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APCI FCU, GMAC Mortgage reach first mortgage products, services agreement

TREXLERTOWN, Pa. - APCI FCU and GMAC Mortgage Corp have reached an agreement to offer GMAC Mortgage residential first mortgage products and services to APCI members. Under the terms of the alliance, APCI will originate first mortgage loans for members and submit completed applications to GMAC Mortgage locally for loan...

By Staff Writer | Updated on September 18, 2001

TREXLERTOWN, Pa. – APCI FCU and GMAC Mortgage Corp have reached an agreement to offer GMAC Mortgage residential first mortgage products and services to APCI members. Under the terms of the alliance, APCI will originate first mortgage loans for members and submit completed applications to GMAC Mortgage locally for loan processing and funding. APCI will have access to GMAC Mortgage’s entire menu of first mortgage products to offer to its more than 15,000 members. In addition to offering its full product line to APCI members, GMAC Mortgage has also agreed to not sell other products to APCI members, nor will the company sell members’ loans to other mortgage companies for the life of the mortgage. APCI FCU has $190 million in assets. Its field of membership includes employees and their families of Air Products and Chemicals. GMAC Mortgage is a subsidiary of GMAC Financial Services, the financing arm of General Motors.

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