What Is The GMAC Mortgage Corporation?
What is the GMAC Mortgage Corporation? The GMAC Mortgage Corporation is one of the world’s largest financial services companies and provides a high volume of mortgages to businesses and to individual homeowners. GMAC Mortgage Corporation is a mortgage company owned by GMAC LLC. It has its headquarters in Fort Washington, Pennsylvania, and has additional offices in Waterloo, Iowa.
GMAC Mortgage Corporation began in 1985, after the company acquired Colonial Mortgage Service and part of Norwest Mortgage, Inc. The company provides several mortgage services, including customer care, investor operations and risk assessment. To better establish an online presence, the company acquired Ditech Funding Corp. in 1999.
In 2009, GMAC bank underwent a re-branding and is now known as Ally Bank. The name GMAC Inc. was changed to Ally Bank. GMAC Mortgage Corporation has retained its name, despite the re-branding of other arms of the company. The residential mortgage branch of GMAC Mortgage Corporation, Ditech, extends home mortgages, home equity loans and FHA loans. Capmark Financial Group is another arm of GMAC Mortgage Corporation.
The company runs a subservicing arm, which offers subservicing to businesses. This allows them to decrease their costs and focus their business on other areas. Loan seekers can find the company’s loan rates and financial products through it’s website. The site is linked below, and users can access an existing mortgage through the website. The site also provides a number of mortgage loan calculators and other resources to help consumers decide how much to borrow and how long their loan period should be.