Serviced assets represent on and off-balance sheet finance receivables and loans where GMAC continues to service the underlying asset

GMAC Financial Services Preliminary Unaudited Second Quarter 2009 Financial Highlights (Continued)

($ in millions)

Mortgage Operations

Note

Second Quarter

2009

2008

Six Months

2009

2008

Net loss

Gain (loss) on mortgage loans, net Domestic International Total loss on mortgage loans, net

Portfolio Statistics Mortgage loan production Prime conforming Prime non-conforming Government Nonprime Prime second-lien

Total Domestic

International Total Mortgage production

Mortgage loan servicing rights at end of period

Loan servicing at end of period Domestic International

Total Loan servicing

Asset Quality Statistics Provision for credit losses by product Mortgage loans held for investment Lending receivables

Total Provision for credit losses

Allowance by product at end of period Mortgage loans held for investment Lending receivables Total Allowance by product

Allowance as a % of related receivables at end of period Mortgage loans held for investment Lending receivables Total Allowance as a % of related receivables

Nonaccrual loans at end of period Nonaccrual loans as a % of related receivables at end of period

Total nonperforming assets

GMAC Insurance Operations

($1,836) ($1,890) ($2,856) ($2,749)

$166 (568) ($402)

($180) (882)

($1,062)

$352 (561) ($208)

($245) (1,564) ($1,810)

$10,507 325

7,648 0 0

18,480

325 $18,805

$3,509

$12,187 740

3,760 0

343 17,029

1,049 $18,078

$5,417

$19,013 343

12,320 0 0

31,676

527 $32,202

$27,625 1,588 5,735 3 786

35,737

3,240 $38,977

$ 353,852 27,458

$381,310

$397,842 39,020

$436,862

$685 231

$916

$343 120

$463

$1,190 376

$1,566

$624 138

$762

$1,133 536

$1,669

$638 483

$1,121

13

5.08%

2.26%

15.71%

7.94%

13

6.49%

3.27%

13

$4,939

$4,514

13

19.20% 13.14%

14

$8,253

$7,349

Second Quarter

2009

2008

Six Months

2009

2008

Net (loss) Income

($515)

$135

($465)

$267

Premiums and service revenue written Premiums and service revenue earned Combined ratio

$663

$1,067

$1,385

$2,200

$806

$1,111

$1,658

$2,208

15

96.2%

97.8%

96.1%

95.8%

Investment portfolio fair value at end of period Memo: After-tax at end of period Unrealized gains Unrealized losses

Net unrealized gains

$4,651

$107 (101)

$6

$7,068

$129 (92) $37

(13) Excludes SFAS 159 assets (14) Includes SFAS 159 assets (15) Combined ratio represents the sum of all incurred losses and expenses (excluding interest and income tax expense) divided by the total of premiums and service revenues earned and other income. For 2008, sale of GMAC RE and goodwill impairment have also been excluded.

Numbers may not foot due to rounding

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