Gmac - A Sensible Choice For Your Mortgage

GMAC Mortgage is one of the largest and most stable mortgage companies in America. It's owned by General Motors Acceptance Corporation (a wholly-owned subsidiary of General Motors), and its primary business is financing American homes. Over 2 million people carry a mortgage through GMAC. GMAC is currently the leading commercial banker in the United States, with a significant presence in Canada, Mexico, the UK, the Netherlands, and Japan. GMAC has a presence in a total of 41 countries today and is still growing. General Motors has serviced car insurance since their inception in 1919, when people first realized a need for car insurance. GMAC was born when GM's insurance arm acquired Colonial Mortgage Service Company in 1985, and it's been growing ever since. Today it also owns Ditech.com (remember all those commercials?) and has first mortgage servicing rights with the prestigious Wells Fargo. Online, GMAC allows you to apply for a loan, make payments to your loan, and report any issues directly on their web site. They maintain a great website with tools available to the public including a borrowing calculator (which helps you determine how much money you can afford to borrow), a home equity calculator, and many other tools. In addition to providing mortgage services, GMAC sells term life and homeowners' insurance, auto insurance and roadside assistance services, and specialized financial tools such as mortgage life insurance (so that in the event of your death, your mortgage will be paid off in full for your heirs). GMAC is truly a multipurpose finance company. One of GMAC's primary goals is to continue to be the largest Internet originator of loans. One of the interesting things about GMAC is that you can buy a house, start to finish, without ever leaving GMAC. GMAC also has a branch dealing specifically with real estate. So you can purchase your house from a GMAC real estate broker, take out a GMAC mortgage, purchase GMAC homeowners insurance, and always pay your mortgage through GMAC. GMAC is active in many nonprofit groups, including a strong interest in Habitat for Humanity. They have declared that their business purpose is to turn people into homeowners, so Habitat falls right along their ideals. GMAC is consistently ranked as one of the top mortgage companies in the area of customer service and recognizability. In addition to consumer mortgages, GMAC is well known for its Commercial Finance Group. This arm specializes in such businesses as automotive, aircraft, food service, furniture, metal industries, and clothing. Ditech.com is part of GMAC, and a leader in direct lending. They pride themselves on excellent customer service, great closing rates and easy paperwork, and the fact that they are part of one of the most secure mortgage companies in the country. DiTech's services include first mortgages, fixed and variable equity credit, and no closing cost equity seconds. Because they service primarily online, they staff their customer service lines 24/7, allowing access to customers at any time.

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