GMAC Mortgage announces launch of its Virtual Sales Network

GMAC Mortgage LLC has announced that it has launched a Virtual Sales Network (VSN) to market its suite of mortgage products. This innovative new sales channel is expected to attract more home buyers to GMAC’s mortgage lending services by offering a more flexible alternative to traditional branches. The VSN will consist of a team of seasoned sales managers and loan officers operating on a remote, mobile basis in order to quickly enter markets and adapt to shifting industry conditions, while keeping occupancy costs low. The team will cultivate and leverage existing relationships with realtors within their regions to generate originations. “We are excited to introduce this innovative new platform, which is the first of its kind among larger lenders,” said Steve Abreu, president of GMAC Mortgage Operations. “With the Virtual Sales Network, we are able to better accommodate how customers chose to do business with us. We see the network as a catalyst to diversifying our mortgage lending revenues and introducing more prospective home buyers to GMAC.” GMAC will initially launch the VSN in California, North Carolina, South Carolina, Pennsylvania and Arizona. The company is exploring expansion opportunities in other states across the country with a goal of building the team to 200 associates by the end of 2010. For more information, visit www.gmacfs.com.