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CSFB Looking At GMAC-CM?(Brief Article)

Mortgage Servicing News

| August 01, 2003 | Muolo, Paul | COPYRIGHT 2003 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Investment banker Credit Suisse First Boston is conducting due diligence on GMAC Commercial Mortgage here, the nation's largest commercial loan servicer, sources told Mortgage Servicing News.

According to one commercial official, "CSFB is on its second or third round of due diligence."

CSFB, GE Capital and Deutsche Bank have been mentioned as finalists for the $160 billion commercial mortgage servicer.

A spokesman for CSFB declined to comment on the matter, as did a public relations official for General Motors, the parent of GMACCM.

Besides these three firms, other lookers have included Dutch conglomerate ING, Lehman Brothers and Metropolitan Life, sources said. Early on, Washington Mutual, Seattle, took a look at the company, but passed.

One commercial lender noted that Lehman, at one point, had contemplated buying GMACCM with ...

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