GMAC Residential Funding Launches Redesigned Internet Portal for Mortgage Lenders.Business Editors/High-Tech Writers MINNEAPOLIS--(BUSINESS WIRE)--Oct. 20, 2003 New, Reengineered Site Makes It Easier for The Company's Lender Partners to Access a Suite of E-Business Tools 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 Residential Funding (Residential Funding Corporation) today introduced a completely redesigned Internet portal, www.GMACResidentialFunding.com, that provides its mortgage lender partners faster, more efficient ways to conduct business with the company. The newly designed Internet portal provides the company's lender partners a more convenient and intuitive point of access to a full line of transaction-oriented and informational tools to make the mortgage process easier, faster and more efficient. "Based on extensive client input, we have continued to refine and enhance our solutions to meet the needs of our lender partners," said Dan Bettenburg, executive vice president of e-commerce. "GMACResidentialFunding.com is designed to help our lender partners generate profitability and growth - giving their borrowers better value when they buy, refinance or borrow against their homes." Enhanced technology features at GMACResidentialFunding.com include an enhanced Assetdelivery(SM) tool that uses the latest XML XML in full Extensible Markup Language. Markup language developed to be a simplified and more structural version of SGML. It incorporates features of HTML (e.g., hypertext linking), but is designed to overcome some of HTML's limitations. technology to deliver loans electronically and Client Performance Reporting within the Assetinfo reporting tool to keep clients up to date on their loan performance. Other tools, like Assetwise Direct(SM), Assetfilter(SM) and Assetlock(SM) complete the suite of interconnecting mortgage process tools available to lenders online. Matt Klaess and Scott Brooks
Scott William Brooks (born July 31 1965 in French Camp, California) is a retired American professional basketball player. , co-owners of Stonecreek Funding, said the lender portal gives Stonecreek instant access to the information and tools it needs to run its business. "With other investors communication is at a minimum. The portal enables us to take quick action on items before they become an issue or to take advantage of market timing to increase our profitability. GMAC Residential Funding is a true partner committed to helping us grow our business." Changes to GMACResidentialFunding.com also include common navigation pages, tool landing pages with updates on tool enhancements, tips on more efficient tool use and special announcements. The portal also offers enhanced online help and groups tools by business function, such as "evaluate loan" rather than by tool name. "The most important thing about the new design of GMACResidentialFunding.com is that changes were made based on direct feedback from our users," said Bettenburg. "Ongoing research in the form of focus groups, one-on-one interviews, and extensive usability testing Usability testing is a means for measuring how well people can use some human-made object (such as a web page, a computer interface, a document, or a device) for its intended purpose, i.e. usability testing measures the usability of the object. resulted in enhancements that help our lender partners close loans faster through automation and expand into new products and markets. For example, they can use our tools to make it easier to enter the subprime market if they are a jumbo player, or offer second mortgages if they've only done first mortgages. "As a leading private mortgage conduit for more than 20 years, GMAC Residential Funding is committed to bringing greater value to the mortgage process for our lender partners and their borrowers. We will continue to invest in an expanding portfolio of e-business solutions ranging from web-based e-business tools to highly customized decision engines," Bettenburg said. ABOUT GMAC RESIDENTIAL FUNDING GMAC Residential Funding acquires residential mortgages and home equity loans and lines from mortgage banks and other lenders, securitizes and sells them as fixed income investments, and also provides a consistent source of warehouse financing for mortgage lending partners. GMAC Residential Funding is part of GMAC-RFC, 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 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. . GMAC-RFC is a leading private issuer of mortgage-backed securities Mortgage-backed securities (MSBs) Securities backed by a pool of mortgage loans. (MBS See Mb/sec. MBS - mobile broadband services ) and mortgage-related asset-backed securities (ABS), and the No. 1 warehouse lender 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. . The company leverages its strengths in 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. , lending and investment to offer a broad portfolio of innovative capital solutions to businesses in a variety of markets. The company is headquartered in Minneapolis and operates in the United States, Canada, Mexico, United Kingdom and Continental Europe Continental Europe, also referred to as mainland Europe or simply the Continent, is the continent of Europe, explicitly excluding European islands and, at times, peninsulas. . www.GMACResidentialFunding.com . |
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