GMAC Hits $100B in Commercial Loans.(Brief Article)(Statistical Data Included)

GMAC Commercial Mortgage (GMACCM), the commercial real estate loan servicing subsidiary of GMAC Commercial Holding Corp. (GMACCH), has seen its servicing portfolio cross the $100 billion mark, exceeding $107 billion.

This is nearly twice the size of its nearest competitors - Kansas City, Mo.-based Midland Loan Services and Atlanta-based Capmark Services - and the first time ever for a commercial loan servicer to cross the $100 billion mark, GMACCM, which services more than 44,900 loans, says.

David E. Creamer, chairman and CEO, GMACCH, remarked, "That number alone is notable, but when you consider that only seven years ago, when GMACCM was formed as a stand-alone unit of the GMAC Mortgage Group, we started with a servicing portfolio of approximately $5 billion, it is truly stunning. Our current balance represents an increase of 21 times our original servicing portfolio or an increase of 2000% in seven years."

GMACCM services loans originated by its national origination network as well as by others.

The loans range in size from $1 million to more than $1 billion, with most of them falling in the $2 million to $3 million range.

Michael I. Lipson, executive vice president, global servicing, GMACCH, said that the growth in the company's loan servicing portfolio was attained through a series of acquisitions of companies and loan servicing portfolios, as well as through GMACCM's retail origination efforts out of its 50 production offices nationwide.

Some notable acquisitions include Republic Mortgage (which doubled the size of GMACCM's servicing portfolio from $5 billion to $10 billion, according to Mr. Lipson), Lexington Mortgage and Mellon Mortgage.