GMAC Mortgage Revamps Default Ops

GMAC Mortgage Corp., Horsham, Pa., has announced a restructuring of its default management operations department into two units, one focusing on collections and loss litigation and the other on foreclosure/bankruptcy and real estate owned.Mitch Oringer has been promoted to vice president and will assume responsibility for collections and loss mitigation, the company said. Lionel Antunes, vice president of default operations, will continue to manage the foreclosure and bankruptcy operations. Bill Maguire, GMAC Mortgage's senior vice president of risk management for national loan administration, said the restructuring "will allow us to better manage and control our risk, at the same time that it strengthens our ability to serve investors and clients across our products and customer brands."