GMAC Commercial Names Glitz VP-Risk Manager.Business Editors HORSHAM, Pa.--(BUSINESS WIRE)--June 19, 2002 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 Corporation (GMACCM) announced today the appointment of Donald R. Glitz glitz Informal n. Ostentatious showiness; flashiness: "a garish barrage of show-biz glitz" Peter G. Davis. tr.v. as Vice President - Risk Manager in its Loan Administration Unit. "Don brings to this important position 31 years of experience in the insurance industry, both domestically and internationally," said Richard Joe, Senior Vice President, to whom Glitz reports. "In his new position he will be responsible for implementing insurance training programs, ensuring compliance with investor requirements and being the contact person for all 'high profile' properties. In addition, he will deal with such new, but critical, issues as terrorism, mold contamination, professional liability and others - all areas in which GMACCM is taking a voluntary, pro-active, leadership position." Glitz joined GMACCM from Ace International, Philadelphia, where, since 1990, he was employed in the International Division, first as Assistant Vice President and Underwriting Officer and later, Vice President and Underwriting Officer. Prior to that, he held a number of key executive positions with the CIGNA CIGNA CG (Connecticut General Life Insurance Company) INA (Insurance Company of North America) companies, which he joined in 1969. He received a BA in economics in 1969 from Penn State and an MA in liberal arts liberal arts, term originally used to designate the arts or studies suited to freemen. It was applied in the Middle Ages to seven branches of learning, the trivium of grammar, logic, and rhetoric, and the quadrivium of arithmetic, geometry, astronomy, and music. in 1976 from the State University of New York (body) State University of New York - (SUNY) The public university system of New York State, USA, with campuses throughout the state. at Stonybrook. In 1987, he received C.P.C.U. (Chartered Property and Casualty Underwriter) designation from the Insurance Institute. GMAC Commercial Mortgage, a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of GMAC Commercial Holding Corp., is the leading U.S. financial solutions provider serving commercial real estate 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. The diverse lending and servicing specialist and its affiliates have more than 85 offices worldwide. GMACCM has a servicing portfolio exceeding $150 billion and provides a variety of financing products and services including permanent, interim, and construction lending, with specialized lending units focused on healthcare and hospitality as well as e-commerce offerings through Internet commercial mortgage lending. |
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