GMAC Commercial Mortgage Has Acquired Mortgage Analytics

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GMAC Commercial Mortgage Has Acquired Mortgage Analytics
    HORSHAM, Pa., March 2 /PRNewswire/ -- GMAC Commercial Mortgage (GMACCM)
today announced it has acquired Mortgage Analytics, Inc., a privately held
West Hartford, Conn.-based provider of consulting and software-development
services to the commercial mortgage industry.  Mortgage Analytics will operate
as a wholly-owned subsidiary of GMACCM.
    Terms of the transaction were not announced.
    "This acquisition will strongly position GMAC Commercial Mortgage as a key
provider of the quantitative and analytical tools increasingly required in
commercial mortgage banking," said David E. Creamer, GMACCM's President.
    "Mortgage Analytics has developed innovative programs that enable users to
generate and analyze cash flows, yield tables, risk management and
profitability over a range of performance assumptions.  Now, as an important
part of GMACCM, and with our extensive experience and broad databases,
Mortgage Analytics will be able to offer an even broader range of services to
its customers."
    Mortgage Analytics which has eight employees, was founded in 1993 by
Walter Barnes, who will continue to manage the company.
    "This pairing of Mortgage Analytics with the nation's largest commercial
mortgage banking organization will bring heretofore unattainable synergies,"
said Barnes.  He added that one of the first new initiatives pursued by the
combined companies will be the creation of a benchmarking capability for the
purpose of measuring the performance of CMBS and their underlying collateral.
    "This will provide another innovative tool for investors in the
fast-growing commercial mortgage security business," said Barnes.
    Creamer noted that total outstanding debt in commercial real estate and
multifamily properties now totals more than $1 trillion.
    "There is a continuing shift toward institutional holding of commercial
mortgages in securitized form.  Non-government agency CMBS issues boosted
their share of the mortgage market from one percent in 1991, to almost
7 percent in 1995 and more than 8 percent in 1996.  Clearly, this dramatic
shift to CMBS is requiring a higher level of information and sophisticated
technical analysis.  And that is what Mortgage Analytics brings to the table."
    "As CMBS issues grow in size, the ability to understand the underlying
collateral becomes key," said Michael Baron, GMACCM Vice President of Mergers
and Acquisitions.  "Mortgage Analytics provides us and our customers with
those important capabilities."
    GMACCM is America's leading one-stop financial resource in the commercial
mortgage banking industry.  The diverse lending and servicing specialist has
more than 30 offices nationwide, a servicing portfolio of more than
$40 billion, and offers a variety of products and resources including
long-term, interim and construction financing.
    GMACCM is a wholly owned subsidiary of GMAC Financial Services.
    GMAC Commercial Mortgage is the nation's leading one-stop financial
resource in the commercial mortgage banking industry.  The diverse lending and
servicing specialist has more than 30 nationwide offices.  GMACCM has a
servicing portfolio of over $40 billion, and provides a variety of products
and resources including long-term, interim, and construction financing.
    News releases and other information about GMAC Commercial Mortgage and its
products and services are available at http://www.gmaccm.com on the Internet.
SOURCE GMAC Commercial Mortgage Corporation
http://www.gmaccm.com CONTACT:
Scott Rombach of GMAC Commercial Mortgage,
215-328-3383