03 September 2008

GMAC Mortgage is Closing its Retail Offices

GMAC said today that they will close all of its mortgage retail offices.  This is a little bit of a shock to me, but I dont necessarily think it should be.  The local GMAC Mortgage office in Missoula has been cutting back it's mortgage brokers for quite some time now.  This appears to me to be some kind of reorganization by GMAC Financial Services.  This does not mean that your GMAC Mortgage is going away.  Instead of going to the GMAC Mortgage office you will go to another Mortgage broker and GMAC will still be able to be an underwriter fro your loan.  More information about GMAC Mortgage can be found in this Associated Press Article.

How does this affect me (and more importantly my clients) and agent with GMAC Real Estate?  The short answer is that it does not.  GMAC Real Estate is a different branch then GMAC Mortgage.  In addition my company Greater Montana GMAC Real Estate is as franchise.  This further distances us from the reorganization of GMAC Mortgage.  And as an agent I will take care of my clients no matter what a corporate company does.  This loyalty to my clients is why I am with Greater Montana GMAC Real Estate.  The tools that GMAC offers its franchises are very valuable in today's marketplace; I have not found a company that can beat this.  In addition to the corporate tools that GMAC offers the local support, innovative thinking, and commitment to customer service and client satisfaction that I have experienced since I joined Greater Montana GMAC Real Estate is unprecedented in today's market. 

That was the long answer, I am sure there is the really, really long answer out there somewhere if you are really interested.  As for me it is business as usual.... almost. 

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Comments

# Casey R said:

GMAC Mortgage Company was a good company - but kept trying the same thing over and over with the retail side and expecting different results.  I have watched them for years and it was the same thing each time they closed the doors and reopened.  Each time they opened a new retail they would hire way too many people and not monitor the spending on the branches and they would be chiefs and not enough indians to make the project work.  Also, they would hire people without making sure their retail experience was what it should have been....  Always, ask for the 1099's - W2's when hiring sales who worked on commission.   I am sadden that this great giant could not get it together.....

11 September 08 at 12:18 PM
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18 December 08 at 10:13 PM
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22 January 09 at 7:20 AM
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