GMAC Mortgage Review

It took GMAC 5 months to reject my refinance request.  I question whether there may be something fishy going on as they also own the original loan.  During the 5 months, they constantly requested new updated materials as the old ones expired due to their slow response.  I've resubmitted everything from paystubs to homeowners association minutes due to this.  Evidently, GMAC is concerned about where dogs are pooping around my condo.

In the past 3 years, I've payed off 100,000 dollars of debt between student loans and mortgage.  My credit score is 770.  My property is appraised at 152000 and I owe 108000 on it.  Yet I was still rejected for being a credit risk even though they were the original financers of the loan.