Document:

EX-10.7
                     AMENDMENT OF PROMISSORY NOTE

March 21, 2001

The promissory note dated June 6, 2000 whereby Hayseed Stephens
agreed to loan Ness Energy International, Inc., up to $300,000.00
at an interest rate of prime plus 2% to be repaid, including
interest, in one payment by June 6, 2001 is hereby amended as follows:

The repayment date is extended to June 6, 2002.

All other conditions remain unchanged.

(1)  /s/  Mary Gene Stephens                 /s/  Hayseed Stephens
                                             Hayseed Stephens

(2)  /s/  Kaye Oakes                        /s/  Bob Lee
                                            Bob Lee

Ness Energy International, Inc.

Signatures of Witnesses          Signature of Maker and PayeeEX-10.8
                     AMENDMENT OF PROMISSORY NOTE

March 21, 2001

The promissory note dated September 15, 2000 whereby Hayseed
Stephens agreed to loan Ness Energy International, Inc., up to
$600,000.00 at an interest rate of prime plus 2% to be repaid,
including interest, in one payment by September 15, 2001 is
hereby amended as follows:

The repayment date is extended to September 15, 2002.

All other conditions remain unchanged.

(1)  /s/  Kaye Oakes                           /s/  Hayseed Stephens
                                               Hayseed Stephens
                                               Hayseed Stephens Oil,
Inc.

(2)  /s/  Walter Littlefield                   /s/  Bob Lee
                                               Bob Lee

Ness Energy International, Inc.

Signatures of Witnesses          Signature of Maker and PayeeEX-10.9
                      AMENDMENT OF PROMISSORY NOTE

May 8, 2001

The promissory note dated June 6, 2000 and amended March 21, 2001
whereby Hayseed Stephens, agreed to loan Ness Energy
International, Inc., up to $300,000.00 at an interest rate of
prime plus 2% to be repaid, including interest, in one payment by
June 6, 2001, is hereby amended as follows:

The repayment date is extended to July 1, 2002.

All other conditions remain unchanged.

(1)  /s/  Kaye Oakes                    /s/  Hayseed Stephens
                                       Hayseed Stephens

(2)  /s/  Walter Littlefield           /s/  Bob Lee
                                       Bob Lee

Ness Energy International, Inc.

Signatures of Witnesses          Signature of Maker and PayeeEX-10.10
                      AMENDMENT OF PROMISSORY NOTE

May 8, 2001

The promissory note dated September 15, 2000 and amended March
21, 2001 whereby Hayseed Stephens Oil, Inc., agreed to loan Ness
Energy International, Inc., up to $600,000.00 at an interest rate
of prime plus 2% to be repaid, including interest, in one payment
by September 15, 2002 is hereby amended as follows:

The amount is changed to up to $1,000,000.00.

All other conditions remain unchanged.

(1)  /s/  Kaye Oakes                         /s/  Hayseed Stephens
                                             Hayseed Stephens
                                             Hayseed Stephens Oil, Inc.

(2)  /s/  Walter Littlefield                 /s/  Bob Lee
                                             Bob Lee

Ness Energy International, Inc.

Signatures of Witnesses          Signature of Maker and PayeeEXHIBIT 4.1

===============================================================================

                            GMAC MORTGAGE CORPORATION
                                  as Servicer,

                     GMACM HOME EQUITY LOAN TRUST 2001-HE4,
                                    as Issuer

                                       and

                         BANK ONE, NATIONAL ASSOCIATION
                              as Indenture Trustee

                            -------------------------

                               SERVICING AGREEMENT

                          Dated as of October 25, 2001

                            -------------------------

================================================================================

<PAGE>

<TABLE>
<CAPTION>

                                TABLE OF CONTENTS

                                                                                          Page

<S>                                                                                        <C>
ARTICLE I         Definitions...............................................................2

        Section 1.01     Definitions........................................................2

        Section 1.02     Other Definitional Provisions......................................2

        Section 1.03     Interest Calculations..............................................3

ARTICLE II        Representations and Warranties............................................4

        Section 2.01     Representations and Warranties Regarding the Servicer..............4

        Section 2.02     Representations and Warranties of the Issuer.......................5

        Section 2.03     Enforcement of Representations and Warranties......................5

ARTICLE III       Administration and Servicing of Mortgage Loans............................7

        Section 3.01     The Servicer.......................................................7

        Section 3.02     Collection of Certain Mortgage Loan Payments.......................9

        Section 3.03     Withdrawals from the Custodial Account............................12

        Section 3.04     Maintenance of Hazard Insurance; Property Protection Expenses.......
               13

        Section 3.05     Modification Agreements; Release of Lien..........................14

        Section 3.06     Trust Estate; Related Documents...................................15

        Section 3.07     Realization Upon Defaulted Mortgage Loans; Loss Mitigation........16

        Section 3.08     Issuer and Indenture Trustee to Cooperate.........................17

        Section 3.09     Servicing Compensation; Payment of Certain Expenses by
               Servicer  ..................................................................18

        Section 3.10     Annual Statement as to Compliance.................................18

        Section 3.11     Annual Servicing Report...........................................19

        Section 3.12     Access to Certain Documentation and Information Regarding the
               Mortgage Loans..............................................................19

        Section 3.13     Maintenance of Certain Servicing Insurance Policies...............19

        Section 3.14     Information Required by the Internal Revenue Service and
               Reports of Foreclosures and Abandonments of Mortgaged Property..............20

        Section 3.15     Optional Repurchase or Transfer of Mortgage Loans.................20

        Section 3.16     [Reserved]........................................................20

        Section 3.17     Pre-Funding Account...............................................20

        Section 3.18     Capitalized Interest Account......................................22

                                                i
<PAGE>

        Section 3.19     Enforcement of Due on Sale Clauses; Assumption and
               Modification Agreements; Certain Assignments................................24

ARTICLE IV        Servicing Certificate....................................................26

        Section 4.01     Statements to Securityholders.....................................26

        Section 4.02     Tax Returns and 1934 Act Reports..................................28

ARTICLE V         Note Payment Account.....................................................29

        Section 5.01     Note Payment Account..............................................29

ARTICLE VI        The Servicer.............................................................30

        Section 6.01     Liability of the Servicer.........................................30

        Section 6.02     Merger or Consolidation of, or Assumption of the Obligations
               of, the Servicer............................................................30

        Section 6.03     Limitation on Liability of the Servicer and Others................30

        Section 6.04     Servicer Not to Resign............................................31

        Section 6.05     Delegation of Duties..............................................31

        Section 6.06     Payment of Indenture Trustee's and Owner Trustee's Fees and
               Expenses; Indemnification...................................................32

ARTICLE VII       Default..................................................................34

        Section 7.01     Servicing Default.................................................34

        Section 7.02     Indenture Trustee to Act; Appointment of Successor................36

        Section 7.03     Notification to Securityholders...................................38

ARTICLE VIII      Miscellaneous Provisions.................................................39

        Section 8.01     Amendment.........................................................39

        Section 8.02     GOVERNING LAW.....................................................39

        Section 8.03     Notices...........................................................39

        Section 8.04     Severability of Provisions........................................39

        Section 8.05     Third-Party Beneficiaries.........................................40

        Section 8.06     Counterparts......................................................40

        Section 8.07     Effect of Headings and Table of Contents..........................40

        Section 8.08     Termination Upon Purchase by the Servicer or Liquidation of
               All Mortgage Loans; Partial Redemption......................................40

        Section 8.09     Certain Matters Affecting the Indenture Trustee...................41

        Section 8.10     Owner Trustee Not Liable for Related Documents....................41
</TABLE>

                                        ii

<PAGE>

EXHIBIT A - MORTGAGE LOAN SCHEDULE          A-1

EXHIBIT B - LIMITED POWER OF ATTORNEY       B-1

EXHIBIT C - FORM OF REQUEST FOR RELEASE     C-1

                                        iii
<PAGE>

        This   Servicing   Agreement,   dated  as  of  October   25,  2001  (the
"Agreement"),  is among GMAC Mortgage Corporation, as servicer (the "Servicer"),
the GMACM Home Equity Loan Trust 2001-HE4,  as issuer (the  "Issuer"),  and Bank
One, National Association, as indenture trustee (the "Indenture Trustee").

                                   WITNESSETH:

        WHEREAS,  pursuant to the terms of the  Purchase  Agreement  (as defined
herein), GMAC Mortgage Corporation, as seller (in such capacity, "GMACM") and as
servicer and Walnut Grove Mortgage Loan Trust 2001-A,  as seller ("WG Trust" and
together with GMACM,  the  "Sellers"),  will sell to Residential  Asset Mortgage
Products,  Inc. ("RAMP"), as purchaser (in such capacity, the "Purchaser"),  the
Initial  Mortgage  Loans on the Closing Date, and may sell  Subsequent  Mortgage
Loans on one or more  Subsequent  Transfer Dates, in each case together with the
Related Documents on the Closing Date and any Subsequent Transfer Date;

        WHEREAS,  RAMP, as depositor (in such capacity,  the "Depositor"),  will
sell the Initial  Mortgage Loans and assign all of its rights under the Purchase
Agreement  to the Issuer,  together  with the Related  Documents  on the Closing
Date;

     WHEREAS,  pursuant  to the terms of the Trust  Agreement,  the Issuer  will
issue the Certificates;

     WHEREAS,  pursuant to the terms of the Indenture, the Issuer will issue the
Notes; and

        WHEREAS,  pursuant to the terms of this  Agreement,  the  Servicer  will
service the Mortgage Loans directly or through one or more Subservicers.

        NOW,  THEREFORE,   in  consideration  of  the  mutual  covenants  herein
contained, the parties hereto agree as follows:

<PAGE>

                                    ARTICLE I

                                   Definitions

Section  1.01  Definitions.  For all  purposes  of  this  Agreement,  except  as
otherwise  expressly  provided herein or unless the context otherwise  requires,
capitalized  terms not otherwise defined herein shall have the meanings assigned
to such terms in the Definitions  contained in Appendix A to the indenture dated
as of October 25, 2001 (the  "Indenture"),  between the Issuer and the Indenture
Trustee,  which is incorporated by reference herein. All other capitalized terms
used herein shall have the meanings specified herein.

Section 1.02   Other Definitional Provisions.

(a)  All terms defined in this  Agreement  shall have the defined  meanings when
     used in any certificate or other document made or delivered pursuant hereto
     unless otherwise defined therein.

(b)  As used in this Agreement and in any  certificate or other document made or
     delivered pursuant hereto or thereto,  accounting terms not defined in this
     Agreement or in any such  certificate  or other  document,  and  accounting
     terms partly defined in this Agreement or in any such  certificate or other
     document,  to the extent not defined,  shall have the  respective  meanings
     given to them under generally accepted accounting principles. To the extent
     that the  definitions of accounting  terms in this Agreement or in any such
     certificate  or other document are  inconsistent  with the meanings of such
     terms under  generally  accepted  accounting  principles,  the  definitions
     contained in this  Agreement or in any such  certificate  or other document
     shall control.

(c)  The words "hereof," "herein,"  "hereunder" and words of similar import when
     used in this Agreement  shall refer to this Agreement as a whole and not to
     any particular provision of this Agreement;  Section and Exhibit references
     contained in this  Agreement are  references to Sections and Exhibits in or
     to this Agreement unless otherwise  specified;  the term "including"  shall
     mean "including without limitation";  "or" shall include "and/or";  and the
     term "proceeds" shall have the meaning ascribed thereto in the UCC.

(d)  The definitions  contained in this Agreement are applicable to the singular
     as well as the plural  forms of such terms and to the  masculine as well as
     the feminine and neuter genders of such terms.

(e)  Any  agreement,  instrument or statute  defined or referred to herein or in
     any instrument or certificate  delivered in connection  herewith means such
     agreement,  instrument or statute as from time to time amended, modified or
     supplemented  and  includes  (in the  case of  agreements  or  instruments)
     references to all attachments thereto and instruments incorporated therein;
     references to a Person are also to its permitted successors and assigns.

                                       2
<PAGE>

Section 1.03 Interest Calculations.  All calculations of interest hereunder that
are made in respect of the Principal Balance of a Mortgage Loan shall be made on
a daily basis using a 365-day year.  All  calculations  of interest on the Class
A-1 Notes shall be made on the basis of the actual number of days in an Interest
Period and a year assumed to consist of 360 days. All  calculations  of interest
on the Class A-2 Notes,  the Class A-3 Notes, the Class A-4 Notes, the Class A-5
Notes and the Class A-IO Notes shall be made on the basis of a 30-day  month and
a year assumed to consist of 360 days.  The  calculation  of the  Servicing  Fee
shall be made on the basis of a 360-day year consisting of twelve 30-day months.
All dollar amounts  calculated  hereunder  shall be rounded to the nearest penny
with one-half of one penny being rounded up.

                                       3
<PAGE>

                                   ARTICLE II

                         Representations and Warranties

Section 2.01 Representations and Warranties Regarding the Servicer. The Servicer
represents  and  warrants  to the  Issuer and for the  benefit of the  Indenture
Trustee, as pledgee of the Mortgage Loans, as of the Closing Date:

(a)  the Servicer is a corporation duly organized,  validly existing and in good
     standing under the laws of the  Commonwealth  of  Pennsylvania  and has the
     corporate  power to own its assets and to transact the business in which it
     is currently  engaged.  The Servicer is duly  qualified to do business as a
     foreign  corporation and is in good standing in each  jurisdiction in which
     the  character  of the business  transacted  by it or  properties  owned or
     leased by it  requires  such  qualification  and in which the failure to so
     qualify would have a material adverse effect (not in the ordinary course of
     business) on the business,  properties,  assets, or condition (financial or
     other) of the Servicer;

(b)  the Servicer  has the power and  authority  to make,  execute,  deliver and
     perform this Agreement and all of the transactions  contemplated under this
     Agreement,  and has taken all necessary  corporate  action to authorize the
     execution,  delivery and performance of this  Agreement.  When executed and
     delivered,  this Servicing  Agreement will constitute the legal,  valid and
     binding  obligation  of the Servicer  enforceable  in  accordance  with its
     terms,  except as  enforcement  of such terms may be limited by bankruptcy,
     insolvency or similar laws affecting the  enforcement of creditors'  rights
     generally and by the availability of equitable remedies;

(c)  the  Servicer is not  required to obtain the consent of any other Person or
     any consent,  license,  approval or authorization  from, or registration or
     declaration  with,  any  governmental   authority,   bureau  or  agency  in
     connection  with  the  execution,   delivery,   performance,   validity  or
     enforceability  of  this  Agreement,  except  for  such  consent,  license,
     approval or  authorization,  or registration or declaration,  as shall have
     been obtained or filed, as the case may be;

(d)  the execution and delivery of this  Agreement  and the  performance  of the
     transactions  contemplated  hereby by the  Servicer  will not  violate  any
     material provision of any existing law or regulation or any order or decree
     of any court applicable to the Servicer or any provision of the Articles of
     Incorporation or Bylaws of the Servicer, or constitute a material breach of
     any material mortgage,  indenture, contract or other agreement to which the
     Servicer is a party or by which the Servicer may be bound;

(e)  no litigation or administrative proceeding of or before any court, tribunal
     or  governmental  body is  currently  pending,  or to the  knowledge of the
     Servicer threatened,  against the Servicer or any of its properties or with
     respect to this  Agreement  or the  Securities  which in the opinion of the
     Servicer has a  reasonable  likelihood  of resulting in a material  adverse
     effect on the transactions contemplated by this Agreement;

                                       4
<PAGE>

(f)  the Servicer is a member of MERS in good  standing,  and will comply in all
     material  respects with the rules and procedures of MERS in connection with
     the servicing of the Mortgage Loans that are registered with MERS; and

(g)  the  servicing  of the  Mortgage  Loans has at all times been  conducted in
     material  compliance  with all  applicable  federal,  state and local laws,
     rules and regulations, and there has been no material violation of any such
     laws,  rules or  regulations  arising out of the  servicing of the Mortgage
     Loans.

        The  foregoing   representations   and  warranties   shall  survive  any
termination of the Servicer hereunder.

Section 2.02  Representations  and  Warranties of the Issuer.  The Issuer hereby
represents  and warrants to the  Servicer  and for the benefit of the  Indenture
Trustee, as pledgee of the Mortgage Loans, as of the Closing Date:

(a)  the Issuer is a business  trust duly formed and in good standing  under the
     laws of the State of Delaware and has full power, authority and legal right
     to execute and deliver this Agreement and to perform its obligations  under
     this  Agreement,  and has  taken all  necessary  action  to  authorize  the
     execution, delivery and performance by it of this Agreement; and

(b)  the  execution  and  delivery  by the  Issuer  of  this  Agreement  and the
     performance by the Issuer of its obligations  under this Agreement will not
     violate any provision of any law or regulation  governing the Issuer or any
     order,  writ,  judgment or decree of any court,  arbitrator or governmental
     authority  or agency  applicable  to the Issuer or any of its assets.  Such
     execution,  delivery,  authentication  and performance will not require the
     authorization,  consent or approval of, the giving of notice to, the filing
     or  registration  with,  or the taking of any other action with respect to,
     any governmental  authority or agency  regulating the activities of limited
     liability   companies.   Such  execution,   delivery,   authentication  and
     performance  will not conflict with, or result in a breach or violation of,
     any  mortgage,  deed of trust,  lease or other  agreement or  instrument to
     which the Issuer is bound.

