GMAC Mortgage Announces New Subservicing Leadership.Unprecedented Growth Harnesses Top Talent for Senior Management Positions HORSHAM, Pa. -- 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 Mortgage, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , the nation's second largest subservicer, announced today a realignment re·a·lign tr.v. re·a·ligned, re·a·lign·ing, re·a·ligns 1. To put back into proper order or alignment. 2. To make new groupings of or working arrangements between. of subservicing responsibilities within its Business Development division. As part of the new leadership, Ray Morris has been appointed vice president of sales and marketing, and Ty Miller will serve as vice president, client relationship management (CRM (Customer Relationship Management) An integrated information system that is used to plan, schedule and control the presales and postsales activities in an organization. ). For the past year, Morris served as director of strategic partnerships at GMAC Mortgage, where he was responsible for establishing key subservicing accounts. In his new position, Morris will lead the team that is developing all third-party subservicing relationships. He will also spearhead the company's marketing and sales support efforts for subservicing. In his new role, Miller will lead GMAC Mortgage's CRM team, managing daily interaction with subservicing clients, in turn driving results to guarantee that the company meets and exceeds client expectations. He has been an integral part of GMAC Mortgage for seven years, serving most recently as vice president of sales, and prior to that as site director for default administration. "Together, Ray and Ty have over five decades of experience in the financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. industry," said Tom Donatacci, senior vice president of business development at GMAC Mortgage. "As our subservicing division experiences record growth, we must continue delivering sound solutions and consistently executing to the highest standards. This new structure will better align Ray and Ty's many talents, enabling them to focus on the needs of our clients." GMAC Mortgage had a subservicing portfolio in excess of $54.2 billion at the end of third quarter 2006, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the National Mortgage News Quarterly Data Report. By outsourcing their servicing to GMAC Mortgage, financial institutions realize significant cost savings, enhanced customer service, improved efficiency and greater product diversity, all while mitigating operational risk. About GMAC Mortgage Subservicing GMAC Mortgage, LLC, based in Horsham, Pa., is an indirect 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 ResCap (Residential Capital, LLC). The company is ranked among the nation's top ten residential mortgage servicers and originators, and is the second largest subservicer in the country. Among its core competencies, GMAC Mortgage has established itself as a leader in the development, implementation and administration of customized subservicing programs for financial institutions, government sponsored enterprises, specialty finance companies, insurance companies, utility companies and investment banking firms. The company offers a full range of branding options to support the servicing of multiple products, including first mortgages, home equity loans and lines and unsecured consumer credit, as well as multiple asset grades, including nonprime and nonperforming loans. For more information about GMAC Mortgage Subservicing, contact 1.877.300.GMAC or visit http://www.gmacsolutions.com. GMAC Mortgage is a licensed mortgage lender and an Equal Housing Opportunity Lender. About GMAC ResCap GMAC ResCap (Residential Capital, LLC) is a leading real estate finance company, focused primarily on the residential real estate market in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Canada, Europe and Latin America. Our diversified businesses -- GMAC-RFC, GMAC Mortgage, LLC, ditech.com, GMAC Bank, GMAC Real Estate GMAC Real Estate is a real estate franchise company in the United States, with 1300 locations in North America, and more than 22,000 real estate agents. The company is a division of GMAC Home Services, part of the larger General Motors Acceptance Corporation, which provides , and Homecomings Financial -- cover the spectrum of the U.S. residential finance industry, from origination and servicing of mortgage loans through their 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. in the secondary market. We also provide capital to other originators of mortgage loans, residential real estate developers, resort and timeshare developers and healthcare companies. GMAC ResCap (http://www.rescapholdings.com) is an indirect wholly owned subsidiary of GMAC LLC. |
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