A new origination channel announced by GMAC Mortgage LLC will provide local sales without traditional branches. Hundreds of originators and sales managers are being recruited for the new operation.
A press release today from the Residential Capital LLC subsidiary said it has opened a virtual sales network. The origination channel was initially launched in Arizona, California, North Carolina and South Carolina.
In the statement, GMAC Mortgage Operations President Steve Abreu called the unit “the first of its kind among larger lenders.”
The network will be staffed by “seasoned sales managers and loan officers” who will operate remotely on a mobile basis. The move is expected to enable GMAC to quickly move into new markets while keeping occupancy costs low.
A spokesman told MortgageDaily.com that the lender is recruiting employees for the division as it expands into other states. Around 200 hirings are projected by the end of this year.
The statement indicated that the new channel is an alternative to ‘bricks-and-mortar’ branches.
“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 statement said. “The team will cultivate and leverage existing relationships with realtors within their regions to generate originations.”
GMAC Job Openings
