Bruce Hernandez Will Lead One of the Country's Largest Statewide MBA
Organizations
MINNEAPOLIS, Aug. 12 /PRNewswire/ -- GMAC-Residential Funding Corporation
(GMAC-RFC) announced today that Bruce Hernandez, director and assistant
regional manager of GMAC-RFC's warehouse lending business in Denver, has been
elected president of the Colorado Mortgage Lenders Association (CMLA).
(Photo: http://www.newscom.com/cgi-bin/prnh/19990812/MNTH007 )
Hernandez, a former US Bank vice president, joined GMAC-RFC -- one of the
nation's leading warehouse lenders -- in June. He has been a member of the
CMLA since 1987 and has been active on its board for the past six years.
In his new role, Hernandez will focus on two priorities: legislative
regulation of the industry, i.e. licensing and continuing education geared
toward Internet-based originations. Hernandez said he will continue the
organization's leadership in providing timely educational and informational
programs to meet the needs of association members throughout Colorado.
"We are proud of Bruce's election to lead this respected organization,"
said Rick Rice, managing director of warehouse lending at GMAC-RFC. "Constant
industry changes -- including e-commerce and the recent rise in interest rates
-- are impacting mortgage lenders and borrowers. Bruce's knowledge and
industry experience is second to none and I am confident he will successfully
lead this organization into the new millennium."
Hernandez will be installed as president today in Vail, Colo. Guests will
include Don Lange, president of the Mortgage Bankers Association of America
(MBA), and various past presidents of the CMLA.
Hernandez has a bachelor's degree from the University of Denver and is a
graduate of both the MBAA School of Mortgage Banking and MBAA Future Leaders
Program.
About the Association
Founded in 1956, the CMLA has approximately 350 members whose business
interests include the mortgage lending industry and activities. The
association encourages, promotes and maintains high ethical and professional
standards in the field of mortgage and real estate finance. In addition, CMLA
represents members' interests in judicial and legislative arenas, expands and
distributes relevant information through publications and educational
activities, and provides a variety of public services to the citizens of
Colorado.
About GMAC-RFC
GMAC-RFC, a wholly owned subsidiary of GMAC, is committed to providing
capital and investments worldwide through its core businesses in
securitization, lending and investment. The company is the leading non-agency
issuer of mortgage-backed securities and a leader in warehouse lending and
construction lending. Headquartered in Minneapolis, the company has operations
nationwide, in the United Kingdom and Mexico.
SOURCE GMAC-RFC
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Photo Notes:http://www.newscom.com/cgi-bin/prnh/19990812/MNTH007
PR Newswire Photo Desk, 888-776-6555 or 201-369-3467 and AP
Archive
Company News On-Call:
http://www.prnewswire.com/comp/138832.html or fax,
800-758-5804, ext. 138832
CONTACT:
Jodi Ehlers Swanson of GMAC-RFC,
612-832-7343, jehlers@rfc.com, or Nick Ragone of Shandwick
International, 212-591-9842, nragone@shandwick.com, for GMAC-RFC
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