Section 2.03 Enforcement of  Representations  and Warranties.  The Servicer,  on
behalf of and subject to the direction of the Indenture  Trustee,  as pledgee of
the  Mortgage  Loans,  or the  Issuer,  shall  enforce the  representations  and
warranties of GMAC  Mortgage  Corporation  or WG Trust  pursuant to the Purchase
Agreement.  Upon the discovery by the Sellers, the Depositor,  the Servicer, the
Indenture Trustee, the Enhancer, the Issuer, or the Custodian of a breach of any
of the representations  and warranties made by either GMAC Mortgage  Corporation
or WG Trust in the Purchase  Agreement,  in respect of any  Mortgage  Loan which
materially  and adversely  affects the interests of the  Securityholders  or the
Enhancer,  the party discovering such breach shall give prompt written notice to
the  other  parties  (the  Custodian  being so  obligated  under  the  Custodial
Agreement).  The Servicer shall promptly notify either GMAC Mortgage Corporation
or WG Trust,  as  applicable,  of such breach and request that,  pursuant to the

                                       5
<PAGE>

terms of the  Purchase  Agreement,  the  respective  party  either (i) cure such
breach in all  material  respects  within  90 days from the date such  party was
notified  of such  breach,  or in the case of a breach  which has the  effect of
making the Mortgage Loan fail to be a "qualified mortgage" within the meaning of
Section 860G of the Internal  Revenue  Code,  within 90 days after the discovery
thereof by the Sellers, the Depositor,  the Servicer, the Indenture Trustee, the
Enhancer,  the Issuer or the  Purchaser or (ii) purchase such Mortgage Loan from
the Issuer at the price and in the  manner  set forth in  Section  3.1(d) of the
Purchase Agreement;  provided, that either GMAC Mortgage Corporation or WG Trust
shall,  subject to the conditions set forth in the Purchase Agreement,  have the
option to  substitute  an Eligible  Substitute  Loan or Loans for such  Mortgage
Loan,  provided that such  substitution  occurs  within two years  following the
Closing  Date. In the event that either GMAC  Mortgage  Corporation  or WG Trust
elects to substitute one or more Eligible  Substitute  Loans pursuant to Section
3.1(d) of the Purchase  Agreement,  such party shall deliver to the Custodian or
the Servicer,  in accordance with the Purchase  Agreement,  with respect to such
Eligible  Substitute Loans, the original  Mortgage Note, the Mortgage,  and such
other  documents  and  agreements  as are  required by the  Purchase  Agreement.
Payments  due  with  respect  to  Eligible  Substitute  Loans  in the  month  of
substitution  shall not be transferred to the Issuer and will be retained by the
Servicer  and  remitted  by the  Servicer  to such party on the next  succeeding
Payment  Date  except  to the  extent  that a payment  less than the  applicable
Monthly Payment has been received by the Issuer for such month in respect of the
Mortgage Loan to be removed. The Servicer shall amend or cause to be amended the
Mortgage  Loan  Schedule to reflect the  removal of such  Mortgage  Loan and the
substitution  of the Eligible  Substitute  Loans and the Servicer shall promptly
deliver the amended  Mortgage  Loan  Schedule to the Owner Trustee and Indenture
Trustee.

        It is  understood  and  agreed  that  the  obligation  of GMAC  Mortgage
Corporation  and WG Trust to cure such breach or purchase or substitute for such
Mortgage  Loan as to which such a breach has  occurred and is  continuing  shall
constitute the sole remedy  respecting  such breach  available to the Issuer and
the Indenture  Trustee,  as pledgee of the Mortgage  Loans,  against either GMAC
Mortgage  Corporation  or WG  Trust.  In  connection  with  the  purchase  of or
substitution  for any such Mortgage Loan by either GMAC Mortgage  Corporation or
WG Trust,  the Issuer  shall  assign to such  party all of its right,  title and
interest in respect of the Purchase Agreement  applicable to such Mortgage Loan.
Upon receipt of the Repurchase  Price, or upon completion of such  substitution,
the Servicer  shall notify the  Custodian,  and the Custodian  shall deliver the
Mortgage  Notes to the  Servicer,  together with all relevant  endorsements  and
assignments prepared by the Servicer that the Indenture Trustee shall execute.

                                       6
<PAGE>

                                  ARTICLE III

                 Administration and Servicing of Mortgage Loans

Section 3.01   The Servicer.

(a)  The Servicer  shall service and  administer  the Mortgage Loans in a manner
     generally  consistent  with the terms of the Program  Guide and in a manner
     consistent  with the terms of this  Agreement  and that shall be normal and
     usual in its general mortgage servicing  activities and consistent with the
     manner in which it  services  all  other  Mortgage  Loans in its  servicing
     portfolio with characteristics  similar to those of the Mortgage Loans. The
     Servicer  shall have full power and  authority,  acting  alone or through a
     Subservicer, to do any and all things in connection with such servicing and
     administration  which  it  may  deem  necessary  or  desirable,   it  being
     understood,   however,   that  the  Servicer  shall  at  all  times  remain
     responsible  to the Issuer  and the  Indenture  Trustee,  as pledgee of the
     Mortgage Loans, for the performance of its duties and obligations hereunder
     in accordance with the terms hereof and the Program Guide. Without limiting
     the generality of the foregoing, the Servicer shall continue, and is hereby
     authorized  and  empowered  by the Issuer  and the  Indenture  Trustee,  as
     pledgee of the Mortgage Loans, to execute and deliver, on behalf of itself,
     the Issuer,  the Indenture  Trustee or any of them, any and all instruments
     of satisfaction or cancellation, or of partial or full release or discharge
     and all other comparable instruments with respect to the Mortgage Loans and
     the  Mortgaged  Properties.  The  Issuer,  the  Indenture  Trustee  and the
     Custodian,  as  applicable,  shall  furnish the Servicer with any powers of
     attorney  and other  documents  necessary  or  appropriate  to  enable  the
     Servicer to carry out its servicing and administrative duties hereunder. In
     addition,  the  Servicer  may, at its own  discretion  and on behalf of the
     Indenture  Trustee,  obtain  credit  information  in the form of a  "credit
     score" from a credit repository. On the Closing Date, the Indenture Trustee
     shall deliver to the Servicer a limited power of attorney  substantially in
     the form of  Exhibit B hereto.  The  Servicer  is  further  authorized  and
     empowered  by the  Issuer  and the  Indenture  Trustee,  on  behalf  of the
     Noteholders  and the Indenture  Trustee,  in its own name or in the name of
     the Subservicer,  when the Servicer or the Subservicer, as the case may be,
     believes it  appropriate in its best judgment to register any Mortgage Loan
     on the  MERS(R)System,  or cause the removal from the  registration  of any
     Mortgage Loan on the  MERS(R)System,  to execute and deliver,  on behalf of
     the  Indenture  Trustee  and the  Noteholders  or any of them,  any and all
     instruments of assignment and other comparable  instruments with respect to
     such assignment or  re-recording of a Mortgage in the name of MERS,  solely
     as nominee for the Indenture  Trustee and its successors  and assigns.  Any
     expenses incurred in connection with the actions described in the preceding
     sentence shall be borne by the Servicer, with no right of reimbursement.

        Notwithstanding the foregoing,  subject to Section 3.02(a), the Servicer
shall not permit any  modification  with respect to any Mortgage Loan that would
both  constitute a sale or exchange of such  Mortgage Loan within the meaning of
Section  1001 of the  Code and any  proposed,  temporary  or  final  regulations

                                       7
<PAGE>

promulgated  thereunder  and cause either REMIC I or REMIC II to fail to qualify
as a REMIC  under the Code or,  except as  provided  in Section  11.01(f) of the
Indenture,  cause the  imposition of a tax upon either of the REMICs  (including
but not  limited  to the tax on  prohibited  transactions  as defined in Section
860F(a)(2)  of the Code and the tax on  contributions  to a REMIC  set  forth in
Section 860G(d) of the Code).

        If the Mortgage did not have a Lien senior to the related  Mortgage Loan
on the  related  Mortgaged  Property as of the related  Cut-Off  Date,  then the
Servicer,  in such capacity,  may not consent to the placing of a Lien senior to
that of the Mortgage on the related  Mortgaged  Property.  If the Mortgage had a
Lien senior to the related Mortgage Loan on the related Mortgaged Property as of
the related Cut-Off Date, then the Servicer,  in such capacity,  may not consent
to the refinancing of such prior senior Lien.

        The  relationship  of the Servicer (and of any successor to the Servicer
as servicer under this Agreement) to the Issuer under this Agreement is intended
by the parties to be that of an  independent  contractor and not that of a joint
venturer, partner or agent.

(b)  The Servicer may enter into  Subservicing  Agreements with Subservicers for
     the  servicing  and  administration  of  certain  of  the  Mortgage  Loans.
     References  in this  Agreement  to  actions  taken  or to be  taken  by the
     Servicer in servicing  the Mortgage  Loans  include  actions taken or to be
     taken by a  Subservicer  on behalf of the Servicer and any amount  actually
     received by such  Subservicer in respect of a Mortgage Loan shall be deemed
     to have been received by the Servicer  whether or not actually  received by
     the  Servicer.  Each  Subservicing  Agreement  will be upon such  terms and
     conditions as are not inconsistent  with this Agreement and as the Servicer
     and the  Subservicer  have  agreed.  With the approval of the  Servicer,  a
     Subservicer   may  delegate  its  servicing   obligations   to  third-party
     servicers,  but such  Subservicers  will remain obligated under the related
     Subservicing  Agreements.  The Servicer and the  Subservicer may enter into
     amendments to the related Subservicing Agreements;  provided, however, that
     any such amendments  shall not cause the Mortgage Loans to be serviced in a
     manner that would be materially  inconsistent  with the standards set forth
     in this  Agreement.  The  Servicer  shall  be  entitled  to  terminate  any
     Subservicing  Agreement in accordance with the terms and conditions thereof
     and without any limitation by virtue of this Agreement;  provided, however,
     that in the  event of  termination  of any  Subservicing  Agreement  by the
     Servicer or the  Subservicer,  the Servicer shall either act as servicer of
     the related  Mortgage Loan or enter into a  Subservicing  Agreement  with a
     successor  Subservicer  which  will be  bound by the  terms of the  related
     Subservicing  Agreement.  The Servicer  shall be entitled to enter into any
     agreement  with a  Subservicer  for  indemnification  of the  Servicer  and
     nothing contained in this Agreement shall be deemed to limit or modify such
     indemnification.

        In the event that the rights, duties and obligations of the Servicer are
terminated hereunder,  any successor to the Servicer in its sole discretion may,
to the extent permitted by applicable law,  terminate the existing  Subservicing
Agreement with any  Subservicer  in accordance  with the terms of the applicable
Subservicing   Agreement  or  assume  the  terminated   Servicer's   rights  and
obligations under such subservicing arrangements which termination or assumption
will not violate the terms of such arrangements.

                                       8
<PAGE>

        As part of its servicing  activities  hereunder,  the Servicer,  for the
benefit of the Indenture Trustee,  the Enhancer and the  Securityholders,  shall
use reasonable  efforts to enforce the obligations of each Subservicer under the
related  Subservicing  Agreement,  to the extent that the non-performance of any
such  obligation  would have a material  adverse effect on a Mortgage Loan. Such
enforcement,  including,  without  limitation,  the legal prosecution of claims,
termination  of  Subservicing  Agreements  and the pursuit of other  appropriate
remedies,  shall be in such form and  carried  out to such an extent and at such
time as the Servicer, in its good faith business judgment, would require were it
the owner of the related  Mortgage  Loans.  The Servicer  shall pay the costs of
such enforcement at its own expense,  and shall be reimbursed  therefor only (i)
from a general recovery  resulting from such enforcement to the extent,  if any,
that such  recovery  exceeds all amounts due in respect of the related  Mortgage
Loan or (ii) from a specific  recovery  of costs,  expenses  or  attorneys  fees
against the party against whom such enforcement is directed.

        (c)    All  other  documents  contained  in the  Mortgage  File  and any
               original  documents  relating to the Mortgage Loans not contained
               in the Mortgage  File or delivered to the  Custodian,  if any, or
               the  Indenture  Trustee are and shall be held by the  Servicer in
               trust  as  agent  for the  Indenture  Trustee  on  behalf  of the
               Noteholders.

Section 3.02   Collection of Certain Mortgage Loan Payments.

(a)  The Servicer shall make  reasonable  efforts to collect all payments called
     for under the terms and provisions of the Mortgage Loans, and shall, to the
     extent  such  procedures  shall  be  consistent  with  this  Agreement  and
     generally  consistent  with  the  Program  Guide,  follow  such  collection
     procedures as shall be normal and usual in its general  mortgage  servicing
     activities  and  consistent  with the  procedures  the Servicer  employs in
     servicing  all  other  Mortgage  Loans  in  the  servicing  portfolio  with
     characteristics similar to those of the Mortgage Loans. Consistent with the
     foregoing,  and without  limiting  the  generality  of the  foregoing,  the
     Servicer may in its discretion (i) waive any late payment  charge,  penalty
     interest or other fees which may be  collected  in the  ordinary  course of
     servicing a Mortgage  Loan and (ii) arrange with a Mortgagor a schedule for
     the payment of principal and interest due and unpaid;  provided,  that such
     arrangement is consistent with the Servicer's policies with respect to home
     equity mortgage loans;  and provided  further,  that  notwithstanding  such
     arrangement,  such  Mortgage  Loans  will be  included  in the  information
     regarding delinquent Mortgage Loans set forth in the Servicing Certificate.
     The  Servicer  may also  extend the Due Date for  payment due on a Mortgage
     Loan in accordance  with the Program  Guide;  provided,  however,  that the
     Servicer  shall first  determine that any such waiver or extension will not
     impair the coverage of any related insurance policy or materially adversely
     affect  the  Lien  of  the  related   Mortgage  or  the  interests  of  the
     Securityholders  or the Enhancer and the Servicer  shall not grant any such
     waiver or extension  that would have any such effect.  Consistent  with the
     terms of this Agreement, the Servicer may also:

                                       9
<PAGE>

(i)  waive, modify or vary any term of any Mortgage Loan;

(ii) consent to the  postponement of strict  compliance with any such term or in
     any manner grant indulgence to any Mortgagor;

(iii)arrange  with a  Mortgagor  a schedule  for the  payment of  principal  and
     interest due and unpaid;

(iv) forgive any portion of the amounts  contractually  owed under the  Mortgage
     Loan;

(v)  capitalize  past due  amounts  owed under the  Mortgage  Loan by adding any
     amounts in arrearage to the existing principal balance of the Mortgage Loan
     (a  "Capitalization  Workout")  which will result in an  increased  Monthly
     Payment  amount,  provided  that:  (A) the  amount  added  to the  existing
     principal balance of the Mortgage Loan (the "Capitalized  Amount") shall be
     no greater than five times the Mortgagor's  current Monthly Payment amount;
     and (B) the Servicer shall not enter into a  Capitalization  Workout unless
     the CLTV of the Mortgage Loan prior to the Capitalization Workout equals or
     exceeds 80% and the Mortgagor has qualified for the Capitalization  Workout
     under the Servicer's servicing guidelines; or

(vi) reset the maturity date for the Mortgage  Loan,  but in no event shall such
     reset date extend  beyond the end of the  Collection  Period  preceding the
     Final Payment Date;

or any  combination of the foregoing,  if in the Servicer's  determination  such
waiver,  modification,  postponement or indulgence is not materially  adverse to
the interests of the Securityholders or the Enhancer;  provided,  however,  that
the  Servicer  may not modify or permit any  Subservicer  to modify any Mortgage
Loan (including  without  limitation any modification that would change the Loan
Rate,  forgive the payment of any  principal or interest  (unless in  connection
with the liquidation of the related  Mortgage Loan) or extend the final maturity
date of such  Mortgage  Loan) unless such Mortgage Loan is in default or, in the
judgment of the Servicer,  such default is reasonably  foreseeable.  The general
terms of any waiver, modification,  forgiveness, postponement or indulgence with
respect  to any  of  the  Mortgage  Loans  will  be  included  in the  Servicing
Certificate, and such Mortgage Loans will not be considered "delinquent" for the
purposes of the Basic Documents so long as the Mortgagor complies with the terms
of such waiver, modification, forgiveness, postponement or indulgence.

