##### 



Exhibit 12.1


Residential Capital Corporation


Exhibit 12.1  Computation of the Ratio of
Earnings to Fixed Charges




|                                          |                                    |                        |           |           |                |   |           |         |  |   |           |           |  |   |           |           | 
|----------------------------------------- | ---------------------------------- | ---------------------- | --------- | --------- | -------------- | - | --------- | ------- |  | - | --------- | --------- |  | - | --------- | --------- | 
|                                          |                                    | Three Months           |           |           | Six Months     |  
|                                          |                                    | Ended June 30,         |           |           | Ended June 30, |  
|                                          |                                    |                        |           |           |                |  
|                                          |                                    | 2006                   |           |           | 2005           |   |           | 2006    |  |   | 2005      |          
|                                          |                                    |                        |           |           |                |   |           |         |  |   |           |          
|                                          |                                    | (Dollars in thousands) |          
|Net income                                |                                    | $                      | 548,148   |           |                | $ | 300,426   |         |  | $ | 749,642   |           |  | $ | 622,221   |          
|Income tax expense                        |                                    |                        | 330,618   |           |                |   | 158,621   |         |  |   | 468,591   |           |  |   | 365,676   |          
|Equity-method investee distribution       |                                    |                        | 622,550   |           |                |   | 43,267    |         |  |   | 647,786   |           |  |   | 91,755    |          
|Equity-method investee earnings           |                                    |                        | (447,635  | )         |                |   | (43,731   | )       |  |   | (479,848  | )         |  |   | (66,227   | )        
|Interest expense                          |                                    |                        | 1,557,894 |           |                |   | 850,061   |         |  |   | 2,993,263 |           |  |   | 1,615,971 |          
|Interest portion of rental expense        |                                    |                        | 10,345    |           |                |   | 10,157    |         |  |   | 20,045    |           |  |   | 18,776    |          
|                                          |                                    |                        |           |           |                |   |           |         |  |   |           |          
|Earnings available to cover fixed charges |                                    | $                      | 2,621,920 |           |                | $ | 1,318,801 |         |  | $ | 4,399,479 |           |  | $ | 2,648,172 |          
|                                          |                                    |                        |           |           |                |   |           |         |  |   |           |          
|Fixed Charges:                            |                                    |                        |           |           |                |   |           |         |  |   |           |           |  |   |           |          
|                                          | Interest expense                   |                        | $         | 1,557,894 |                |   | $         | 850,061 |  |   | $         | 2,993,263 |  |   | $         | 1,615,971 | 
|                                          | Interest portion of rental expense |                        |           | 10,345    |                |   |           | 10,157  |  |   |           | 20,045    |  |   |           | 18,776    | 
|                                          |                                    |                        |           |           |                |   |           |         |  |   |           |          
|Total fixed charges                       |                                    | $                      | 1,568,239 |           |                | $ | 860,218   |         |  | $ | 3,013,308 |           |  | $ | 1,634,747 |          
|                                          |                                    |                        |           |           |                |   |           |         |  |   |           |          
|Ratio of earnings to fixed charges        |                                    |                        | 1.67      |           |                |   | 1.53      |         |  |   | 1.46      |           |  |   | 1.62      |          
|                                          |                                    |                        |           |           |                |   |           |         |  |   |           |