GM completed the sale of a majority equity stake in GMAC
to an investment consortium led by Cerberus FIM Investors, LLC and including wholly owned subsidiaries of Citigroup, Inc.
Clout, 45, has been appointed GMAC
executive vice president of the company's international operations.
Receiving this Fitch rating validates our leading position in the subservicing marketplace," said Tom Donatacci, senior vice president of business development at GMAC
The company's New York City office will immediately begin doing business as GMAC
Real Estate International Properties Group (IPG).
She joined GMAC
in 1977 in Dayton, Ohio, and advanced through several positions in the treasurer's staff.
In his new role, Goldman will oversee the near-term growth of Pacific Union GMAC
Real Estate and manage the overall longer-term growth strategy for GMAC
Real Estate's Company-Owned operations in the Western United States.
Despite significant challenges during the year, the entire GMAC
organization accomplished a great deal.
In his role he will oversee the near-term growth of Koenig & Strey GMAC
and manage the overall longer-term growth for GMAC
Company-Owned operations in the Central United States.
has a long and proud tradition of excellence, leadership and innovation in the financial services industry," said GMAC
Chairman Robert T.
The initiative will involve the integration of its primary, subservicing and master servicing operations which includes the servicing operations of GMAC
Mortgage, Homecomings Financial and GMAC
-RFC master servicing.
Led by this management team, we are confident that GMAC
Mortgage is entering a new era of growth.
On November 30, 2006, Fitch upgraded ResCap's IDR to 'BBB' from 'BBB-' and its parent GMAC
) IDR to 'BB+' from 'BB' (Rating Outlook Positive) following the closing of the sale of a controlling interest in GMAC
to a consortium led by Cerberus FIM Investors, LLC.