(b)  The  Servicer  shall  establish  a  Custodial  Account,  which  shall be an
     Eligible Account,  titled "GMACM Home Equity Loan Trust  2001-HE4,"in which
     the  Servicer   shall   deposit  or  cause  to  be  deposited  any  amounts
     representing  payments and  collections in respect of the Initial  Mortgage
     Loans  received by it subsequent to or on the Cut-Off Date or, with respect
     to the Subsequent  Mortgage Loans, the Subsequent  Cut-Off Date (other than
     in respect of the payments referred to in the following paragraph),  within
     one Business Day following receipt thereof (or otherwise on or prior to the
     Closing Date), including the following payments and collections received or
     made by it (without duplication):

                                       10
<PAGE>

(i)  all payments of principal of or interest on the Mortgage  Loans received or
     advanced  by the  Servicer,  net of any  portion  of the  interest  thereof
     retained by any Subservicer as subservicing fees;

(ii) the  aggregate  Repurchase  Price of the  Mortgage  Loans  purchased by the
     Servicer pursuant to Section 3.15;

(iii)   Net Liquidation Proceeds, net of any related Foreclosure Profit;

(iv) all proceeds of any Mortgage Loans  repurchased  by the Seller  pursuant to
     the Purchase Agreement, and all Substitution Adjustment Amounts required to
     be deposited in connection with the substitution of an Eligible  Substitute
     Loan pursuant to the Purchase Agreement;

(v)  Insurance Proceeds, other than Net Liquidation Proceeds, resulting from any
     insurance policy maintained on a Mortgaged Property; and

(vi) amounts required to be paid by the Servicer pursuant to Section 8.08;

provided,  however,  that with respect to each Collection  Period,  the Servicer
shall be  permitted  to retain  from  payments  in  respect of  interest  on the
Mortgage  Loans,  the Servicing Fee for such  Collection  Period.  The foregoing
requirements  respecting  deposits to the Custodial  Account are  exclusive,  it
being  understood that,  without  limiting the generality of the foregoing,  the
Servicer  need  not  deposit  in  the  Custodial  Account  amounts  representing
Foreclosure  Profits,  fees  (including  annual fees) or late charge  penalties,
payable by  Mortgagors  (such  amounts to be  retained as  additional  servicing
compensation in accordance with Section 3.09 hereof), or amounts received by the
Servicer for the accounts of Mortgagors for  application  towards the payment of
taxes,  insurance  premiums,  assessments  and similar  items.  In the event any
amount not required to be deposited in the  Custodial  Account is so  deposited,
the Servicer may at any time withdraw  such amount from the  Custodial  Account,
any provision herein to the contrary notwithstanding.  The Servicer shall retain
all Foreclosure Profits as additional servicing compensation.

        The  Servicer,  in its sole  discretion,  may deposit into the Custodial
Account  amounts  representing  installments  of  principal  of or  interest  on
Mortgage  Loans that were  delinquent  as of the end of any  Collection  Period,
provided  that the  Servicer  reasonably  believes  that  such  amounts  will be
recoverable from Collections on the related Mortgage Loan. If the Servicer makes
any such advances of delinquent principal and/or interest, the Servicer shall be
entitled to reimburse  itself by  withdrawing  from the  Custodial  Account,  as
provided herein, any amounts so advanced. The Servicer may cause the institution
maintaining the Custodial  Account to invest any funds in the Custodial  Account
in Permitted  Investments  (including  obligations of the Servicer or any of its
Affiliates,  if such obligations  otherwise  qualify as Permitted  Investments),
which  investments  shall mature not later than the Business Day  preceding  the
next  succeeding  Payment  Date,  and  which  investments  shall  not be sold or
disposed of prior to maturity.  In addition,  no such Permitted Investment shall
be purchased at a price in excess of par. Except as provided  above,  all income

                                       11
<PAGE>

and gain  realized  from any such  investment  shall inure to the benefit of the
Servicer and shall be subject to its  withdrawal or order from time to time. The
amount of any losses  incurred  in respect of the  principal  amount of any such
investments  shall be deposited in the Custodial  Account by the Servicer out of
its own funds immediately as realized.

     (c)  The  Servicer  shall  require  each  Subservicer  to  hold  all  funds
          constituting  collections on the Mortgage  Loans,  pending  remittance
          thereof  to  the  Servicer,  in  one  or  more  accounts  meeting  the
          requirements of an Eligible Account,  and shall require all such funds
          to be invested in Permitted  Investments,  unless all such collections
          are  remitted on a daily basis to the  Servicer  for deposit  into the
          Custodial Account.

Section 3.03 Withdrawals from the Custodial  Account.  The Servicer shall,  from
time to time as provided herein,  make withdrawals from the Custodial Account of
amounts on deposit therein pursuant to Section 3.02 that are attributable to the
Mortgage Loans for the following purposes:

(a)  on each  Determination  Date,  the Servicer  shall  determine the aggregate
     amounts to be withdrawn from the Custodial  Account and applied pursuant to
     Section 3.05(a) of the Indenture and, prior to the close of business on the
     Business Day prior to the related Payment Date, shall withdraw such amounts
     from the  Custodial  Account and deposit such amounts into the Note Payment
     Account to be distributed by the Paying Agent in accordance with and in the
     order or priority set forth in Section  3.05(a) of the  Indenture  for such
     Payment Date, in accordance with the Servicing Certificate;

(b)  to pay to itself from any monthly  payments  received from the  Mortgagors,
     the amount of such payment that represents  interest accrued on the related
     Mortgage Loan for any period prior to the Cut-Off Date;

(c)  to the extent  deposited to the Custodial  Account,  to reimburse itself or
     the related  Subservicer for previously  unreimbursed  expenses incurred in
     maintaining  individual  insurance  policies  pursuant to Section  3.04, or
     Liquidation   Expenses,   paid   pursuant  to  Section  3.07  or  otherwise
     reimbursable  pursuant  to the terms of this  Agreement  (to the extent not
     payable  pursuant to Section 3.09),  such withdrawal right being limited to
     amounts  received on particular  Mortgage  Loans (other than any Repurchase
     Price in respect  thereof) that represent  late  recoveries of the payments
     for which such advances were made, or from related Net Liquidation Proceeds
     or the proceeds of the purchase of such Mortgage Loan;

(d)  to pay to itself out of each  payment  received on account of interest on a
     Mortgage  Loan as  contemplated  by Section  3.09,  an amount  equal to the
     related  Servicing  Fee (to the extent  not  retained  pursuant  to Section
     3.02), and to pay to any Subservicer any  subservicing  fees not previously
     withheld by such Subservicer;

(e)  to the  extent  deposited  in the  Custodial  Account,  to pay to itself as
     additional  servicing  compensation  any (i) interest or investment  income

                                       12
<PAGE>

     earned on funds  deposited in the Custodial  Account that it is entitled to
     withdraw  pursuant  to  Sections  3.02(b)  and 5.01,  and (ii)  Foreclosure
     Profits (to the extent permitted by law);

(f)  to pay to  itself or the  Seller,  with  respect  to any  Mortgage  Loan or
     property  acquired in respect  thereof that has been purchased or otherwise
     transferred  to such  Seller,  the  Servicer or other  entity,  all amounts
     received thereon and not required to be distributed to  Securityholders  as
     of the date on which the  related  Purchase  Price or  Repurchase  Price is
     determined;

(g)  to withdraw any other amount  deposited in the  Custodial  Account that was
     not required to be deposited therein pursuant to Section 3.02;

(h)  to pay to itself,  with respect to any Mortgage  Loan for which it has made
     an  advance  of  delinquent  principal  and/or  interest,   any  previously
     unreimbursed  advances of such  amounts  theretofore  made to the extent of
     receipts of late  recoveries of such payments from the related  Mortgagors,
     out of related Net Liquidation  Proceeds or the proceeds of the purchase of
     such Mortgage Loans;

(i)  to  reimburse  itself for the amount of any  investment  earnings  advanced
     prior to  maturity  pursuant  to Section  3.17(c) or Section  5.01,  to the
     extent not reimbursed from earnings  received on the related  investment at
     maturity;

(j)  at its option, for so long as it is the sole  Certificateholder,  to pay to
     itself from amounts  otherwise  required to be remitted to the Distribution
     Account in accordance  with Section  3.05(a)(xiii)  of the  Indenture,  all
     amounts payable to it as a  Certificateholder  on the related Payment Date;
     and

(k)  to reimburse itself for advances of delinquent principal and/or interest on
     a Mortgage Loan or other  advances that are made pursuant to this Agreement
     that are not  reimbursed  pursuant to clauses  (c) and (h) of this  Section
     3.03.

        Since, in connection with withdrawals  pursuant to clauses (c), (d), (f)
and (h), the Servicer's  entitlement  thereto is limited to collections or other
recoveries on the related  Mortgage  Loan,  the Servicer shall keep and maintain
separate accounting,  on a Mortgage Loan by Mortgage Loan basis, for the purpose
of  justifying  any  withdrawal  from the  Custodial  Account  pursuant  to such
clauses.  Notwithstanding  any other provision of this  Agreement,  the Servicer
shall be entitled to reimburse itself for any previously  unreimbursed  expenses
incurred  pursuant to Section  3.07 or  otherwise  reimbursable  pursuant to the
terms  of  this  Agreement   that  the  Servicer   determines  to  be  otherwise
nonrecoverable  (except  with  respect  to any  Mortgage  Loan as to  which  the
Repurchase  Price has been paid),  by withdrawal  from the Custodial  Account of
amounts on deposit  therein  attributable  to the Mortgage Loans on any Business
Day prior to the Payment Date succeeding the date of such determination.

Section 3.04 Maintenance of Hazard Insurance;  Property Protection Expenses.  To
the extent  permitted under the related  Mortgage Note and Mortgage,  and to the
extent the  Servicer  receives  notice that a hazard  insurance  policy has been
cancelled,  the Servicer  shall cause to be  maintained  for each  Mortgage Loan
hazard  insurance  naming  the  Servicer  or related  Subservicer  as loss payee

                                       13
<PAGE>

thereunder  providing  extended coverage in an amount which is at least equal to
the lesser of (i) the maximum insurable value of the improvements  securing such
Mortgage Loan from time to time or (ii) the combined  principal balance owing on
such  Mortgage Loan and any mortgage loan senior to such Mortgage Loan from time
to time; provided,  however, that such coverage may not be less than the minimum
amount required to fully compensate for any loss or damage on a replacement cost
basis.  The Servicer shall use its best efforts to monitor that hazard insurance
is  maintained  as described  in the previous  sentence in the same manner as it
would for mortgage loans in its own portfolio.  The Servicer shall also cause to
be  maintained  on  property  acquired  upon  foreclosure,  or  deed  in lieu of
foreclosure,  of any Mortgage Loan, fire insurance with extended  coverage in an
amount which is at least equal to the amount  necessary to avoid the application
of any co-insurance  clause  contained in the related hazard  insurance  policy.
Amounts collected by the Servicer under any such policies (other than amounts to
be applied to the  restoration  or repair of the related  Mortgaged  Property or
property thus acquired or amounts  released to the Mortgagor in accordance  with
the Servicer's normal servicing  procedures) shall be deposited in the Custodial
Account  to the  extent  called  for by  Section  3.02.  In cases  in which  any
Mortgaged  Property is located at any time during the life of a Mortgage Loan in
a federally  designated  flood area, to the extent  permitted  under the related
Mortgage Note and Mortgage,  and to the extent the Servicer receives notice that
the related  flood  insurance  has been  cancelled,  the hazard  insurance to be
maintained for the related  Mortgage Loan shall include flood  insurance (to the
extent  available).  All such flood  insurance  shall be in amounts equal to the
lesser of (i) the amount  required to  compensate  for any loss or damage to the
related  Mortgaged  Property  on a  replacement  cost basis and (ii) the maximum
amount  of such  insurance  available  for such  Mortgaged  Property  under  the
national flood insurance program (assuming that the area in which such Mortgaged
Property is located is  participating  in such program).  The Servicer shall use
its best  efforts to monitor  such flood  insurance as described in the previous
sentence in the same manner as it would for mortgage loans in its own portfolio.
The Servicer shall be under no obligation to require that any Mortgagor maintain
earthquake or other additional insurance and shall be under no obligation itself
to maintain any such additional  insurance on property  acquired in respect of a
Mortgage Loan,  other than pursuant to such  applicable  laws and regulations as
shall at any time be in force and as shall require such additional insurance. If
the  Servicer  shall obtain and maintain a blanket  policy  consistent  with its
general mortgage servicing  activities  insuring against hazard losses on all of
the  Mortgage  Loans,  it shall  conclusively  be deemed to have  satisfied  its
obligations  as set forth in the first  sentence of this Section  3.04, it being
understood and agreed that such policy may contain a deductible clause, in which
case the Servicer  shall, in the event that there shall not have been maintained
on the related Mortgaged  Property a policy complying with the first sentence of
this Section 3.04 and there shall have been a loss which would have been covered
by such  policy,  deposit in the  Custodial  Account  the  amount not  otherwise
payable under the blanket policy  because of such  deductible  clause.  Any such
deposit by the Servicer shall be made on the last Business Day of the Collection
Period in the month in which  payments  under any such  policy  would  have been
deposited  in the  Custodial  Account.  In  connection  with its  activities  as
servicer of the Mortgage  Loans,  the Servicer  agrees to present,  on behalf of
itself,  the Issuer and the  Indenture  Trustee,  claims  under any such blanket
policy.

Section 3.05   Modification Agreements; Release of Lien.

                                       14
<PAGE>

        The  Servicer or the related  Subservicer,  as the case may be, shall be
entitled to (a) execute  assumption  agreements,  substitution  agreements,  and
instruments of  satisfaction  or  cancellation  or of partial or full release or
discharge,  or any  other  document  contemplated  by this  Agreement  and other
comparable  instruments  with respect to the Mortgage  Loans and with respect to
the related Mortgaged  Properties (and the Issuer and the Indenture Trustee each
shall  promptly  execute any such  documents on request of the Servicer) and (b)
approve  the  granting of an easement  thereon in favor of another  Person,  any
alteration or demolition of such Mortgaged  Properties or other similar matters,
if it has  determined,  exercising its good faith business  judgment in the same
manner as it would if it were the owner of the related Mortgage Loans,  that the
security for, and the timely and full  collectability  of, such  Mortgage  Loans
would not be adversely  affected  thereby.  A partial  release  pursuant to this
Section 3.05 shall be permitted  only if the CLTV for the related  Mortgage Loan
after such partial release does not exceed the CLTV for such Mortgage Loan as of
the related  Cut-Off  Date,  and  provided  further  that the  Servicer  and the
Enhancer  have  received an Opinion of Counsel to the effect  that such  partial
release  will not result in an Adverse  REMIC  Event.  Any fee  collected by the
Servicer or the related Subservicer for processing such request will be retained
by the Servicer or such Subservicer as additional servicing compensation.

Section 3.06   Trust Estate; Related Documents.

(a)  When  required  by the  provisions  of this  Agreement,  the  Issuer or the
     Indenture  Trustee shall execute  instruments to release  property from the
     terms  of  the  Trust  Agreement,  Indenture  or  Custodial  Agreement,  as
     applicable,  or convey the Issuer's or the Indenture  Trustee's interest in
     the same,  in a manner and under  circumstances  that are not  inconsistent
     with the provisions of this Agreement.  No party relying upon an instrument
     executed by the Issuer or the Indenture Trustee as provided in this Section
     3.06 shall be bound to ascertain  the Issuer's or the  Indenture  Trustee's
     authority, inquire into the satisfaction of any conditions precedent or see
     to the application of any moneys.

(b)  If  from  time to time  any  written  assurance,  assumption  agreement  or
     substitution  agreement  or  other  similar  agreement  shall  be  executed
     pursuant  to  Section  3.05,  the  Servicer  shall  check that each of such
     documents  purports  to be an  original  executed  copy  (or a copy  of the
     original executed document if the original executed copy has been submitted
     for  recording and has not yet been  returned)  and, if so, shall file such
     documents,  and  upon  receipt  of the  original  executed  copy  from  the
     applicable  recording office or receipt of a copy thereof  certified by the
     applicable  recording office shall file such originals or certified copies,
     with the Related Documents held by the Servicer.

(c)  Upon receipt of a Request for Release from the Servicer,  substantially  in
     the form of Exhibit C hereto,  to the effect that a Mortgage  Loan has been
     the subject of a final  payment or a prepayment  in full and such  Mortgage
     Loan has been terminated or that substantially all Net Liquidation Proceeds
     that have been determined by the Servicer in its reasonable  judgment to be
     finally recoverable have been recovered,  and upon deposit to the Custodial
     Account of such final  monthly  payment,  prepayment  in full together with
     accrued and unpaid  interest to the date of such  payment  with  respect to
     such  Mortgage  Loan or,  if  applicable,  Net  Liquidation  Proceeds,  the
     Custodian  shall  promptly  release  the  Related  Documents  held  by  the

                                       15
<PAGE>

     Custodian to the Servicer. The Indenture Trustee shall execute such Related
     Documents,  along  with  such  documents  as the  Servicer  or the  related
     Mortgagor  may  request to  evidence  satisfaction  and  discharge  of such
     Mortgage  Loan,  upon request of the Servicer.  If from time to time and as
     appropriate  for the servicing or  foreclosure  of any Mortgage  Loan,  the
     Servicer  requests the Custodian to release  Related  Documents held by the
     Custodian  and  delivers  to  the  Custodian  a  trust  receipt  reasonably
     satisfactory  to the Custodian  and signed by a Responsible  Officer of the
     Servicer,  the  Custodian  shall  release  such  Related  Documents  to the
     Servicer.  If such  Mortgage  Loans shall be  liquidated  and the Custodian
     receives a  certificate  from the Servicer as provided  above,  then,  upon
     request of the Servicer,  the Custodian  shall release the trust receipt to
     the Servicer.

