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GMAC
GMAC was a wholly owned subsidiary of General Motors and was
established in 1919. it currently operates in over 40
countries worldwide and 51% of its controlling shares were
sold to a group of investors in December 2006 known as
Cerberus Capital Management L.P. GMAC Financial is a
worldwide organization and has very diversified fields of
operations they deal in automotive loans, real estate
financing, life insurance and other commercial businesses.
On December 31, 2006 they had $287 billion in assets and had
earned a net income of $ 2.1 billion in the year 2006.
GMAC Mortgage Company is an indirect wholly owned subsidiary
of GMAC Financial. It has its headquarters in Horsham,
Philadelphia. Its primary mortgage business is first and
second mortgage loans and has a network of offices
throughout USA and also has lending centers. It has a GM
Family First home ownership mortgage program for GM
employees, dealers and retired GM employees. GMAC Mortgage
also operates two Internet sites gmacmortgage.com and
ditech.com.
GMAC Mortgage has over 2 million customers throughout USA
and is ranked as one of the leading mortgage companies in
USA. They offer; purchasing, refinance and home equity
services. In purchasing GMAC Mortgage offers first home
loan, second home loan, investment home loan and home
construction loans. In refinancing they offer home equity
loans and refinancing of Adjustable Rate Mortgages (ARM). In
home equity services they offer Home Equity Line of Credit (HELOC)
and debt consolidation services.
GMAC Mortgage and Ditech cover the entire spectrum of
residential mortgaging services and one can apply online for
a mortgage. One does not have to leave their place of work
or home and can deal with GMAC Mortgage Company and its
sister concern Ditech directly from the Internet. One has to
just visit their web sites look at the mortgage plans that
they offer and study them and then if one feels comfortable
they can start the mortgage loan processing process by
applying online. All documents and the entire mortgage loan
process including signing of documents can be done online.
Their loan officers are available 24 hours a day 7 days a
week. GMAC Mortgage Company really strives to make the
mortgage process as easy as possible for its customers and
for people who want to take mortgages from them. Also they
guarantee 100% confidentiality of all loan applications.
They are a very dynamic and customer services conscious
organization.
They promise very fast service and one can get a GMAN home
mortgage within a week from them. The GMAC mortgage loan
payment calculator is available on their web site and one
can look at the mortgage plans that they offer and do the
installment calculations online. This is a facility which
allows one to know exactly what they will have to pay as
installments under the different plans that one may decide
to take. Offering all the rates and plans on their web site
makes it very easy for people who are looking for a mortgage
to study and evaluate their offers with the offers of other
mortgage lenders without having to pay visits to mortgage
lenders offices and have mortgage companies calling up and
harassing the ‘to be’ customers. So one can only get in
touch with them once one has decided to investigate their
mortgage plans further.
GMAC Bank is also a subsidiary of GMAC Financial and is
actively engaged in providing banking services for both
consumer and commercial customers. To boost the sales of
General Motors GMAC car loans are offered to potential
General Motors customers on the entire line of cars
manufactured by General Motors.
GMAC Financial has a wide range of services that they
provide and getting a GMAC vehicle loan or a GMAC car loan
or a GMAC home mortgage loan one knows that they are in the
hands of one of the oldest established business houses of
USA and General Motors needs no introduction.
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