DBRS Rates GMAC CMS(Ireland), Ltd M&P Mtg as Superior

Dominion Bond Rating Service (“DBRS”) has today assigned a Superior rating to the Master and Primary Mortgage Servicing operation of GMAC Commercial Mortgage Servicing (Ireland), Limited (GMACCM Ireland).

The rating reflects a comprehensive review of the company’s organizational structure, management team, asset administration, technology, staff and training, policies and controls, and financial strength.

These ratings are based on the following factors:
(1) Strong senior management with dual roles in administering and growing the European commercial mortgage servicing portfolio while also managing several functions for its U.S. operation;
(2) In-depth training of its people who have the benefit of gaining experience by assisting the U.S. and Canadian operations;
(3) High employee retention rate;
(4) Well-developed and documented policies and procedures; and
(5) Vast knowledge of European regulations relating to the commercial mortgage servicing business.

GMACCM (Ireland) has continued to grow its portfolio since inception with 925 assets under administration totalling over US$4.8 billion as of June 30, 2005. GMACCM (Ireland) has experience servicing in France, Germany, and the U.K., and has plans to expand to other European countries by year-end.