BILLERICA, Mass., April 15 /PRNewswire/ -- McCracken Financial Software, a
privately owned provider of software for the mortgage service industry
announced today it has agreed to join the GMAC family of companies, as part of
GMAC Commercial Mortgage. Terms were not disclosed.
Founded in 1991 by Frank McCracken, McCracken Financial Software is the
nation's leading mortgage servicing software developer. Its current product
line includes "STRATEGY," the market-leading commercial and multifamily loan
servicing system; "Investor Vision," a graphical decision support tool that
enables internal and external investors to view "STRATEGY" portfolio and
commercial mortgage backed securities servicing data; and "Pipelyne," a
pipeline and underwriting management system for the commercial real estate and
multifamily housing sector.
"As we strategically reviewed our growth options for the future, it became
clear that aligning ourselves with GMAC Commercial Mortgage Corporation
(`GMACCM') would allow us to bring our products to market more quickly as well
as allow us the flexibility to broaden our product line in response to our
customers' emerging business requirements," said McCracken.
GMAC Commercial Mortgage President David E. Creamer echoed those
sentiments and committed financial and resource support in continuing
McCracken's mission to provide market leading products and services to its
clients.
"Although McCracken Financial Software will become a member of the GMACCM
family, it will be operated as a separate and distinct subsidiary. We are
very pleased that Frank McCracken has agreed to remain as president of the new
subsidiary and that Noel Webster and the entire McCracken employee team will
remain in place. This will assure present and future customers that
McCracken's well known reputation for quality, integrity and the
confidentiality of their customers' proprietary information will continue,"
Creamer said.
Press 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.
SOURCE GMAC Commercial Mortgage Corporation
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Related links:
http://www.gmaccm.com
CONTACT:
Scott Rombach of GMACCM, 215-328-3383, or
Noel Webster of McCracken Financial Software, 978-439-9000
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