Residential Capital's GMAC Mortgage subsidiary has agreed to $230 million in cash compensation for more than 232,000 borrowers who were in the foreclosure process between 2009 and 2010. The accord, approved by a bankruptcy judge on July 26, ends independent, case-by-case reviews of foreclosures at the company. GMAC Mortgage joins other servicers who have reached settlements with the Federal Reserve and Comptroller of the Currency over potentially improper foreclosures rather than move ahead with a independent review process that has proven to be inefficient and costly. The Fed said GMAC's settlement raises the total cash remuneration to more than $3.8 billion going to an estimated 4.4 million borrowers. The servicers also will spend another collective $5.8 billion on loan workouts, forgiven deficiency judgements, and other assistance.