The US Bankruptcy Court gave an order approving the bidding procedures relating to the sale of its certain assets of Residential Capital, LLC on January 17, 2013. The debtor's assets include loans insured by the Federal Housing Administration. To qualify as a qualified bidder, interested parties should submit their bids by February 6, 2013.

The sale hearing is scheduled for April 11, 2013. Any objections should be made before April 4, 2013.