GMAC-RFC Seeking German Partners

GMAC-RFC is looking for local German business partners to work in conjunction with its recently established mortgage lending effort in that country, a company executive has told MortgageWire.The acquisition of a regulated German entity has recently allowed GMAC-RFC to bring its standard lending model to that country, said Chris Nordeen, president of the company's international business group. Asked whether GMAC-RFC is interested in other acquisitions in that country, Mr. Nordeen said the company would consider them, but is more interested in partnerships at this time. He said GMAC-RFC's standard lending model, based on the one the company uses in the United States, generally involves originating innovative loan products through multiple channels and utilizing a capital markets exit strategy. The company can be found online at http://www.gmacrfc.com.