HORSHAM, Pa., Sept. 30 /PRNewswire/ -- Since GMAC Commercial Mortgage
(GMACCM) announced its special disaster recovery process for properties
affected by Hurricane Floyd, employee teams have made over 400 telephone calls
to Borrowers and Property Managers in those states affected by the hurricane.
Letters were also mailed to an additional 800 Borrowers and Property Managers
located in the designated areas. Borrowers and Property Managers have reacted
very positively and were impressed with the proactive initiative taken by
GMACCM and appreciate the assistance in reporting and filing damages.
So far, the teams have identified twelve properties sustaining sufficient
damage, which necessitated the forwarding of insurance claim instructions and
forms. GMACCM property inspectors have already visited seven of the twelve
properties to assess the actual damage and help initiate the loss claim
process. Arrangements are being made to have GMACCM personnel or a contractor
visit the remaining sites. In addition, numerous reports have been received
indicating minor damage; for example, missing roof shingles, broken windows
and fallen trees.
The Federal Emergency Management Agency (FEMA) issued a report on
September 22nd listing the counties that sustained the most severe damage from
Hurricane Floyd. The counties were in Pennsylvania, New Jersey, New York,
Delaware, Virginia, North Carolina, South Carolina and Florida. GMACCM's
Hurricane Floyd teams are utilizing the FEMA report to compare the initial
geographic areas identified with current information so efforts can be focused
on properties located in the counties designated by current reports from FEMA.
GMACCM will continue its proactive initiative until all of its affected
Borrowers and Property Managers have been assisted. The company's Client
Relations Group will continue to be available should Borrowers or Property
Managers want to report damages and/or need assistance with the loss claim
process. The Client Relations Department can be reached at 1-888-763-4622.
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.
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.
CONTACT: Scott Rombach of GMAC Commercial Mortgage, 215-328-3383.
SOURCE GMAC Commercial Mortgage
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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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