HORSHAM, Pa., March 7 /PRNewswire/ -- GMAC Commercial Mortgage Corporation
(GMACCM) has announced the creation of the Institutional Investor Business
Unit -- a new department to meet the special needs of Life company and
institutional investors.
Michael B. Goorvich, who currently serves as GMACCM's Senior Vice
President, National Investor Relations, has been named to head this new
Chicago-based department, effective immediately. Goorvich will retain his
present responsibilities relating to Life Insurance investor relations, while
assuming overall responsibility for the company's institutional loan servicing
and administration. He will continue to report directly to Hal Purcell,
Executive Vice President, Retail Production.
"Michael's appointment is part of GMACCM's overall strategy of
establishing business units that are specifically designed to meet the needs
of the customers they serve," said Purcell. "This new department will serve
as a one-stop customer-focused source enabling the life companies and pension
funds to focus on one place in our infrastructure to provide them with the
best possible service for both new business relationships and loan
administration."
"We consider our strong institutional investor activity to be an integral
part of our core business," Goorvich said. "This new unit is charged with
leveraging these existing relationships and expanding GMACCM's business
activities with this client group."
Goorvich and his management team bring more than 60 years of life
insurance company experience to their new assignments and are uniquely
qualified to provide first-rate service to clients.
Goorvich, a native of Winnipeg, Canada, joined GMACCM in 1998 after
serving nine years with Baird and Warner, Inc., of Chicago, where he was
Executive Vice President and Managing Director of the Income Property Finance
Division. In addition to running the division, he was responsible for direct
loan production and loan servicing on a nationwide basis, with a focus on
Illinois, Wisconsin and Indiana.
From 1981 to 1988 Goorvich was Vice President of Mortgage Investments for
the Great-West Assurance Company, of Winnipeg, responsible for production and
administration of a geographically diverse mortgage loan portfolio of more
than $1 billion. From 1977 to 1981 he was the Manager of Property Closing
(U.S.) for Great-West.
He received a Bachelor of Arts degree, with honors in economics, from the
University of Manitoba in 1974. From 1974 to 1976 attended the university's
law school. He is a member of the Mortgage Bankers Association of America,
the Illinois Mortgage Bankers Association, the Commercial Network, NAIOP, ULI
and is a former member of the board of directors of the Better Business Bureau
of Chicago and Northeastern Illinois.
GMACCM has a servicing portfolio of over $78 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 a Small Loan division.
News releases and other information about GMAC Commercial Mortgage and its
products and services are available at http://www.gmaccm.com on the Internet.
For GMACCM press releases by fax, call 800-758-5804, ext. 122720.
For more information, contact Scott Rombach of GMAC Commercial Mortgage,
215-328-3383.
SOURCE GMAC Commercial Mortgage Corporation
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Related links:
http://www.gmaccm.com
Company News On-Call:
http://www.prnewswire.com/comp/122720.html or fax,
800-758-5804, ext. 122720
CONTACT:
Scott Rombach of GMAC Commercial Mortgage,
215-328-3383
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