Section 3.07 Realization Upon Defaulted  Mortgage Loans;  Loss Mitigation.  With
respect to any  Mortgage  Loan that comes into and  continues  in  default,  the
Servicer  shall  decide  whether to (i)  foreclose  upon the  related  Mortgaged
Property, (ii) write off the unpaid Principal Balance thereof as bad debt, (iii)
take a deed in lieu of  foreclosure,  (iv)  accept a short sale (a payoff of the
Mortgage  Loan for an amount less than the total  amount  contractually  owed in
order to  facilitate a sale of the  Mortgaged  Property by the  Mortgagor),  (v)
permit a short  refinancing  (a payoff of the  Mortgage  Loan for an amount less
than the total  amount  contractually  owed in order to  facilitate  refinancing
transactions  by the Mortgagor not involving a sale of the Mortgaged  Property),
(vi) arrange for a repayment  plan,  (vii) agree to a modification in accordance
with this Agreement or (viii) take an unsecured note in each case subject to the
rights of any related first Lien holder;  provided,  that in connection with the
foregoing,  if the Servicer has actual knowledge that any Mortgaged  Property is
affected by hazardous or toxic wastes or substances and that the  acquisition of
such Mortgaged Property would not be commercially reasonable,  then the Servicer
shall not cause the Issuer or the  Indenture  Trustee  to acquire  title to such
Mortgaged  Property in a foreclosure or similar  proceeding.  In connection with
such decision, the Servicer shall follow such practices (including,  in the case
of any default on a related  senior  mortgage  loan,  the  advancing of funds to
correct such default if deemed to be appropriate by the Servicer) and procedures
as it shall deem  necessary or advisable and as shall be normal and usual in its
general mortgage  servicing  activities and as shall be required or permitted by
the  Program  Guide;  provided,  that the  Servicer  shall  not be liable in any
respect  hereunder  if the  Servicer  is  acting  in  connection  with  any such
foreclosure or attempted  foreclosure which is not completed or other conversion
in a manner  that is  consistent  with the  provisions  of this  Agreement.  The
foregoing is subject to the proviso  that the Servicer  shall not be required to
expend its own funds in connection with any foreclosure or attempted foreclosure
which is not  completed  or towards the  correction  of any default on a related
senior  mortgage loan or restoration of any property  unless it shall  determine
that such expenditure will increase the related Net Liquidation Proceeds. In the
event of a determination  by the Servicer that any such  expenditure  previously
made pursuant to this Section 3.07 will not be reimbursable from Net Liquidation
Proceeds,  the  Servicer  shall be  entitled  to  reimbursement  of its funds so
expended pursuant to Section 3.03.

                                       16
<PAGE>

        Notwithstanding any provision of this Agreement,  a Mortgage Loan may be
deemed to be finally  liquidated if  substantially  all amounts  expected by the
Servicer to be received in connection  therewith have been  received;  provided,
however, that the Servicer may continue to pursue recovery of such Mortgage Loan
and any subsequent  collections  with respect to any such Mortgage Loan shall be
deposited  into the  Custodial  Account.  If the  Servicer  continues  to pursue
recovery,  the Servicer  shall continue to be entitled to the Servicing Fee with
respect to that Mortgage Loan and to be reimbursed for any advances and expenses
as though such  Mortgage  Loan  continued  to be an  Outstanding  Mortgage  Loan
hereunder.  For  purposes  of  determining  the  amount  of any Net  Liquidation
Proceeds,  Insurance Proceeds or other unscheduled collections, the Servicer may
take into account minimal amounts of additional receipts expected to be received
or any  estimated  additional  liquidation  expenses  expected to be incurred in
connection with such Mortgage Loan.

        In the  event  that  title to any  Mortgaged  Property  is  acquired  in
foreclosure or by deed in lieu of  foreclosure,  the deed or certificate of sale
shall be issued to the Indenture Trustee, which shall hold the same on behalf of
the Issuer in accordance with Section 3.13 of the Indenture. Notwithstanding any
such  acquisition of title and  cancellation of the related  Mortgage Loan, such
Mortgaged  Property  shall (except as otherwise  expressly  provided  herein) be
considered  to be an  outstanding  Mortgage  Loan held as an asset of the Issuer
until such time as such property  shall be sold.  Consistent  with the foregoing
for purposes of all calculations hereunder, so long as the related Mortgage Loan
shall be  considered  to be an  outstanding  Mortgage  Loan, it shall be assumed
that,  notwithstanding  that the indebtedness  evidenced by the related Mortgage
Note shall have been discharged, such Mortgage Note in effect at the time of any
such  acquisition  of title  before  any  adjustment  thereto  by  reason of any
bankruptcy or similar  proceeding or any  moratorium or similar  waiver or grace
period will remain in effect.

        Any proceeds from foreclosure  proceedings or the purchase or repurchase
of any Mortgage  Loan  pursuant to the terms of this  Agreement,  as well as any
recovery  resulting from a collection of Net  Liquidation  Proceeds or Insurance
Proceeds,  shall be  applied  in the  following  order of  priority:  first,  to
reimburse  the  Servicer  or the related  Subservicer  in  accordance  with this
Section  3.07;  second,  to pay the  Servicer  or the  related  Subservicer  all
Servicing Fees payable  therefrom;  third, to pay accrued and unpaid interest on
such  Mortgage  Loan,  at the Net Loan Rate to the  Payment  Date on which  such
amounts are to be deposited in the Note Payment Account or Distribution Account;
and fourth,  as a recovery of principal on such  Mortgage  Loan.  Any  remaining
amount shall constitute Foreclosure Profits.

        In the event that the Trust acquires any Mortgaged Property as aforesaid
or  otherwise  in  connection  with a default or imminent  default on a Mortgage
Loan, the Servicer on behalf the Trust shall dispose of such Mortgaged  Property
as soon  as  practicable,  giving  due  consideration  to the  interests  of the
Noteholders and the Certificateholders, but in all cases within three full years
after the taxable year of its  acquisition  by the Trust for purposes of Section
860G(a)(8)  of the  Code (or  such  shorter  period  as may be  necessary  under
applicable  state (including any state in which such property is located) law to
maintain  the status of each of REMIC I or REMIC II as a REMIC under  applicable
state law and avoid taxes resulting from such property failing to be foreclosure
property under applicable  state law) or, at the expense of the Trust,  request,
more than 60 days  before  the day on which such grace  period  would  otherwise
expire,  an extension of such grace period  unless the Servicer  obtains for the
Indenture Trustee an Opinion of Counsel,  addressed to the Indenture Trustee and
the  Servicer,  to the effect  that the  holding by the Trust of such  Mortgaged
Property subsequent to such period will not result in the imposition of taxes on

                                       17
<PAGE>

"prohibited  transactions"  as defined in Section  860F of the Code or cause the
Trust to fail to qualify as a REMIC (for  federal  (or any  applicable  State or
local) income tax purposes) at any time that any  Certificates  are outstanding,
in which case the Trust may continue to hold such Mortgaged Property (subject to
any  conditions  contained in such Opinion of  Counsel).  The Servicer  shall be
entitled to be reimbursed  from the Custodial  Account for any costs incurred in
obtaining such Opinion of Counsel, as provided in Section 3.03.  Notwithstanding
any other provision of this  Agreement,  no Mortgaged  Property  acquired by the
Trust shall be rented (or allowed to continue to be rented) or otherwise used by
or on behalf of the Trust in such a manner or  pursuant  to any terms that would
(i) cause such Mortgaged  Property to fail to qualify as "foreclosure  property"
within the meaning of Section  860G(a)(8) of the Code or (ii) subject REMIC I or
REMIC II to the imposition of any federal income taxes on the income earned from
such  Mortgaged  Property,  including  any taxes  imposed  by reason of  Section
860G(c)  of the Code,  unless the  Servicer  has  agreed to  indemnify  and hold
harmless the Trust with respect to the imposition of any such taxes.

Section  3.08  Issuer and  Indenture  Trustee to  Cooperate.  On or before  each
Payment Date,  the Servicer will notify the Indenture  Trustee or the Custodian,
with a copy to the Issuer,  of the termination of or the payment in full and the
termination of any Mortgage Loan during the preceding  Collection  Period.  Upon
receipt of payment in full,  the Servicer is authorized to execute,  pursuant to
the  authorization  contained in Section 3.01,  an  instrument  of  satisfaction
regarding  the related  Mortgage,  which  instrument  of  satisfaction  shall be
recorded by the Servicer if required by  applicable  law and be delivered to the
Person  entitled  thereto and to cause the removal from the  registration on the
MERS(R) System of such  Mortgage.  It is understood and agreed that any expenses
incurred in connection with such instrument of satisfaction or transfer shall be
reimbursed from amounts  deposited in the Custodial  Account.  From time to time
and as  appropriate  for the servicing or  foreclosure of any Mortgage Loan, the
Custodian  shall,  upon request of the  Servicer and delivery to the  Custodian,
with a copy to the Issuer, of a Request for Release, in the form attached hereto
as Exhibit C, signed by a Servicing Officer, release or cause to be released the
related  Mortgage  Note to the Servicer.  The Issuer or Indenture  Trustee shall
promptly execute such documents, in the forms provided by the Servicer, as shall
be necessary for the prosecution of any such  proceedings or the taking of other
servicing actions. Such trust receipt shall obligate the Servicer to return such
Mortgage  Note to the  Custodian  (as  specified in such  receipt) when the need
therefor by the Servicer no longer  exists,  unless the  Mortgage  Loan shall be
liquidated,  in which case, upon receipt of a certificate of a Servicing Officer
similar to that  specified  above,  such trust  receipt shall be released to the
Servicer.

        In order to  facilitate  the  foreclosure  of the Mortgage  securing any
Mortgage Loan that is in default following recordation of the related Assignment
of Mortgage in accordance  with the  provisions of the Purchase  Agreement,  the
Indenture  Trustee  or the  Issuer  shall,  if so  requested  in  writing by the
Servicer, promptly execute an appropriate assignment in the form provided by the
Servicer  to assign such  Mortgage  Loan for the  purpose of  collection  to the
Servicer (any such assignment shall  unambiguously  indicate that the assignment
is for the purpose of collection only), and, upon such assignment, such assignee
for  collection  will thereupon  bring all required  actions in its own name and

                                       18
<PAGE>

otherwise  enforce the terms of such Mortgage Loan and deposit or credit the Net
Liquidation  Proceeds,  exclusive of Foreclosure Profits,  received with respect
thereto into the Custodial  Account.  In the event that all delinquent  payments
due  under  any  such  Mortgage  Loan are paid by the  Mortgagor  and any  other
defaults are cured,  then the assignee for collection  shall  promptly  reassign
such Mortgage Loan to the Indenture  Trustee and return all Related Documents to
the place where the related Mortgage File was being maintained.

        In connection  with the Issuer's  obligation to cooperate as provided in
this Section  3.08 and all other  provisions  of this  Agreement  requiring  the
Issuer to  authorize  or permit  any  actions  to be taken  with  respect to the
Mortgage Loans, the Indenture  Trustee,  as pledgee of the Mortgage Loans and as
assignee  of record of the  Mortgage  Loans on behalf of the Issuer  pursuant to
Section 3.13 of the Indenture,  expressly  agrees,  on behalf of the Issuer,  to
take all such actions on behalf of the Issuer and to promptly execute and return
all  instruments  reasonably  required by the Servicer in connection  therewith;
provided, that if the Servicer requests a signature of the Indenture Trustee, on
behalf of the Issuer,  then the Servicer shall deliver to the Indenture  Trustee
an Officer's Certificate stating that such signature is necessary or appropriate
to enable the  Servicer to carry out its  servicing  and  administrative  duties
under this Agreement.

Section 3.09 Servicing  Compensation;  Payment of Certain  Expenses by Servicer.
The Servicer  shall be entitled to receive the Servicing Fee in accordance  with
Section 3.03 as  compensation  for its services in connection with servicing the
Mortgage Loans.  Moreover,  late payment charges and other receipts not required
to be deposited in the  Custodial  Account as specified in Section 3.02 shall be
retained by the  Servicer as  additional  servicing  compensation.  The Servicer
shall be required to pay all  expenses  incurred  by it in  connection  with its
activities  hereunder  (including  payment  of all other fees and  expenses  not
expressly  stated  hereunder  to be for  the  account  of the  Securityholders),
including the fees and expenses of the Owner Trustee,  Indenture Trustee and the
Custodian, and shall not be entitled to reimbursement therefor.

Section 3.10   Annual Statement as to Compliance.

(a)  The  Servicer  shall  deliver to the Issuer,  the  Indenture  Trustee,  the
     Depositor and the Underwriter, with a copy to the Enhancer, beginning March
     31, 2002, and on or before March 31 of each year  thereafter,  an Officer's
     Certificate  stating  that (i) a review of the  activities  of the Servicer
     during  the  preceding  calendar  year  and of its  performance  under  any
     servicing agreements to which it is a party, including this Agreement,  has
     been made under  such  officer's  supervision  and (ii) to the best of such
     officer's knowledge, based on such review, the Servicer has complied in all
     material  respects  with the minimum  servicing  standards set forth in the
     Uniform Single  Attestation  Program for Mortgage Bankers and has fulfilled
     all of its material  obligations in all material  respects  throughout such
     year,  or, if there has been  material  noncompliance  with such  servicing
     standards or a default in the  fulfillment in all material  respects of any
     such obligation relating to this Servicing Agreement,  such statement shall
     include a description of such  noncompliance  or specify each such default,
     as the case  may be,  known  to such  officer  and the  nature  and  status
     thereof.

(b)  The Servicer shall deliver to the Issuer and the Indenture Trustee,  with a
     copy to the Enhancer, promptly after having obtained knowledge thereof, but

                                       19
<PAGE>

     in no event later than five Business  Days  thereafter,  written  notice by
     means of an  Officer's  Certificate  of any event  which with the giving of
     notice or the lapse of time or both, would become a Servicing Default.

Section 3.11 Annual Servicing Report. Beginning March 31, 2002, and on or before
March 31 of each year thereafter, the Servicer at its expense shall cause a firm
of nationally  recognized  independent  public  accountants (which firm may also
render other  services to the  Servicer) to furnish a report to the Issuer,  the
Indenture Trustee, the Depositor, the Underwriter,  the Enhancer and each Rating
Agency  stating its opinion  that, on the basis of an  examination  conducted by
such firm substantially in accordance with standards established by the American
Institute of Certified  Public  Accountants,  the  assertions  made  pursuant to
Section 3.10 regarding compliance with the minimum servicing standards set forth
in the Uniform  Single  Attestation  Program  for  Mortgage  Bankers  during the
preceding calendar year are fairly stated in all material  respects,  subject to
such exceptions and other qualifications that, in the opinion of such firm, such
accounting  standards  require it to report.  In rendering such statement,  such
firm may rely, as to matters  relating to the direct servicing of Mortgage Loans
by  Subservicers,  upon  comparable  statements  for  examinations  conducted by
independent  public  accountants  substantially  in  accordance  with  standards
established by the American Institute of Certified Public Accountants  (rendered
within one year of such statement) with respect to such Subservicers.

Section  3.12 Access to Certain  Documentation  and  Information  Regarding  the
Mortgage Loans.  Whenever required by statute or regulation,  the Servicer shall
provide to the  Enhancer,  any  Securityholder  upon  reasonable  request  (or a
regulator for a Securityholder) or the Indenture  Trustee,  reasonable access to
the  documentation  regarding the Mortgage Loans.  Such access shall be afforded
without  charge,  but only upon  reasonable  request and during normal  business
hours at the  offices  of the  Servicer.  Nothing  in this  Section  3.12  shall
derogate  from the  obligation  of the  Servicer to observe any  applicable  law
prohibiting  disclosure of information regarding Mortgagors,  and the failure of
the  Servicer to provide  access as provided in this Section 3.12 as a result of
such obligation shall not constitute a breach of this Section 3.12.

Section 3.13 Maintenance of Certain Servicing Insurance  Policies.  The Servicer
shall, during the term of its service as servicer,  maintain in force and effect
(i) a policy or policies  of  insurance  covering  errors and  omissions  in the
performance of its obligations as Servicer hereunder and (ii) a fidelity bond in
respect of its officers,  employees or agents.  Each such policy or policies and
fidelity  bond shall be at least equal to the coverage that would be required by
Fannie  Mae or  Freddie  Mac,  whichever  is  greater,  for  Persons  performing
servicing for mortgage loans purchased by such entity.

