ResCap subsidiary GMAC Mortgage launches virtual sales network

GMAC Mortgage said it plans to launch a virtual sales network to market its mortgage products. The company, a subsidiary of Fort Washington-based GMAC Residential Capital, said it expects to attract more home buyers to its mortgage lending services by offering a more flexible alternative to traditional branches. The network will consist of a team of sales managers and loan officers operating on a remote basis in order to quickly enter markets while keeping occupancy costs low. GMAC said it will initially launch the network in California, North Carolina, South Carolina, Pennsylvania and Arizona. The company is exploring expansion opportunities in other states across the country with a goal of building the team to 200 associates by the end of 2010.

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