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ResCap sees $37.45 million of January net income; revenues increase
By Caroline Salls
Pittsburgh, Feb. 26 - Residential Capital, LLC posted net income of $37.45 million for January on total net revenues of $126 million, according to its monthly operating report filed Monday with the U.S. Bankruptcy Court for the Southern District of New York.
The figures showed improvement from the $239.07 million net loss reported for December on total net revenues of $102.59 million.
The company also reported cash and cash equivalents of $1,714,560,000 as of Jan. 31, up from $1,630,213,000 at the end of December.
Residential Capital, a New York-based mortgage originator and servicer, filed for bankruptcy on May 14, 2012. Its case number is 12-12020.
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