Exhibit 99.1**Residential Capital Corporation Announces 2005 Net Income of $1.02 Billion**Minneapolis, MN (February 13, 2006) — Residential Capital Corporation (“ResCap”) hereby announcesits results for the quarter and year ended December 31, 2005. Full year 2005 net income was $1.02billion, representing a 5.4% increase from $968.2 million in 2004. Total assets as of December 31,2005 were $118.9 billion, a $24.5 billion increase over December 31, 2004.ResCap’s worldwide mortgage loan production was $175.6 billion in 2005, reflecting an increase of19.4% over 2004 production levels. Annual mortgage loan production in the United States was $159.1billion for 2005, which represents an increase of 19.6% over 2004.According to *Inside MortgageFinance,*ResCap was the sixth largest U.S. originator in 2005. The company’s international loanproduction increased 18.0% when compared to the prior year.ResCap’s year-over-year increase in net income was primarily the result of higher gain on sales ofloans, lower provision for loan losses on loans held for investment and lending receivables andincreased net servicing fees. These favorable impacts to net income were partially offset by adecline in net interest income and an increase in operating expenses. **•** *Higher gain on sale*: ResCap sold a greater percentage of its mortgage loanproduction, primarily during the first nine months of 2005, to take advantage of certainmarket conditions that made it more economical to securitize and sell all the credit riskon certain nonprime and home equity products rather than to retain them on its balancesheet.  **•** *Lower provision for loan losses:*ResCap recorded a lower provision for loanlosses, which was primarily driven by favorable loss severity assumptions in 2005 whencompared to 2004 due to continued home price appreciation. Also having a favorable impacton the provision for loan losses was a slower rate of increase in delinquencies during2005 when compared to 2004 as the seasoning of the portfolio slowed. These positiveeffects were partially offset by provisions on loans impacted by Hurricane Katrina.  **•** *Increased net servicing fees:*ResCap’s net servicing fees increasedprimarily due to the growth in the overall servicing portfolio combined with a decrease inResCap’s amortization and impairment of servicing rights resulting from lower averageprepayment expectations when compared to the prior year.  **•** *Decreased net interest income:*ResCap’s 2005 net interest income declined incomparison to 2004. While ResCap increased its portfolio of interest earning assets, thenet interest margin declined primarily due to the negative impact of the flattening of theyield curve as a result of an increase in short-term rates and the replacement of lower cost affiliate funding with ResCap’s ownunsecured funding.  **•** *Increased operating expenses:*ResCap’s operating expenses increased in 2005from the prior year primarily due to an increase in compensation and benefits, which wasdriven by an increase in headcount and an increase in other expenses resulting mostly fromhigher levels of loan production in 2005 when compared to 2004.Fourth quarter 2005 net income was $118.3 million, as compared to $257.9 million in the comparableperiod in 2004. Total worldwide loan production was strong at $45.3 billion for the quartercompared to $38.9 billion for the fourth quarter of 2004. The decrease in net income was drivenprimarily by lower net interest income and higher expenses. **•** *Net interest income:*The decline in comparative fourth quarter net interestincome was primarily due to tighter margins resulting from the flattening of the yieldcurve as a result of an increase in short-term rates. The rise in short-term rates negatively impacted ResCap’s cost of funds while theyields on its interest earning assets were generally unchanged. Additionally, the cost offunds increased as ResCap replaced lower rate affiliate borrowings with its own unsecureddebt.  **•** *Expenses:*The increase in expenses was primarily a result of the increase inloan production and an associated increase in the number of employees when compared to the fourthquarter of 2004.  **•** *Financing Volume:*In the fourth quarter of 2005, a majority of the increasein production, when compared to the fourth quarter of the prior year, was retained on thebalance sheet as securitizations
 

 
   structured as financings (as opposed to gain-on saletransactions). This was a primary driver for the increase in the mortgage loans held forinvestment portfolio to $67.9 billion at December 31, 2005 from $56.8 billion at December31, 2004. ResCap expects continued pressure on the net margin generated from thisportfolio given market conditions.**Legal Notice***This announcement contains forward-looking statements relating to ResCap’s business and itsfinancing plans. Words such as “intends” or “planning” are used to identify these forward-lookingstatements. These statements are not guarantees of future performance and involve risks,uncertainties and assumptions that are difficult to predict. There is no assurance that the aboveoffering will be completed or completed as described above. Forward-looking statements are basedupon assumptions as to future events that may not prove to be accurate. Actual outcomes and resultsmay differ materially from what is expressed or forecasted in these forward-looking statements.***About Residential Capital Corporation**