Oak Street Picks GMAC as Subservicer

Oak Street Mortgage, Carmel, Ind., has announced the selection of GMAC Mortgage Corp.,Horsham, Pa., to subservice its mortgage loans on a private-label basis.Under the arrangement, GMAC Mortgage will subservice the loans that Oak Street originates for resale to third parties. "GMAC Mortgage's ability to customize their service levels by type of loan and their willingness to do all of this under our brand was the key to our decision," said Dennis Trent, chief operations officer of Oak Street Mortgage. The company said it will use GMAC Mortgage's DSU platform, which allows it to service various mortgage loan products under any brand identity.