Section 3.14 Information Required by the Internal Revenue Service and Reports of
Foreclosures and Abandonments of Mortgaged Property.  The Servicer shall prepare
and  deliver  all  federal and state  information  reports  with  respect to the
Mortgage Loans when and as required by all  applicable  state and federal income
tax laws. In particular,  with respect to the requirement under Section 6050J of
the Code to the effect that the  Servicer or  Subservicer  shall make reports of
foreclosures and abandonments of any mortgaged  property for each year beginning
in 2001,  the  Servicer  or  Subservicer  shall file  reports  relating  to each
instance  occurring during the previous  calendar year in which the Servicer (a)
on behalf of the Issuer,  acquired an interest in any Mortgaged Property through

                                       20
<PAGE>

foreclosure or other comparable  conversion in full or partial satisfaction of a
Mortgage Loan, or (b) knew or had reason to know that any Mortgaged Property had
been  abandoned.  The reports from the Servicer or Subservicer  shall be in form
and substance  sufficient to meet the reporting  requirements imposed by Section
6050J and Section 6050H (reports relating to mortgage interest  received) of the
Code.

Section 3.15   Optional Repurchase or Transfer of Mortgage Loans.

               Notwithstanding  any  provision in Section 3.07 to the  contrary,
the  Servicer,  at its option and in its sole  discretion,  may  repurchase  any
Mortgage  Loan  delinquent in payment for a period of ninety (90) days or longer
for a price equal to the  Repurchase  Price,  provided that any such  repurchase
shall occur only  during the 60-day  period  commencing  on the first day of the
next calendar month.

Section 3.16   [Reserved].

Section 3.17 Pre-Funding Account.

(a)  No later than the Closing Date, the Indenture  Trustee shall  establish and
     maintain on behalf of itself one or more segregated  trust accounts,  which
     shall be Eligible Accounts, titled "Pre-Funding Account, Bank One, National
     Association,  as  Indenture  Trustee  for  GMACM  Home  Equity  Loan  Trust
     2001-HE4" (the "Pre-Funding Account").  Notwithstanding  anything herein to
     the contrary,  the Pre-Funding  Account shall not be an asset of REMIC I or
     REMIC II. To the extent that the Pre-Funding  Account constitutes a reserve
     fund for federal  income tax purposes,  (1) it shall be an outside  reserve
     fund and not an asset  of  REMIC I or  REMIC  II,  (2) it shall be owned by
     GMACM, as Seller and (3) amounts  transferred by REMIC I or REMIC II to the
     Pre-Funding Account shall be treated as transferred to GMACM, as Seller, or
     any  successor,  all within  the  meaning  of  Section  1.860G-2(h)  of the
     Treasury  Regulations.  On the Closing  Date,  GMACM shall deposit into the
     Pre-Funding  Account an amount equal to the Original Pre-Funded Amount from
     the proceeds of the sale of the  Securities.  On each  Subsequent  Transfer
     Date,  the  Servicer  shall  instruct the  Indenture  Trustee in writing to
     withdraw  from the  Pre-Funding  Account an amount  equal to the  aggregate
     Principal  Balance  as of  the  related  Subsequent  Cut-Off  Date  of  the
     Subsequent  Mortgage  Loans  to be sold  to the  Trust  on such  Subsequent
     Transfer  Date and  purchased  with  funds on  deposit  in the  Pre-Funding
     Account,  and to pay  such  amount  to or upon  the  order  of  GMACM  upon
     satisfaction of the conditions set forth in this Agreement, in the Purchase
     Agreement and in the related  Subsequent  Transfer  Agreement  with respect
     thereto.

(b)  If the  Pre-Funded  Amount  has not been  reduced  to zero at the  close of
     business on the last day of the Pre-Funding Period,  after giving effect to
     any withdrawal therefrom on such day, any remaining Pre-Funded Amount shall
     be  deposited  in the Note  Payment  Account  and  applied  as a  principal
     distribution on the Notes on the next succeeding Payment Date in accordance
     with the terms of the Indenture.

                                       21
<PAGE>

(c)  The Servicer may cause the institution  maintaining the Pre-Funding Account
     to invest any funds therein in Permitted  Investments  having a maturity of
     up to 90 days or  maturing  or  otherwise  available  not  later  than  the
     Business  Day  preceding  the  related  Payment  Date on  which  funds  are
     scheduled to be withdrawn to purchase Subsequent Mortgage Loans;  provided,
     that any  investment  in an obligation  of the  institution  with which the
     Pre-Funding  Account is maintained  may mature on or before 10:30 a.m., New
     York  time,  on such  Payment  Date;  and  provided  further,  that no such
     investment  may be sold or disposed of prior to maturity.  In addition,  no
     such Permitted  Investment  shall be purchased at a price in excess of par.
     Notwithstanding  the foregoing,  in the event investment  earnings have not
     matured on any Payment Date, the amount of such earnings accrued as of such
     Payment  Date shall be advanced by the  Servicer  for deposit into the Note
     Payment  Account  (which  advance  shall be reimbursed to the Servicer from
     such  investment  earnings  at  maturity).  At any time when the  Indenture
     Trustee is maintaining the Pre-Funding Account, any request by the Servicer
     to invest funds on deposit  therein  shall be in writing,  delivered to the
     Indenture  Trustee  at or  before  10:30  a.m.,  New  York  time,  if  such
     investment  is to be made on such day. The Servicer  shall certify that the
     requested  investment is a Permitted Investment maturing at or prior to the
     time required  hereby.  Any such investment shall be registered in the name
     of the  Indenture  Trustee or its nominee,  and to the extent that any such
     investment is  certificated,  such investment  shall be maintained with the
     Indenture  Trustee at its Corporate  Trust Office.  All net income or other
     gain received from any such investment  shall be deposited into or credited
     to the Note Payment Account,  and may be withdrawn  therefrom in accordance
     with Section 3.05 of the Indenture. In no event shall the Indenture Trustee
     be liable for any  investment  losses on Permitted  Investments  held in or
     credited to the  Pre-Funding  Account,  provided that such  investments are
     made in accordance  with the provisions of this Agreement and the Indenture
     Trustee is not the obligor under the Permitted Investment.

Section 3.18   Capitalized Interest Account.

(a)  No later than the Closing Date, the Indenture  Trustee shall  establish and
     maintain on behalf of itself one or more segregated  trust accounts,  which
     shall be Eligible Accounts, titled "Capitalized Interest Account, Bank One,
     National Association, as Indenture Trustee for GMACM Home Equity Loan Trust
     2001-HE4" (the "Capitalized  Interest Account").  Notwithstanding  anything
     herein to the contrary,  the Capitalized  Interest  Account shall not be an
     asset of REMIC I or REMIC II. To the extent that the  Capitalized  Interest
     Account constitutes a reserve fund for federal income tax purposes,  (1) it
     shall be an outside  reserve  fund and not an asset of REMIC I or REMIC II,
     (2) it shall be owned by GMACM,  as Seller and (3) amounts  transferred  by
     REMIC I or REMIC II to the Capitalized Interest Account shall be treated as
     transferred to GMACM, as Seller,  or any successor,  all within the meaning
     of Section 1.860G-2(h) of the Treasury  Regulations.  The Indenture Trustee
     shall,  promptly upon receipt,  deposit in the Capitalized Interest Account
     and retain therein the Interest Coverage Amount. In addition, the Indenture
     Trustee shall promptly,  upon receipt,  deposit in the Capitalized Interest

                                       22
<PAGE>

     Account,  an additional amount equal to $555,214.74,  which amount is equal
     to one  month's  interest  on the Cut-Off  Date  Principal  Balances of the
     Mortgage  Loans for which the first  monthly  payment is due on November 1,
     2001.  If the  Indenture  Trustee  shall not have  received  an  investment
     direction from GMACM,  the Indenture  Trustee shall invest funds on deposit
     in the Capitalized  Interest  Account in Permitted  Investments of the kind
     described in clause (v) of the definition of Permitted Investments having a
     maturity date no later than the next succeeding  Payment Date. In addition,
     no such  Permitted  Investment  shall be  purchased at a price in excess of
     par. The Servicer  shall be entitled to retain any  investment  earnings on
     amounts on deposit in the  Capitalized  Interest  Account and shall deposit
     into the Capitalized  Interest  Account the amount of any net loss incurred
     in respect of any such Permitted Investment immediately upon realization of
     such loss without any right of reimbursement  therefor.  The Servicer shall
     be the owner of the Capitalized Interest Account and shall report all items
     of income, deduction, gain or loss arising therefrom.

(b)  On each Payment Date during the Pre-Funding  Period and on the Payment Date
     immediately after the end of the Pre-Funding Period, the Indenture Trustee,
     at  the  written  direction  of  the  Servicer,  shall  withdraw  from  the
     Capitalized  Interest  Account and deposit into the Note Payment Account an
     amount equal to the sum of (i) the  Capitalized  Interest  Requirement  for
     such Payment Date and (ii) the Excess Capitalized  Interest Requirement for
     such Payment  Date. In addition,  on the first Payment Date,  the Indenture
     Trustee will transfer  $555,214.74 from the Capitalized Interest Account to
     the Note Payment  Account to be applied in accordance  with Section 3.05 of
     the Indenture.

(c)  In  connection  with  each  Subsequent   Transfer  Date  occurring  in  the
     Pre-Funding  Period,  the  Servicer,  at its option,  may  recalculate  the
     Interest  Coverage  Amount taking into account the amount  remaining in the
     Pre-Funding  Account following the sale of Subsequent Mortgage Loans to the
     Trust on such date. The recomputed  Interest  Coverage  Amount shall be not
     less  than  the  amount   necessary  to  cover  the  Capitalized   Interest
     Requirement for each remaining Payment Date in the Pre-Funding Period. With
     the  written   consent  of  the  Enhancer   (which  consent  shall  not  be
     unreasonably  withheld),  on any such Subsequent Transfer Date, GMACM shall
     instruct  in writing the  Indenture  Trustee to pay to it from funds in the
     Capitalized  Interest  Account the excess of the amount on deposit  therein
     over the recomputed Interest Coverage Amount.

(d)  Upon the earlier of (i)  termination  of the Trust  Agreement in accordance
     with Section 8.01  thereof and (ii) the Payment Date  following  the end of
     the Pre-Funding  Period, any amount remaining on deposit in the Capitalized
     Interest  Account shall be withdrawn by the  Indenture  Trustee and paid to
     GMACM.

                                       23
<PAGE>

Section 3.19  Enforcement of Due-on-Sale  Clauses;  Assumption and  Modification
Agreements; Certain Assignments.

        (a)    When any  Mortgaged  Property is conveyed by the  Mortgagor,  the
               Servicer or  Subservicer,  to the extent it has knowledge of such
               conveyance, shall enforce any due-on-sale clause contained in any
               Mortgage  Note  or  Mortgage,   to  the  extent  permitted  under
               applicable  law and  governmental  regulations,  but  only to the
               extent  that  such  enforcement  will  not  adversely  affect  or
               jeopardize   coverage  under  any  Required   Insurance   Policy.
               Notwithstanding the foregoing:

               (i)    the  Servicer  shall not be deemed to be in default  under
                      this  Section   3.19(a)  by  reason  of  any  transfer  or
                      assumption  which the Servicer is  restricted  by law from
                      preventing; and

               (ii)   if the Servicer  determines  that it is reasonably  likely
                      that any Mortgagor  will bring,  or if any Mortgagor  does
                      bring,  legal action to declare invalid or otherwise avoid
                      enforcement  of a  due-on-sale  clause  contained  in  any
                      Mortgage  Note or  Mortgage,  the  Servicer  shall  not be
                      required to enforce the  due-on-sale  clause or to contest
                      such action.

          (b)  Subject to the Servicer's duty to enforce any due-on-sale  clause
               to the extent set forth in Section 3.19(a),  in any case in which
               a  Mortgaged  Property  is  to  be  conveyed  to  a  Person  by a
               Mortgagor,  and such  Person is to enter  into an  assumption  or
               modification  agreement or  supplement  to the  Mortgage  Note or
               Mortgage which  requires the signature of the Indenture  Trustee,
               or if an instrument of release signed by the Indenture Trustee is
               required  releasing the Mortgagor  from liability on the Mortgage
               Loan, the Servicer is authorized,  subject to the requirements of
               the sentence next following, to execute and deliver, on behalf of
               the Indenture Trustee,  the assumption  agreement with the Person
               to  whom  the  Mortgaged  Property  is to be  conveyed  and  such
               modification  agreement or  supplement  to the  Mortgage  Note or
               Mortgage or other  instruments  as are reasonable or necessary to
               carry out the terms of the Mortgage Note or Mortgage or otherwise
               to comply with any applicable  laws regarding  assumptions or the
               transfer  of the  Mortgaged  Property to such  Person;  provided,
               however,  none of such terms and  requirements  shall  either (i)
               both (A)  constitute a  "significant  modification"  effecting an
               exchange  or  reissuance  of such  Mortgage  Loan under the REMIC
               Provisions  and (B) cause  REMIC I or REMIC II to fail to qualify
               as REMICs under the Code, or (subject to Section  11.01(f) of the
               Indenture),  result in the  imposition of any tax on  "prohibited
               transactions"  or  (ii)  constitute   "contributions"  after  the
               start-up  date under the REMIC  Provisions.  The  Servicer  shall
               execute  and  deliver  such   documents  only  if  it  reasonably
               determines  that (i) its execution and delivery  thereof will not
               conflict with or violate any terms of this Agreement or cause the
               unpaid   balance  and  interest  on  the  Mortgage   Loan  to  be
               uncollectible in whole or in part, (ii) any required  consents of
               insurers under any Required Insurance Policies have been obtained
               and (iii) subsequent to the closing of the transaction  involving
               the  assumption  or  transfer  (A)  such   transaction  will  not
               adversely  affect  the  coverage  under  any  Required  Insurance

                                       24
<PAGE>

               Policies,  (B) the  Mortgage  Loan will fully  amortize  over the
               remaining term thereof, (C) no material term of the Mortgage Loan
               (including  the  interest  rate  on the  Mortgage  Loan)  will be
               altered nor will the term of the Mortgage Loan be changed and (D)
               if the  seller/transferor  of  the  Mortgaged  Property  is to be
               released from liability on the Mortgage  Loan,  such release will
               not  (based  on  the  Servicer's  or  Subservicer's   good  faith
               determination)   adversely  affect  the   collectability  of  the
               Mortgage Loan. Upon receipt of appropriate  instructions from the
               Servicer in accordance with the foregoing,  the Indenture Trustee
               shall execute any necessary  instruments  for such  assumption or
               substitution of liability as directed in writing by the Servicer.
               Upon  the  closing  of  the  transactions  contemplated  by  such
               documents,  the  Servicer  shall cause the  originals or true and
               correct copies of the assumption agreement, the release (if any),
               or the  modification  or  supplement  to  the  Mortgage  Note  or
               Mortgage  to  be  delivered  to  the  Indenture  Trustee  or  the
               Custodian and deposited  with the Mortgage File for such Mortgage
               Loan.   Any  fee  collected  by  the  Servicer  or  such  related
               Subservicer  for entering into an assumption or  substitution  of
               liability  agreement  will be  retained  by the  Servicer or such
               Subservicer as additional servicing compensation.

                                       25
<PAGE>

                                   ARTICLE IV

                              Servicing Certificate

Section 4.01   Statements to Securityholders.

