GMAC Mortgage Wins New Subservicing Clients

GMAC Mortgage has signed two new subservicing clients, Redwood Trust and MortgageIT.Tony Renzi, GMAC Mortgage's executive vice president and head of national loan administration, said the arrangements with the new clients are unique. "Not only do we offer services for a variety of mortgage loan products and asset classes, we also can customize our servicing options to meet a client's specific business objectives," Mr. Renzi said. Redwood Trust, based in Mill Valley, Calif., is a real estate investment trust that participates mainly in jumbo single-family residential loans, commercial mortgage loans, and mortgage-backed securities. GMAC will service the company's jumbo adjustable-rate mortgage loans. For the New York-based MortgageIT, GMAC will service new subprime offerings.