GMAC Lending Activities Cover The Real Estate Industry

2007-03-08 10:33:40

( Financial )



You may be on the market for a mortgage on your home, either as a first-time home buyer or an existing homeowner seeking a home equity loan. It is likely that you will run across the GMAC Mortgage Company in your search for a good mortgage package.

The GMAC mortgage group is one of the biggest providers of residential mortgages and mortgage services in the country. GMAC lending activities involve the origination of first mortgages and second lien mortgages; but more than these, GMAC lending coverage extends into the secondary market with the purchase and trading of mortgage debt paper.

You can easily look for the right mortgage package that suits your needs through the nationwide network of direct lending centers, retail offices and internet sites operated by the GMAC Mortgage Company and its affiliate, Homecomings Mortgage.

GMAC mortgages give you various options on a first mortgage if you are buying a new home. And if you want to refinance an existing mortgage or take out a home equity loan, you can also find a suitable GMAC mort package.

This to you is the most visible aspect of GMAC lending activities. But without you knowing it, GMAC lending actually includes providing liquidity to other mortgage lenders.

If your lender depends on loan repayments to have funds available for further lending, there may not be enough to meet demand for mortgage loans. So your lender looks for a buyer of mortgage debt paper to generate cash for additional lending to other mortgage borrowers.

GMAC lending in the secondary market helps provide the much needed liquidity to the mortgage lenders. These lending activities are conducted through other affiliates of the GMAC Mortgage Company.

Although most consumers like you will perceive only the primary mortgage market, GMAC lending capabilities are actually providing support to other necessary activities in the real estate industry.


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