GMAC Unveils Third-Party Master Servicing.

NEW YORK -- GMAC Mortgage, Horsham, Pa., is offering third-party master servicing to the industry.

GMAC said that the new service is being offered through an alliance between GMAC Mortgage's subservicing business and GMAC-RFC master servicing.

Tom Donatacci, a senior vice president at GMAC Mortgage, told MSN that the service will leverage the company's growing business as a primary subservicer of home loans.

"A number of our Wall Street subservicing clients were also frequent users of master servicers in the marketplace, so we will be able to leverage off an existing client base that is comfortable with us," he said.

Over the past couple of years, GMAC has moved up the rankings from being the seventh largest subservicer to become the largest subservicer of home loans. In 2006, GMAC Residential Holding Co. increased its subservicing volume by 58%, ending the year with $61.5 billion of subservicing volume.

"We have obviously been very much focused on expanding our presence in the core subservicing business over the past couple of years. I think we have raised the bar in terms of the services that are being offered in the marketplace."

He noted that GMAC-RFC already acts as a master servicer to support its own whole loan and securitization activities, and the company receives top marks in that category from the rating agencies.