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ResCap Seeks Approval for 14.9 Million Incentive Payouts

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Residential Capital LLC, the bankrupt mortgage lending unit of Ally Financial Inc, has asked a judge for permission to make $14.9 million in incentive payments to hold onto 191 key employees, Reuters reported today. About $4.1 million would go to 17 senior executives, not including Chief Executive Officer Thomas Marano, and $10.8 million to 174 other employees, according to a court filing on Tuesday. These recipients together comprise roughly 5 percent of ResCap's 3,625-person workforce.