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.