American Mortgage Network, San Diego, has received a $100 million warehouse line of credit from GMAC Residential Funding Corp., Minneapolis.The new line brings AmNet's total warehouse capability to $1.4 billion. John M. Robbins, chief executive of AmNet, said the deal "enhances our ability to broaden our product menu and offer our brokers new alternatives for their customers. The new purchase environment encompasses a wide range of borrowers, many of whom want alternatives to the traditional 30- and 15-year fixed-rate product." Other warehouse providers for AmNet include Countrywide Warehouse Lending, UBS Warburg Real Estate Securities Inc., and JPMorgan Chase Bank. AmNet can be found online at http://www.amnetmortgage.com.
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