WaMu Eyeing GMACCM?

Washington Mutual, Seattle, is being mentioned as a leading candidate to buy the commercial mortgage operations of GMAC Commercial Mortgage Corp., sources have told MortgageWire. A spokesman for WaMu -- the No. 1 residential servicer in the United States -- declined to comment. "We have a policy of not discussing rumors," the spokesman said. Investment bankers say European banks as well as large U.S. banks will take a look at the offering book prepared by Morgan Stanley. One mortgage executive said WaMu is interested in GMACCM in part because of its presence in the multifamily sector. "It makes sense for WaMu, but there are several bidders," said the executive, who requested anonymity. (See the March 10 issue of National Mortgage News for more details.)