(a)  With  respect to each Payment  Date,  on the  Business  Day  following  the
     related  Determination  Date,  the  Servicer  shall  forward the  Servicing
     Certificate and a computer file containing  mutually agreed upon loan level
     information to the Indenture Trustee,  and the Indenture Trustee,  pursuant
     to Section 3.26 of the  Indenture,  shall make such  Servicing  Certificate
     available to each  Certificateholder,  each Noteholder,  the Enhancer,  the
     Depositor,  the Owner Trustee,  the Certificate  Paying Agent, Bear Stearns
     Capital  Markets Inc. and each Rating  Agency.  The  Servicing  Certificate
     shall set forth the following information as to the Notes and Certificates,
     to the extent applicable:

(i)  the   aggregate   amount  of  (a)  Interest   Collections,   (b)  Principal
     Collections,  and (c) Substitution  Adjustment  Amounts for such Collection
     Period;

(ii) the amount of such  distribution  as principal to the  Noteholders  of each
     Class of Notes;

(iii)the amount of such  distribution  as  interest to the  Noteholders  of each
     Class of Notes,  the amount thereof,  if any,  payable in respect of unpaid
     Interest  Shortfalls,  and the amount of any  Interest  Shortfalls  for the
     related Payment Date;

(iv) the Policy Draw Amount,  if any,  for such  Payment Date and the  aggregate
     amount of prior draws on the Policy thereunder not yet reimbursed;

(v)     the amount of such distribution to the Certificateholders;

(vi) the aggregate  Principal Balance of the Mortgage Loans as of the end of the
     preceding Collection Period;

(vii)the number and  aggregate  Principal  Balances of Mortgage  Loans (a) as to
     which the Monthly Payment is delinquent for 30-59 days, 60-89 days,  90-119
     days,  120-149  days  and  150-179  days,  respectively,  (b)  the  related
     Mortgaged  Property of which has been  foreclosed  upon and (c) as to which
     the related Mortgaged Property has become REO Property,  in each case as of
     the end of the preceding Collection Period;  provided,  however,  that such
     information  shall not be provided on the statements  relating to the first
     Payment Date;

                                       26
<PAGE>

(viii) the  aggregate  Liquidation  Loss  Amounts  with  respect to the  related
     Collection  Period,  the amount  distributed as principal to Noteholders in
     respect of  Liquidation  Loss Amounts and the aggregate of the  Liquidation
     Loss Amounts from all Collection Periods to date expressed as dollar amount
     and as a percentage of the aggregate Cut-Off Date Principal Balances of the
     Mortgage Loans;

(ix) the  aggregate  Note  Balance  of each  Class of Notes and the  Certificate
     Balance of the  Certificates  after giving  effect to the  distribution  of
     principal on such Payment Date;

(x)  the amount on deposit in each of the  Pre-Funding  Account and  Capitalized
     Interest Account as of the end of the preceding Collection Period;

(xi) the  Percentage  Interest  applicable  to  each  of the  Securities,  after
     application of payments made on such Payment Date;

(xii)the Overcollateralization  Amount as of the end of the preceding Collection
     Period;

(xiii) the weighted average of the Net Loan Rates for the Mortgage Loans for the
     related Collection Period;

(xiv)the number and aggregate  Principal  Balance of Mortgage Loans  repurchased
     pursuant to Section 3.15 herein during such Collection Period; and

(xv) the aggregate Principal Balance of Subsequent Mortgage Loans transferred to
     the Trust Estate.

        In the case of information  furnished pursuant to clauses (ii) and (iii)
above, the amounts shall be expressed as an aggregate dollar amount per Note, as
applicable,  with a $25,000 denomination and per Certificate with a denomination
equal  to a 100%  Percentage  Interest.  In the  case of  information  furnished
pursuant to clause  (iii) above for the Class A-IO  Notes,  the amount  shall be
expressed as an aggregate dollar amount with a $1,000,000 denomination.

        If a Servicing  Default  shall occur,  on the Business Day following the
related Determination Date, the Servicer shall forward to the Indenture Trustee,
and the  Indenture  Trustee,  pursuant to Section 3.26 of the  Indenture,  shall
forward  or  cause  to be  forwarded  by mail to  each  Certificateholder,  each
Noteholder,  the Enhancer,  the Depositor,  the Owner Trustee,  the  Certificate
Paying Agent and each Rating Agency,  a statement to such effect,  including the
nature of such Servicing Default. Such statement may be included in, or separate
from, the regular statement sent to Securityholders.

        The Indenture Trustee will make the monthly statement to Securityholders
(and, at its option,  any additional files containing the same information in an
alternative format) available each month to  Securityholders,  and other parties

                                       27
<PAGE>

to this Agreement via the Indenture  Trustee's  internet website.  The Indenture
Trustee's internet website shall initially be located at  "www.abs.bankone.com".
Assistance  in using the  website  can be  obtained  by  calling  the  Indenture
Trustee's customer service desk at 800-524-9472.  Parties that are unable to use
the above distribution  options are entitled to have a paper copy mailed to them
via first class mail by calling the customer  service desk and indicating  such.
The Indenture  Trustee shall have the right to change the way the  statements to
Securityholders  are  distributed  in  order  to  make  such  distribution  more
convenient and/or more accessible to the above parties and the Indenture Trustee
shall provide timely and adequate  notification  to all above parties  regarding
any such changes.

(b)  The Servicer shall forward to the Indenture  Trustee any other  information
     reasonably   requested  by  the   Indenture   Trustee   necessary  to  make
     distributions pursuant to Section 3.05 of the Indenture. Prior to the close
     of business on the Business Day next  succeeding each  Determination  Date,
     the Servicer shall furnish a written  statement to the  Certificate  Paying
     Agent  and the  Indenture  Trustee  setting  forth  the  aggregate  amounts
     required to be withdrawn from the Custodial  Account and deposited into the
     Note  Payment  Account  and/or  Distribution  Account on the  Business  Day
     preceding  the  related   Payment  Date  pursuant  to  Section  3.03.   The
     determination  by the  Servicer of such  amounts  shall,  in the absence of
     obvious  error,  be deemed to be  presumptively  correct  for all  purposes
     hereunder,  and the  Owner  Trustee  and the  Indenture  Trustee  shall  be
     protected  in  relying  upon  the same  without  any  independent  check or
     verification.  In addition, upon the Issuer's written request, the Servicer
     shall promptly furnish such information  reasonably requested by the Issuer
     that is  reasonably  available  to the  Servicer  to enable  the  Issuer to
     perform its federal and state income tax reporting obligations.

Section 4.02   Tax Returns and 1934 Act Reports

(a)            The Servicer will act as the Tax Matters Partner  pursuant to the
               Trust   Agreement   and  the   Indenture  and  will  perform  the
               obligations  of the  Servicer  set forth in  Section  8.02 of the
               Trust  Agreement and the  obligations of the Tax Matters  Partner
               set forth in Article XI of the Indenture.

(b)            The  Servicer  shall  prepare  all reports on behalf of the Trust
               Estate,  including, but not limited to, all Forms 8-K, Forms 10-K
               and,  when  applicable,  a Form 15 that are  required  under  the
               Securities  Exchange Act of 1934, as amended.  The Servicer shall
               continue to file all Forms 8-K and Forms 10-K with respect to the
               Trust  Estate  until  directed  by the  Depositor  in  writing to
               discontinue such filings.

                                       28
<PAGE>

                                   ARTICLE V

                              Note Payment Account

Section 5.01 Note Payment  Account.  The Indenture  Trustee shall  establish and
maintain  an Eligible  Account  entitled  "Bank One,  National  Association,  as
Indenture  Trustee,  for the  benefit of the  Securityholders,  the  Certificate
Paying Agent and the Enhancer,  pursuant to the  Indenture,  dated as of October
25, 2001,  between GMACM Home Equity Loan Trust 2001-HE4 and Bank One,  National
Association"  (the "Note Payment  Account").  On each Payment  Date,  amounts on
deposit  in the Note  Payment  Account  shall be  distributed  by the  Indenture
Trustee in accordance with Section 3.05 of the Indenture.  The Indenture Trustee
shall invest or cause the  institution  maintaining  the Note Payment Account to
invest the funds  therein in  Permitted  Investments  selected in writing by the
Servicer and designated in the name of the Indenture Trustee,  which investments
shall  mature not later than the Business  Day next  preceding  the Payment Date
next  following the date of such  investment  (except that any investment in the
institution with which the Note Payment Account is maintained may mature on such
Payment  Date)  and  shall  not be sold or  disposed  of prior to  maturity.  In
addition,  no such Permitted  Investment shall be purchased at a price in excess
of par. All income and gain realized from any such  investment  shall be for the
benefit of the  Servicer  and shall be subject to its  withdrawal  or order from
time to  time.  The  amount  of any  losses  incurred  in  respect  of any  such
investments  shall be deposited in the Note Payment  Account by the Servicer out
of its own funds immediately as realized.

                                       29
<PAGE>

                                   ARTICLE VI

                                  The Servicer

Section  6.01  Liability  of the  Servicer.  The  Servicer  shall be  liable  in
accordance herewith only to the extent of the obligations  specifically  imposed
upon and undertaken by the Servicer herein.

Section 6.02 Merger or  Consolidation  of, or Assumption of the  Obligations of,
the Servicer. Any corporation into which the Servicer may be merged or converted
or with which it may be  consolidated,  or any  corporation  resulting  from any
merger,  conversion or  consolidation to which the Servicer shall be a party, or
any  corporation  succeeding  to the  business  of the  Servicer,  shall  be the
successor  of the  Servicer  hereunder,  without the  execution or filing of any
paper or any  further  act on the part of any of the  parties  hereto,  anything
herein to the contrary notwithstanding.

        The  Servicer  may  assign  its  rights  and  delegate  its  duties  and
obligations  under this  Agreement;  provided,  that the Person  accepting  such
assignment or delegation  shall be a Person qualified to service mortgage loans,
is  reasonably  satisfactory  to the  Enhancer  (provided,  that such consent to
assignment may not be unreasonably withheld), is willing to service the Mortgage
Loans and executes  and delivers to the Issuer (with a copy to the  Enhancer) an
agreement,  in form and substance reasonably  satisfactory to the Enhancer, that
contains an  assumption by such Person of the due and punctual  performance  and
observance  of each  covenant  and  condition to be performed or observed by the
Servicer under this Agreement;  and provided further,  that no Rating Event will
occur as a result of such assignment and delegation (as evidenced by a letter to
such  effect from each  Rating  Agency),  if  determined  without  regard to the
Policy; and provided further, that the Owner Trustee shall receive an Opinion of
Counsel to the effect  that such  assignment  or  delegation  will not cause the
Issuer  to be  treated  as an  association  (or a  publicly-traded  partnership)
taxable as a corporation for federal income tax purposes.

Section 6.03  Limitation  on  Liability of the Servicer and Others.  Neither the
Servicer  nor any of the  directors  or officers or  employees  or agents of the
Servicer  shall be under any  liability to the Issuer,  the Owner  Trustee,  the
Indenture Trustee or the  Securityholders for any action taken or for refraining
from  the  taking  of any  action  in good  faith  pursuant  to this  Agreement;
provided,  however,  that this  provision  shall not protect the Servicer or any
such Person against any liability  that would  otherwise be imposed by reason of
its willful misfeasance, bad faith or gross negligence in the performance of its
duties  hereunder or by reason of its reckless  disregard of its obligations and
duties hereunder.  The Servicer and any director or officer or employee or agent
of the  Servicer  may rely in good faith on any document of any kind prima facie
properly  executed and submitted by any Person  respecting  any matters  arising
hereunder.  The Servicer  and any  director,  officer,  employee or agent of the
Servicer shall be indemnified by the Issuer and held harmless  against any loss,
liability or expense  incurred in connection  with any legal action  relating to
this Agreement or the Securities, including any amount paid to the Owner Trustee
or the  Indenture  Trustee  pursuant  to Section  6.06(b),  other than any loss,

                                       30
<PAGE>

liability or expense  related to any specific  Mortgage  Loan or Mortgage  Loans
(except as any such loss,  liability or expense shall be otherwise  reimbursable
pursuant  to this  Agreement)  and any loss,  liability  or expense  incurred by
reason  of its  willful  misfeasance,  bad  faith  or  gross  negligence  in the
performance  of its duties  hereunder or by reason of its reckless  disregard of
its  obligations  and  duties  hereunder.  The  Servicer  shall not be under any
obligation  to appear  in,  prosecute  or defend  any legal  action  that is not
incidental to its duties to service the Mortgage  Loans in accordance  with this
Agreement,  and that in its opinion may involve it in any expense or  liability;
provided,  however,  that the Servicer may in its sole discretion  undertake any
such  action  that  it may  deem  necessary  or  desirable  in  respect  of this
Agreement,  the rights and duties of the parties hereto and the interests of the
Securityholders.  In such event, the reasonable legal expenses and costs of such
action  and any  liability  resulting  therefrom  shall be  expenses,  costs and
liabilities  of the Issuer,  and the Servicer shall be entitled to be reimbursed
therefor.  The Servicer's right to indemnity or  reimbursement  pursuant to this
Section  6.03 shall  survive any  resignation  or  termination  of the  Servicer
pursuant to Section 6.04 or 7.01 with respect to any losses,  expenses, costs or
liabilities  arising prior to such  resignation or termination  (or arising from
events that occurred prior to such resignation or termination).

Section 6.04 Servicer Not to Resign.  Subject to the provisions of Section 6.02,
the Servicer shall not resign from the  obligations and duties hereby imposed on
it except (a) upon  determination  that the  performance  of its  obligations or
duties  hereunder  are no  longer  permissible  under  applicable  law or are in
material conflict by reason of applicable law with any other activities  carried
on by it or its subsidiaries or Affiliates, the other activities of the Servicer
so causing such a conflict being of a type and nature carried on by the Servicer
or its  subsidiaries  or  Affiliates  at the date of this  Agreement or (b) upon
satisfaction of the following conditions: (i) the Servicer shall have proposed a
successor  servicer to the Issuer and the Indenture  Trustee in writing and such
proposed  successor  servicer  is  reasonably  acceptable  to  the  Issuer,  the
Indenture Trustee and the Enhancer; (ii) each Rating Agency shall have delivered
a letter to the Issuer,  the Enhancer  and the  Indenture  Trustee  prior to the
appointment of the successor  servicer stating that the proposed  appointment of
such successor  servicer as Servicer hereunder will not cause a Rating Event, if
determined  without  regard to the  Policy;  and (iii) such  proposed  successor
servicer is reasonably  acceptable to the Enhancer,  as evidenced by a letter to
the  Issuer  and  the  Indenture  Trustee;  provided,   however,  that  no  such
resignation by the Servicer shall become effective until such successor servicer
or, in the case of (a) above, the Indenture Trustee,  as pledgee of the Mortgage
Loans,  shall have  assumed  the  Servicer's  responsibilities  and  obligations
hereunder or the Indenture Trustee, as pledgee of the Mortgage Loans, shall have
designated  a successor  servicer in  accordance  with  Section  7.02.  Any such
resignation  shall not relieve the  Servicer  of  responsibility  for any of the
obligations  specified in Sections 7.01 and 7.02 as obligations that survive the
resignation or termination of the Servicer.  Any such  determination  permitting
the  resignation  of the Servicer shall be evidenced by an Opinion of Counsel to
such effect delivered to the Indenture Trustee and the Enhancer.

Section  6.05  Delegation  of Duties.  In the ordinary  course of business,  the
Servicer at any time may  delegate  any of its duties  hereunder  to any Person,
including  any  of its  Affiliates,  that  agrees  to  conduct  such  duties  in
accordance with standards  comparable to those with which the Servicer  complies
pursuant to Section 3.01. Such delegation  shall not relieve the Servicer of its
liabilities  and  responsibilities  with  respect  to such  duties and shall not
constitute a resignation within the meaning of Section 6.04.

                                       31
<PAGE>

Section  6.06  Payment  of  Indenture  Trustee's  and Owner  Trustee's  Fees and
Expenses; Indemnification.

(a)  After the Closing  Date,  the Servicer  covenants  and agrees to pay to the
     Owner  Trustee,  the Indenture  Trustee and any co-trustee of the Indenture
     Trustee or the Owner Trustee from time to time, and the Owner Trustee,  the
     Indenture  Trustee and any such co-trustee shall be entitled to, reasonable
     compensation  (which shall not be limited by any provision of law in regard
     to the  compensation  of a trustee of an express  trust and, in the case of
     the  Indenture  Trustee,  for so long as GMAC Mortgage  Corporation  is the
     Servicer  shall  be as  set  forth  in the  letter  agreement  between  the
     Indenture  Trustee  and the  Servicer  dated as of June 28,  2001)  for all
     services  rendered by each of them in the  execution of the trusts  created
     under  the  Trust  Agreement  and the  Indenture  and in the  exercise  and
     performance  of any of the powers and duties  under the Trust  Agreement or
     the  Indenture,  as the case may be, of the Owner  Trustee,  the  Indenture
     Trustee and any  co-trustee,  and the Servicer  will pay or  reimburse  the
     Indenture  Trustee  and any  co-trustee  upon  request  for all  reasonable
     expenses,  disbursements  and  advances  incurred or made by the  Indenture
     Trustee or any co-trustee in accordance  with any of the provisions of this
     Agreement,  the Indenture or the Trust  Agreement  except any such expense,
     disbursement  or  advance  as  may  arise  from  its  negligence,   willful
     misfeasance  or bad faith.  In addition,  the  Indenture  Trustee  shall be
     entitled  to be  reimbursed  from the  Servicer  for all  reasonable  costs
     associated  with the transfer of servicing  from the  predecessor  servicer
     pursuant to Section 7.02  hereunder,  including,  without  limitation,  any
     reasonable costs or expenses  associated with the complete  transfer of all
     servicing  data and the  completion,  correction  or  manipulation  of such
     servicing  data as may be required by the Indenture  Trustee to correct any
     errors or  insufficiencies in the servicing data or otherwise to enable the
     Indenture Trustee to service the Mortgage Loans properly and effectively.

