HORSHAM, Pa., Sept. 15 /PRNewswire/ -- GMAC Commercial Mortgage (GMACCM)
announced today that it has launched a proactive disaster recovery process to
monitor the possible effects from Hurricane Floyd.
GMACCM, the nation's leading commercial mortgage banker, has identified a
listing of more than 2600 properties they service in the potentially affected
states of Florida, Georgia, North Carolina, South Carolina and Virginia.
GMACCM's Client Relations Group is available to answer questions from rating
agencies and investors.
Based on criteria, such as property type and the affected areas, GMACCM
has created employee teams that will immediately begin calling the borrowers
and property managers after the storm to assess possible damage, and if
necessary, visit the property sites. Once the Federal Emergency Management
Agency announces the affected counties, GMACCM will be prepared to act
immediately. The on-site inspections will use both GMACCM personnel and
contractors.
GMACCM's Insurance Department has already contacted major insurance
carriers and agents to work on plans to possibly help coordinate and expedite
insurance loss claims from the hurricane. All loans in the affected areas
will receive, at minimum, a letter requesting an update on any damages
incurred.
For updates about how GMACCM is handling the disaster recovery process,
visit our Web site at http://www.gmaccm.com.
GMAC Commercial Mortgage, based in Horsham, PA is a wholly owned
subsidiary of GMAC. It is the nation's leading one-stop financial resource in
the commercial mortgage banking industry. The diverse lending and servicing
specialist has more than 50 offices nationwide. GMACCM has a servicing
portfolio of over $72 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.
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.
CONTACT: Scott Rombach of GMAC Commercial Mortgage, 215-328-3383.
SOURCE GMAC Commercial Mortgage
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Related links:
http://www.gmaccm.com
CONTACT:
Scott Rombach of GMAC Commercial Mortgage,
215-328-3383
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