GMAC Commercial Mortgage Acquires Keystone Mortgage Partners; Expands Southwest Presence.Business Editors HORSHAM, Pa.--(BUSINESS WIRE)--Feb. 2, 2001 GMAC GMAC General Motors Acceptance Corporation GMAC Graduate Management Admission Council GMAC Give Me A Call GMAC Genetic Manipulation Advisory Committee GMAC Genetic Modification Advisory Committee (Singapore) GMAC Give Me A Chance Commercial Mortgage (GMACCM) has acquired Keystone Mortgage Partners LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , a Phoenix-based originator and servicer of commercial mortgages specializing in life insurance company-originated mortgages. This transaction unites the nation's leading commercial mortgage banker Mortgage Banker A company, individual or institution that originates, sells and services mortgage loans. Notes: Don't confuse a mortgage banker with a mortgage broker. with one of the foremost names in life company origniations. Keystone Mortgage Partners originates more than $1billion in commercial mortgages annually and has a servicing portfolio of over $2 billion. Terms of the transaction were not disclosed. Keystone Mortgage operates five production offices in Dallas and Austin, Texas, Phoenix and Tucson, Arizona Tucson (pronounced /ˈtusɑn/, Spanish: Tucsón [tuk'son] and, Las Vegas Las Vegas (läs vā`gəs), city (1990 pop. 258,295), seat of Clark co., S Nev.; inc. 1911. It is the largest city in Nevada and the center of one of the fastest-growing urban areas in the United States. , Nevada. The company has a servicing center in Dallas, and employs 19 loan production officers. Keystone has key correspondent relationships with over twenty-five life insurance companies in addition to pension funds and other institutional investors. "The acquisition of Keystone brings us one step closer to our goal of being the best, not just the biggest, full service financial advisor in the commercial real estate industry. The professionals at Keystone enjoy an impressive array of life company relationships that reinforce our commitment to that core segment of the mortgage banking business. We want our customers and prospects- and even our competitors- to understand that all of our products and services are built upon the same foundation of excellence and I believe this acquisition underscores that commitment," said Harold Purcell Executive Vice President of Retail Production for GMAC Commercial Mortgage. William Ross William Ross may refer to:
GMAC Commercial Mortgage is the leading U.S. financial solutions provider servicing commercial restate borrowers and investors seeking relationship-based advice and consultation. GMACCM is an industry leader in loan origination, servicing, asset management and securitization Securitization The process of creating a financial instrument by combining other financial assets and then marketing them to investors. Notes: Mortgage backed securities are a perfect example of securitization. May also be spelled as "securitisation. of commercial mortgages. Press releases and other information about GMAC Commercial Mortgage and its products and services are available at http://www.gmaccm.com on the Internet. |
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