(b)  The  Servicer  agrees to  indemnify  the  Indenture  Trustee  and the Owner
     Trustee for, and to hold the Indenture  Trustee and the Owner  Trustee,  as
     the case may be, harmless against,  any loss, liability or expense incurred
     without  negligence,  bad faith or  willful  misconduct  on the part of the
     Indenture Trustee or the Owner Trustee, as the case may be, arising out of,
     or in connection with, the acceptance and  administration of the Issuer and
     the assets thereof,  including the costs and expenses (including reasonable
     legal fees and expenses) of defending  the  Indenture  Trustee or the Owner
     Trustee,  as the case may be,  against  any  claim in  connection  with the
     exercise  or  performance  of any of its  powers or duties  under any Basic
     Document; provided that:

     (i)  with  respect  to any  such  claim,  the  Indenture  Trustee  or Owner
          Trustee,  as the case may be,  shall have given the  Servicer  written
          notice thereof promptly after the Indenture  Trustee or Owner Trustee,
          as the case may be, shall have actual knowledge thereof;

     (ii) while  maintaining  control  over its own  defense,  the  Issuer,  the
          Indenture  Trustee  or  Owner  Trustee,  as the  case  may  be,  shall
          cooperate  and  consult  fully with the  Servicer  in  preparing  such
          defense; and

                                       32
<PAGE>

     (iii)notwithstanding  anything  in  this  Agreement  to the  contrary,  the
          Servicer  shall  not be  liable  for  settlement  of any  claim by the
          Indenture  Trustee or the Owner  Trustee,  as the case may be, entered
          into without the prior consent of the Servicer.

No  termination  of this  Agreement or  resignation  or removal of the Indenture
Trustee  shall  affect  the  obligations  created  by this  Section  6.06 of the
Servicer to indemnify  the  Indenture  Trustee and the Owner  Trustee  under the
conditions and to the extent set forth herein.

        Notwithstanding  the  foregoing,  the  indemnification  provided  by the
Servicer in this  Section  6.06(b)  shall not pertain to any loss,  liability or
expense of the Indenture  Trustee or the Owner Trustee,  including the costs and
expenses of defending itself against any claim,  incurred in connection with any
actions taken by the Indenture  Trustee or the Owner Trustee at the direction of
the Noteholders or Certificateholders, as the case may be, pursuant to the terms
of this Agreement.

                                       33
<PAGE>

                                  ARTICLE VII

                                     Default

Section 7.01   Servicing Default.

(a)  If any one of the following  events  (each,  a "Servicing  Default")  shall
     occur and be continuing:

(i)  any failure by the Servicer to deposit in the Custodial  Account,  the Note
     Payment Account or the Distribution Account any deposit required to be made
     under the terms of this Agreement that continues unremedied for a period of
     five Business Days after the date upon which written notice of such failure
     shall  have been  given to the  Servicer  by the  Issuer  or the  Indenture
     Trustee,  or to the Servicer,  the Issuer and the Indenture  Trustee by the
     Enhancer;

(ii) any failure on the part of the  Servicer  duly to observe or perform in any
     material  respect any other  covenants  or  agreements  of the Servicer set
     forth in the Securities or in this Agreement,  which failure, in each case,
     materially and adversely  affects the interests of the  Securityholders  or
     the Enhancer,  and which failure  continues  unremedied  for a period of 45
     days after the date on which written notice of such failure,  requiring the
     same to be remedied,  and stating that such notice is a "Notice of Default"
     hereunder,  shall  have been  given to the  Servicer  by the  Issuer or the
     Indenture Trustee, or to the Servicer, the Issuer and the Indenture Trustee
     by the Enhancer;

(iii)the entry  against  the  Servicer of a decree or order by a court or agency
     or supervisory  authority having  jurisdiction under Title 11 of the United
     States Code or any other applicable federal or state bankruptcy, insolvency
     or other  similar law, or if a receiver,  assignee or trustee in bankruptcy
     or reorganization,  liquidator, sequestrator or similar official shall have
     been appointed for or taken possession of the Servicer or its property, and
     the  continuance  of any such decree or order  unstayed and in effect for a
     period of 60 consecutive days;

(iv) the Servicer shall voluntarily  submit to Proceedings under Title 11 of the
     United  States Code or any other  applicable  federal or state  bankruptcy,
     insolvency  or other similar law relating to the Servicer or of or relating
     to all or substantially all of its property; or the Servicer shall admit in
     writing its inability to pay its debts generally as they become due, file a
     petition to take advantage of any applicable  insolvency or  reorganization
     statute, make an assignment for the benefit of its creditors or voluntarily
     suspend payment of its obligations;

                                       34
<PAGE>

(v)  the Servicer's Tangible Net Worth at any time is less than $100,000,000 and
     GMAC fails to own, directly or indirectly, at least 51% of the common stock
     of the Servicer; and

(vi) the Rolling  Six-Month  Annualized  Liquidation Loss Amount Exceeds 1.5% of
     the Note Balance;

then, and in every such case, so long as a Servicing Default shall not have been
remedied by the Servicer,  either the Issuer,  the  Indenture  Trustee (with the
consent of the Enhancer) or the Enhancer, by notice then given in writing to the
Servicer,  the Issuer and the Indenture Trustee, may terminate all of the rights
and  obligations of the Servicer as servicer under this Agreement other than its
right to receive servicing  compensation and expenses for servicing the Mortgage
Loans hereunder during any period prior to the date of such termination, and the
Issuer,  the  Enhancer  or  the  Indenture  Trustee  (with  the  consent  of the
Enhancer),  may exercise any and all other remedies  available at law or equity.
Any such notice to the Servicer shall also be given to each Rating  Agency,  the
Enhancer and the Issuer. On or after the receipt by the Servicer of such written
notice,  all authority and power of the Servicer under this  Agreement,  whether
with respect to the Securities or the Mortgage Loans or otherwise, shall pass to
and be vested in the  Indenture  Trustee,  as  pledgee  of the  Mortgage  Loans,
pursuant to and under this Section 7.01; and, without limitation,  the Indenture
Trustee is hereby authorized and empowered to execute and deliver,  on behalf of
the Servicer, as attorney-in-fact or otherwise,  any and all documents and other
instruments,  and to do or  accomplish  all other  acts or things  necessary  or
appropriate  to effect the  purposes of such notice of  termination,  whether to
complete  the  transfer  and  endorsement  of each  Mortgage  Loan  and  related
documents,  or otherwise.  The Servicer agrees to cooperate with the Issuer, the
Enhancer and Indenture Trustee, as the case may be, in effecting the termination
of the responsibilities and rights of the Servicer hereunder, including, without
limitation,  the transfer to the Indenture Trustee for the  administration by it
of all cash  amounts  relating to the  Mortgage  Loans that shall at the time be
held by the Servicer and to be deposited by it in the Custodial Account, or that
have been  deposited  by the  Servicer in the  Custodial  Account or  thereafter
received by the Servicer with respect to the Mortgage Loans,  the recordation of
Assignments  of Mortgages to the Indenture  Trustee if MERS is not the mortgagee
of a Mortgage  Loan, and the delivery of Mortgage Files in its possession to the
Indenture Trustee. All reasonable costs and expenses (including, but not limited
to,  attorneys'  fees)  incurred in connection  with amending this  Agreement to
reflect such succession as Servicer  pursuant to this Section 7.01 shall be paid
by the  predecessor  Servicer (or if the  predecessor  Servicer is the Indenture
Trustee, the initial Servicer) upon presentation of reasonable  documentation of
such costs and expenses.

(b)  Notwithstanding   any   termination  of  the  activities  of  the  Servicer
     hereunder,  the  Servicer  shall be entitled  to  receive,  out of any late
     collection  of a  payment  on a  Mortgage  Loan  which was due prior to the
     notice  terminating  the Servicer's  rights and  obligations  hereunder and
     received  after such notice,  that portion to which the Servicer would have
     been  entitled  pursuant to Sections 3.03 and 3.09 as well as its Servicing
     Fee in respect  thereof,  and any other  amounts  payable  to the  Servicer
     hereunder the  entitlement  to which arose prior to the  termination of its
     activities hereunder.

                                       35
<PAGE>

        Notwithstanding  the  foregoing,  a delay in or failure  of  performance
under  paragraph  (a)(i) or (ii)  above,  after  the  applicable  grace  periods
specified  therein,  shall not  constitute a Servicing  Default if such delay or
failure  could not be prevented by the exercise of  reasonable  diligence by the
Servicer  and such  delay or  failure  was caused by an act of God or the public
enemy,  acts of  declared or  undeclared  war,  public  disorder,  rebellion  or
sabotage,  epidemics,  landslides,  lightning,  fire,  hurricanes,  earthquakes,
floods or similar causes.  The preceding sentence shall not relieve the Servicer
from using reasonable efforts to perform its respective  obligations in a timely
manner  in  accordance  with the terms of this  Agreement.  The  Servicer  shall
provide the Indenture Trustee,  the Enhancer and the Securityholders with notice
of any such failure or delay by it,  together with a description  of its efforts
to so  perform  its  obligations.  The  Servicer  shall  immediately  notify the
Indenture  Trustee,  the  Enhancer  and the Issuer in  writing of any  Servicing
Default.

Section 7.02   Indenture Trustee to Act; Appointment of Successor.

(a)  On and  after  the time the  Servicer  receives  a  notice  of  termination
     pursuant to Section 7.01 or sends a notice  pursuant to Section  6.04,  the
     Indenture  Trustee as pledgee of the Mortgage Loans shall itself become, or
     shall appoint an affiliate of the Indenture Trustee to become the successor
     in all  respects  to the  Servicer in its  capacity as servicer  under this
     Agreement and the  transactions  set forth or provided for herein and shall
     immediately  assume all of the obligations of the Servicer to make advances
     on Mortgage  Loans under  Section  3.02(b) and will be subject to all other
     responsibilities,  duties and  liabilities  relating  thereto placed on the
     Servicer by the terms and provisions hereof as soon as practicable,  but in
     no event later than 90 days after the Indenture  Trustee becomes  successor
     servicer.  During  such 90 day  period,  the  Indenture  Trustee,  with the
     consent of the  Enhancer,  may require the  Servicer  being  terminated  to
     continue  to perform  such  servicing  responsibilities  (other than making
     advances on the  Mortgage  Loans under  Section  3.02(b)) as the  Indenture
     Trustee deems  appropriate.  In such event,  the Servicer being  terminated
     shall provide such services as directed by the Indenture  Trustee until the
     earliest  of the date the  Indenture  Trustee  notifies  such  Servicer  to
     discontinue providing such services, the date on which a successor servicer
     or the  Indenture  Trustee  has assumed  all  responsibilities,  duties and
     liabilities  of the  Servicer  hereunder  or the  expiration  of the 90 day
     period.  The Servicer  shall be entitled to the Servicing Fee hereunder for
     any period  during which the Servicer is obligated to provide such services
     as if no  termination  of  the  Servicer  had  occurred.  Nothing  in  this
     Agreement or in the Trust Agreement shall be construed to permit or require
     the Indenture  Trustee to (i) succeed to the  responsibilities,  duties and
     liabilities  of the initial  Servicer in its  capacity as Seller  under the
     Purchase  Agreement,  (ii) be  responsible  or  accountable  for any act or
     omission of the Servicer  prior to the issuance of a notice of  termination
     hereunder, (iii) require or obligate the Indenture Trustee, in its capacity
     as successor Servicer,  to purchase,  repurchase or substitute any Mortgage
     Loan,  (iv) fund any losses on any  Permitted  Investment  directed  by any
     other  Servicer,   or  (v)  be  responsible  for  the  representations  and

                                       36
<PAGE>

     warranties of the Servicer. As compensation therefor, the Indenture Trustee
     shall be  entitled to such  compensation  as the  Servicer  would have been
     entitled  to  hereunder  if no such notice of  termination  had been given.
     Notwithstanding the foregoing, if the Indenture Trustee is (x) unwilling to
     act as  successor  Servicer  itself or to  appoint an  affiliate  to become
     successor Servicer,  or (y) legally unable so to act, the Indenture Trustee
     as pledgee of the Mortgage Loans may (in the situation  described in clause
     (x)) or shall  (in the  situation  described  in  clause  (y))  appoint  or
     petition  a court of  competent  jurisdiction  to appoint  any  established
     housing and home finance institution,  bank or other mortgage loan servicer
     having a net worth of not less than  $10,000,000  as the  successor  to the
     Servicer   hereunder  in  the   assumption  of  all  or  any  part  of  the
     responsibilities,   duties  or  liabilities  of  the  Servicer   hereunder;
     provided,  that any such  successor  Servicer  shall be  acceptable  to the
     Enhancer,  as evidenced by the  Enhancer's  prior  written  consent,  which
     consent shall not be unreasonably  withheld; and provided further, that the
     appointment  of any such  successor  Servicer  will not  result in a Rating
     Event, if determined without regard to the Policy. Pending appointment of a
     successor  to the  Servicer  hereunder,  unless  the  Indenture  Trustee is
     prohibited by law from so acting, the Indenture Trustee itself shall act or
     appoint  an  affiliate  to act in  such  capacity  as  provided  above.  In
     connection with such  appointment  and  assumption,  the successor shall be
     entitled to receive  compensation  out of payments on Mortgage  Loans in an
     amount equal to the  compensation  that the Servicer  would  otherwise have
     received  pursuant  to  Section  3.09 (or such  other  compensation  as the
     Indenture  Trustee and such successor  shall agree).  The  appointment of a
     successor  Servicer  shall not  affect  any  liability  of the  predecessor
     Servicer that may have arisen under this Agreement prior to its termination
     as Servicer  (including the obligation to purchase  Mortgage Loans pursuant
     to Section 3.01, to pay any deductible  under an insurance  policy pursuant
     to Section 3.04 or to indemnify the Indenture  Trustee  pursuant to Section
     6.06), nor shall any successor Servicer be liable for any acts or omissions
     of the  predecessor  Servicer or for any breach by such  Servicer of any of
     its  representations  or  warranties  contained  herein  or in any  related
     document or agreement.  The Indenture Trustee and such successor shall take
     such action, consistent with this Agreement and the requirements (including
     any notice  requirements)  of  applicable  law,  as shall be  necessary  to
     effectuate  any  such  succession.   Notwithstanding  the  foregoing,   the
     Indenture  Trustee,  in its  capacity as successor  Servicer,  shall not be
     responsible  for the lack of  information  and/or  documents that it cannot
     obtain  through  reasonable  efforts or for failing to take any action that
     the Indenture Trustee is legally prohibited from taking by applicable law.

(b)  Any successor, including the Indenture Trustee, to the Servicer as servicer
     shall during its term as Servicer  (i)  continue to service and  administer
     the Mortgage Loans for the benefit of the Securityholders, (ii) maintain in
     force a policy or policies of insurance  covering  errors and  omissions in
     the  performance of its  obligations  as Servicer  hereunder and a fidelity
     bond in respect of its officers, employees and agents to the same extent as
     the Servicer is so required  pursuant to Section 3.13 and (iii) be bound by
     the terms of the Insurance Agreement.

                                       37
<PAGE>

(c)  Any  successor  Servicer,  including the  Indenture  Trustee,  shall not be
     deemed  in  default  or to  have  breached  its  duties  hereunder  if  the
     predecessor  Servicer  shall fail to deliver  any  required  deposit to the
     Custodial  Account  or  otherwise  cooperate  with any  required  servicing
     transfer or succession hereunder.

(d)  In  connection   with  the  termination  or  resignation  of  the  Servicer
     hereunder,  either (i) the  successor  Servicer,  including  the  Indenture
     Trustee if the  Indenture  Trustee is acting as successor  Servicer,  shall
     represent  and  warrant  that it is a member of MERS in good  standing  and
     shall  agree  to  comply  in all  material  respects  with  the  rules  and
     procedures of MERS in connection  with the servicing of the Mortgage  Loans
     that are registered with MERS, in which case the predecessor Servicer shall
     cooperate with the successor Servicer in causing MERS to revise its records
     to reflect the transfer of servicing to the successor Servicer as necessary
     under MERS' rules and regulations,  or (ii) the predecessor  Servicer shall
     cooperate  with the  successor  Servicer  in causing  MERS to  execute  and
     deliver an  assignment  of Mortgage  in  recordable  form to  transfer  the
     Mortgage from MERS to the Indenture Trustee and to execute and deliver such
     other  notices,  documents  and other  instruments  as may be  necessary or
     desirable to effect a transfer of such  Mortgage  Loan or servicing of such
     Mortgage  Loan  on  the  MERS(R)System  to  the  successor  Servicer.   The
     predecessor Servicer shall file or cause to be filed any such assignment in
     the appropriate  recording office. The predecessor  Servicer shall bear any
     and all fees of MERS,  costs of preparing any assignments of Mortgage,  and
     fees and costs of filing any  assignments  of Mortgage that may be required
     under  this  subsection  (d).  The  successor  Servicer  shall  cause  such
     assignment  to be  delivered  to the  Indenture  Trustee  or the  Custodian
     promptly upon receipt of the original with evidence of recording thereon or
     a copy certified by the public  recording  office in which such  assignment
     was recorded.

