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1100 Virginia Dr.. Fort Washington, PA 19034 PA Tel. 215-734-8899 |
Type: Subsidiary
On the web:
http://www.gmacmortgage.com
Employees:
7,500
GMAC Mortgage is one the nation's largest residential mortgage lenders -- which says a lot in these dark times. Part of parent General Motors' GMAC finance unit and under its Residential Capital wing, the company had originated and serviced loans nationwide under brand names including gmacmortgage.com and ditech.com, but in 2008 the company closed its wholesale mortgage operations, shutting all 200 of its retail storefront branches. It retained its ditech telesales unit, however, and will continue to buy mortgages. Cerberus Capital Management, along with Aozora Bank and Citigroup, owns 51% of GMAC Mortgage.
Key numbers for fiscal year ending December, 2007:
Sales: $649.7M
Officers:
President: Alvaro G. (Al) de Molina
COO ResCap: Tony Renzi
CFO, GMAC Financial Services: Robert Hull
Competitors:
Bank of America
CitiMortgage
Wells Fargo Home Mortgage
