HORSHAM, Pa., Feb. 3 /PRNewswire/ -- GMAC Commercial Mortgage Corporation
(GMACCM) has captured the top spot as the nation's largest commercial mortgage
servicer for the second consecutive year, according to a survey conducted by
the Mortgage Bankers Association of America.
The results of the study, which compares the performance of 152 commercial
mortgage firms nationwide, were announced during the MBA's ninth annual
Commercial Real Estate Finance/Multifamily Housing Conference in San
Francisco. The rankings are based on the dollar volume of permanent
commercial/multifamily mortgages of $100 million or more serviced for
investors, including life insurance companies, banks, thrifts, pension funds
and commercial mortgage-backed securities, for the year ending September 30,
1997.
GMACCM continues to lead the industry with over a $40 billion commercial
servicing portfolio. The nation's largest one-stop financial resource is a
wholly owned subsidiary of the GMAC Mortgage Group. The diverse lending and
servicing specialist committed over $7 billion in financing in 1997.
"To maximize our ability to seize new opportunities and keep an even
tighter rein on servicing costs, as well as reinforce our number one position
in the industry, we will place greater emphasis this year on expanding our
strategic products, business groups and service mix," noted David E. Creamer,
GMACCM president. "Our goal is to grow our commercial mortgage-servicing
portfolio to $60 billion by the end of 1998."
GMAC Commercial Mortgage's servicing portfolio is now eight times larger
than it was in November 1994, when the company began as a separate business
unit with four offices, while still maintaining the highest ratings from the
rating agencies. Headquartered in Horsham, Pa., a suburb of Philadelphia,
GMACCM operates 34 origination offices in key markets nationwide, and employs
more than 900 professionals and support personnel.
Founded in 1914 as the Farm Mortgage Bankers Association, the Washington-
based MBA has approximately 2,700 members involved in real estate finance,
including mortgage bankers, mortgage brokers, commercial banks, credit unions,
savings and loan associations, savings banks and life insurance companies.
The association's Commercial Real Estate Finance/Multifamily Housing
Conference is considered to be the premier annual event for those engaged in
financing commercial real estate and multifamily housing.
News releases and other information about GMACCM, its products and
services are available through the Internet at http://www.gmaccm.com
For GMACCM news 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, vice president, Public
Relations of GMAC Commercial Mortgage, 215-328-3383
CNOC: http://www.prnewswire.com or fax 800-758-5804, ext.
122720
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