Section  7.03  Notification  to  Securityholders.  Upon  any  termination  of or
appointment  of a successor  to the  Servicer  pursuant  to this  Article VII or
Section 6.04, the Indenture  Trustee shall give prompt written notice thereof to
the Securityholders, the Enhancer, the Issuer and each Rating Agency.

                                       38
<PAGE>

                                  ARTICLE VIII

                            Miscellaneous Provisions

Section 8.01  Amendment.  This Agreement may be amended from time to time by the
parties  hereto;  provided,  that any such  amendment  shall be accompanied by a
letter from each Rating Agency to the effect that such amendment will not result
in a Rating Event, if determined without regard to the Policy, and a tax opinion
to the effect that  neither  such  amendment  nor any action  permitted  by such
amendment and not otherwise  permitted by this Agreement will cause either REMIC
I or REMIC II to fail to qualify as a REMIC or give rise to the  imposition of a
tax on "prohibited  transactions"  of a REMIC, or prohibited  contributions to a
REMIC,  on either REMIC I or REMIC II; and provided  further,  that the Enhancer
and the Indenture Trustee shall consent thereto.

Section 8.02 GOVERNING LAW. THIS AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH
THE LAWS OF THE STATE OF NEW YORK AND THE  OBLIGATIONS,  RIGHTS AND  REMEDIES OF
THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS.

Section 8.03 Notices. All demands, notices and communications hereunder shall be
in writing and shall be deemed to have been duly given if  personally  delivered
at or mailed by certified mail, return receipt requested,  to (a) in the case of
the Servicer, 100 Witmer Road, Horsham,  Pennsylvania 19044, Attention:  Anthony
Renzi, (b) in the case of the Enhancer,  Financial  Guaranty  Insurance Company,
115 Broadway, New York, New York 10006: Attention:  Research and Risk Management
(GMACM  Home  Equity  Loan Trust  2001-HE4),  (c) in the case of  Moody's,  Home
Mortgage Loan Monitoring Group, 4th Floor, 99 Church Street,  New York, New York
10001, (d) in the case of Standard & Poor's, 55 Water Street, New York, New York
10004,  Attention:  Residential Mortgage  Surveillance Group, (e) in the case of
Fitch, One State Street Plaza, New York, New York 10004, Attention:  Residential
Mortgage Group, (f) in the case of the Owner Trustee,  Wilmington Trust Company,
Rodney Square North, 1100 North Market Street, Wilmington,  Delaware 19890-0001,
(g) in the case of the Issuer,  GMACM Home Equity Loan Trust  2001-HE4,  c/o the
Owner Trustee at the address set forth in clause (f) above,  and (h) in the case
of the  Indenture  Trustee,  at the  Corporate  Trust  Office  of the  Indenture
Trustee,  with a copy to Bank One,  National  Association,  1 Bank Plaza,  Suite
1L1-0126,  Chicago,  Illinois 60670-0126,  Attention:  GMACM 2001-HE4;  or, with
respect to each of the  foregoing  Persons,  at such  other  address as shall be
designated by such Person in a written  notice to the other  foregoing  Persons.
Any notice required or permitted to be mailed to a Securityholder shall be given
by first class mail, postage prepaid,  at the address of such  Securityholder as
shown in the Note  Register  or  Certificate  Register,  as the case may be. Any
notice  so  mailed  within  the  time  prescribed  in this  Agreement  shall  be
conclusively  presumed  to have  been duly  given,  whether  or not the  related
Securityholder receives such notice. Any notice or other document required to be
delivered or mailed by the Indenture Trustee to any Rating Agency shall be given
on  a  reasonable   efforts   basis  and  only  as  a  matter  of  courtesy  and
accommodation,  and the Indenture Trustee shall have no liability for failure to
deliver any such notice or document to any Rating Agency.

                                       39
<PAGE>

Section 8.04  Severability  of Provisions.  If any one or more of the covenants,
agreements,  provisions  or terms  of this  Agreement  shall  be for any  reason
whatsoever held invalid,  then such covenants,  agreements,  provisions or terms
shall be deemed severable from the remaining covenants,  agreements,  provisions
or  terms  of  this  Agreement  and  shall  in no way  affect  the  validity  or
enforceability  of the other  provisions of this  Agreement or the Securities or
the rights of the Securityholders.

Section  8.05  Third-Party  Beneficiaries.  This  Agreement  shall  inure to the
benefit of and be binding  upon the parties  hereto,  the  Securityholders,  the
Enhancer,  the Owner  Trustee  and their  respective  successors  and  permitted
assigns.  Except as otherwise provided in this Agreement,  no other Person shall
have any right or obligation hereunder.

Section  8.06  Counterparts.  This  instrument  may be executed in any number of
counterparts,  each of which so executed shall be deemed to be an original,  but
all such counterparts shall together constitute but one and the same instrument.

Section 8.07 Effect of Headings  and Table of Contents.  The Article and Section
headings herein and the Table of Contents are for convenience only and shall not
affect the construction hereof.

Section 8.08  Termination  Upon Purchase by the Servicer or  Liquidation  of All
Mortgage Loans; Partial Redemption.

(a)  The respective obligations and responsibilities of the Servicer, the Issuer
     and the Indenture  Trustee  created  hereby shall  terminate  upon the last
     action  required to be taken by the Issuer  pursuant to the Trust Agreement
     and by the  Indenture  Trustee  pursuant  to the  Indenture  following  the
     earlier of:

     (i)  the date on or before which the  Indenture  or the Trust  Agreement is
          terminated, or

     (ii) the purchase by the Servicer from the Issuer of all Mortgage Loans and
          REO Property in accordance with Section 8.08(b).

(b)  The  Servicer  shall have the right to purchase  from the Issuer all of the
     Mortgage  Loans and REO Property if the Pool Balance as of any Payment Date
     is less than 10% of the Pool Balance as of the Cut-off Date  (provided that
     a draw on the  Policy  would  not occur as a result  of such  purchase  and
     provided  further that the purchase price will provide  sufficient funds to
     pay the  outstanding  Note  Balance and accrued and unpaid  interest on the
     Notes to the Payment  Date on which such amounts are to be  distributed  to
     Securityholders),  at a  price  equal  to  100%  of  the  aggregate  unpaid
     Principal  Balance of all such remaining  Mortgage Loans,  plus accrued and
     unpaid interest  thereon up to the date preceding the Payment Date on which
     such amounts are to be distributed to the Securityholders (and, in the case
     of REO  Property,  the fair  market  value of the REO  Property),  plus any
     amounts due and owing to the Enhancer  under the Insurance  Agreement  (and
     any  unpaid  Servicing  Fee shall be deemed to have been paid at such time)
     plus any Interest Shortfall and interest owed thereon to the Noteholders.

                                       40
<PAGE>

If such right is  exercised by the  Servicer,  the  Servicer  shall  deposit the
amount  calculated  pursuant to this Section 8.08(b) with the Indenture  Trustee
pursuant to Section 4.10 of the Indenture and, upon the receipt of such deposit,
the Indenture  Trustee or Custodian  shall  release to the  Servicer,  the files
pertaining to the Mortgage Loans being purchased.  The Servicer, at its expense,
shall prepare and deliver to the Indenture  Trustee for  execution,  at the time
the  related  Mortgage  Loans are to be released  to the  Servicer,  appropriate
documents  assigning each such Mortgage Loans from the Indenture  Trustee or the
Issuer to the Servicer or the appropriate party.

        The Servicer  shall send written notice to the Enhancer of its intent to
exercise  its right to  purchase  any of the  Mortgage  Loans  pursuant  to this
Section 8.08(b).

Section 8.09 Certain Matters Affecting the Indenture  Trustee.  For all purposes
of this Agreement, in the performance of any of its duties or in the exercise of
any of its  powers  hereunder,  the  Indenture  Trustee  shall be subject to and
entitled to the benefits of Article VI of the Indenture.

Section  8.10 Owner  Trustee  Not Liable for  Related  Documents.  The  recitals
contained herein shall be taken as the statements of the Servicer, and the Owner
Trustee and the Indenture Trustee assume no  responsibility  for the correctness
thereof.  The Owner Trustee and the Indenture Trustee make no representations as
to the  validity or  sufficiency  of this  Agreement,  of any Basic  Document or
Related Document, or of the Certificates (other than the signatures of the Owner
Trustee and the Indenture  Trustee on the  Certificates) or the Notes. The Owner
Trustee and the Indenture  Trustee shall at no time have any  responsibility  or
liability with respect to the  sufficiency of the Trust Estate or its ability to
generate the payments to be  distributed to  Certificateholders  under the Trust
Agreement or the  Noteholders  under the Indenture,  including the compliance by
the Depositor,  the Sellers or the Servicer with any warranty or  representation
made  under  any  Basic  Document  or the  accuracy  of  any  such  warranty  or
representation,  or any  action  of any  person  taken in the name of the  Owner
Trustee or the Indenture Trustee.

                                       41
<PAGE>

<PAGE>

        IN WITNESS WHEREOF,  the Servicer,  the Issuer and the Indenture Trustee
have caused this Agreement to be duly executed by their  respective  officers or
representatives all as of the day and year first above written.

                           GMAC MORTGAGE CORPORATION,
                              as Servicer

                           By:    /s/ Barry Bier
                                  ----------------------------------------
                                  Name: Barry Bier
                                  Title:  Chief Operating Officer

                           GMACM HOME EQUITY LOAN TRUST 2001-HE4, as
                           Issuer

                           By:    Wilmington Trust Company, not in its
                                  individual capacity but solely as
                                  Owner Trustee

                           By:    /s/ Donald G. MacKelcan
                                  ----------------------------------------
                                  Name: Donald G. MacKelcan
                                  Title: Vice President

                           BANK ONE, NATIONAL ASSOCIATION,
                              as Indenture Trustee

                           By:    /s/ Keith Richardson
                                  ----------------------------------------
                                  Name: Keith Richardson
                                  Title: Vice President

                                       42
<PAGE>

                                    EXHIBIT A

                             MORTGAGE LOAN SCHEDULE

                          [TO BE PROVIDED UPON REQUEST]

<PAGE>

                                    EXHIBIT B

                            LIMITED POWER OF ATTORNEY

                         KNOW ALL MEN BY THESE PREMISES:

        That  Bank  One,  National   Association,   as  indenture  trustee  (the
"Indenture  Trustee"),  under the  indenture  dated as of October  25, 2001 (the
"Indenture"),  between GMACM Home Equity Loan Trust 2001-HE4,  as issuer and the
Indenture Trustee, a national banking  association  organized and existing under
the laws of the  United  States of  America,  and having  its  principal  office
located at 1 Bank One Plaza, Suite IL1-0126,  Chicago, Illinois 60670-0126, hath
made, constituted and appointed, and does by these presents make, constitute and
appoint GMAC Mortgage  Corporation,  a corporation  organized and existing under
the  laws  of  the   Commonwealth   of   Pennsylvania,   its  true  and   lawful
Attorney-in-Fact,  with full power and authority to sign, execute,  acknowledge,
deliver, file for record, and record any instrument on its behalf and to perform
such  other  act or acts as may be  customarily  and  reasonably  necessary  and
appropriate to effectuate the following  enumerated  transactions  in respect of
any of the Mortgages securing a Mortgage Loan and the related Mortgage Notes for
which the undersigned is acting as Indenture Trustee for various Securityholders
(whether the  undersigned  is named therein as mortgagee or  beneficiary  or has
become  mortgagee by virtue of  endorsement of such Mortgage Note secured by any
such  Mortgage)  and for which GMAC Mortgage  Corporation  is acting as Servicer
pursuant to a  Servicing  Agreement  dated as October  25, 2001 (the  "Servicing
Agreement").

This appointment shall apply to the following enumerated transactions only:

1.      The modification or re-recording of a Mortgage,  where said modification
        or re-recording is for the purpose of correcting the Mortgage to conform
        same to the original  intent of the parties  thereto or to correct title
        errors  discovered  after  such  title  insurance  was  issued  and said
        modification or  re-recording,  in either  instance,  does not adversely
        affect the Lien of the Mortgage as insured.

2.      The subordination of the Lien of a Mortgage to an easement in favor of a
        public  utility  company or a  government  agency or unit with powers of
        eminent  domain;  this section shall include,  without  limitation,  the
        execution of partial  satisfactions/releases,  partial  reconveyances or
        the execution of requests to trustees to accomplish same.

3.      With  respect to a Mortgage,  the  foreclosure,  the taking of a deed in
        lieu of  foreclosure,  or the  completion  of judicial  or  non-judicial
        foreclosure  or  termination,  cancellation  or  rescission  of any such
        foreclosure, including, without limitation, any and all of the following
        acts:

          a.   The  substitution  of  trustee(s)  serving  under a Mortgage,  in
               accordance with state law and the Mortgage;

          b.   Statements of breach or non-performance;

          c.   Notices of default;

                                       B-1
<PAGE>

          d.   Cancellations/rescissions of notices of default and/or notices of
               sale;

          e.   The taking of a deed in lieu of foreclosure; and

          f.   Such other  documents  and actions as may be necessary  under the
               terms of the Mortgage or state law to expeditiously complete said
               transactions.

4.   The conveyance of the properties to the mortgage insurer, or the closing of
     the  title  to the  property  to be  acquired  as  real  estate  owned,  or
     conveyance of title to real estate owned.

5.   The completion of loan assumption agreements.

6.   The full  satisfaction/release  of a  Mortgage  or full  reconveyance  upon
     payment and  discharge  of all sums  secured  thereby,  including,  without
     limitation, cancellation of the related Mortgage Note.

7.   The assignment of any Mortgage and the related Mortgage Note, in connection
     with the repurchase of the Mortgage Loan secured and evidenced thereby.

8.   The full  assignment  of a Mortgage  upon payment and discharge of all sums
     secured  thereby in conjunction  with the refinancing  thereof,  including,
     without limitation, the endorsement of the related Mortgage Note.

9.   The modification or re-recording of a Mortgage,  where said modification or
     re-recording  is for the  purpose of any  modification  pursuant to Section
     3.01 of the Servicing Agreement.

10.     The subordination of the Lien of a Mortgage, where said subordination is
        in  connection  with any  modification  pursuant to Section  3.01 of the
        Servicing Agreement, and the execution of partial satisfactions/releases
        in connection with such same Section 3.01.

        The undersigned gives said  Attorney-in-Fact full power and authority to
execute  such  instruments  and to do and  perform  all and  every act and thing
necessary  and  proper to carry into  effect  the power or powers  granted by or
under this Limited Power of Attorney as fully as the undersigned  might or could
do, and hereby does ratify and confirm to all that said  Attorney-in-Fact  shall
lawfully do or cause to be done by authority hereof.

        Capitalized  terms used herein that are not otherwise defined shall have
the meanings ascribed thereto in Appendix A to the Indenture.

                                        B-2

<PAGE>

        Third  parties  without  actual notice may rely upon the exercise of the
power granted under this Limited  Power of Attorney;  and may be satisfied  that
this Limited Power of Attorney  shall  continue in full force and effect has not
been revoked  unless an instrument of revocation has been made in writing by the
undersigned.

                                BANK ONE, NATIONAL ASSOCIATION,
                                    not in its individual capacity
                                    but solely as Indenture Trustee

                                By:
                                       ----------------------------------------
                                       Name:
                                       Title:

                                        B-3
<PAGE>

STATE OF                     )
                             SS.
COUNTY OF                    )

     On this [ ] day of October, 2001, before me the undersigned,  Notary Public
of said State, personally appeared _______________, personally known to me to be
duly authorized  officers of Bank One,  National  Association  that executed the
within  instrument and personally known to me to be the persons who executed the
within instrument on behalf of Bank One, National Association therein named, and
acknowledged  to me such Bank One,  National  Association  executed  the  within
instrument pursuant to its by-laws.

                               WITNESS  my  hand  and   official
seal.

                               Notary Public in and for the
                               State of
                                       --------------------------------

After recording, please mail to:

Attn:
     -------------------------------

                                        B-4

<PAGE>

                                    EXHIBIT C

                           FORM OF REQUEST FOR RELEASE

DATE:

TO:

RE:            REQUEST FOR RELEASE OF DOCUMENTS

In connection  with your  administration  of the Mortgage  Loans, we request the
release of the Mortgage File described below.

Servicing Agreement Dated:
Series #:
Account #:
Pool #:
Loan #:
Borrower Name(s):
Reason for Document Request: (circle one)          Mortgage Loan
Prepaid in Full                                    Mortgage Loan Repurchased

"We hereby  certify  that all amounts  received or to be received in  connection
with such  payments  which are required to be deposited  have been or will be so
deposited as provided in the Servicing Agreement."

GMAC Mortgage Corporation
Authorized Signature

******************************************************************************
TO CUSTODIAN:  Please  acknowledge  this request,  and check off documents being
enclosed with a copy of this form. You should retain this form for your files in
accordance with the terms of the Servicing Agreement.

Enclosed Documents:       [  ]   Mortgage Note

Name
    --------------------------------

Title
     -------------------------------

Date
    ------------------

                                        C-1

<PAGE>

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