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GMAC Takeover Keeps Keystone Mortgage Partners Intact, Including Dallas Servicing Center

DALLAS-GMAC Commercial Mortgage is on a roll, closing on back-to-back buys in Memphis and Phoenix. The buyout of Phoenix-based Keystone Mortgage Partners, which has its only servicing center in Dallas, is a bid for a stronger presence in the southwest.

By Connie Gore | Updated on February 07, 2001

DALLAS-Horsham, PA-based GMAC Commercial Mortgage is making a move to beef up its southwestern US presence, buying Phoenix-based Keystone Mortgage Partners LLC. The life insurance-mortgage originator has its sole servicing center in Dallas as well as regional offices in Austin, Tucson and Las Vegas.

Keystone management will remain intact as will the regional offices and 19-employee servicing center, GMAC’s Scott Rombach told GlobeSt.com. The acquisition is strictly being done to beef up the nation’s leading commercial mortgage banker’s presence in the southwest and the life insurance end of the mortgage industry. “We thought it should be stronger,” he explains of the motivating factor to acquire Keystone.

GMAC, says Rombach, is always looking for acquisitions. Just last week, the banker had closed on a takeover in Memphis. Keystone’s buyout firms up GMAC’s plans for now with regard to the southwest, says Rombach. “But we’re always open to available deals,” he says, careful not to rule any prospective deals for the region.

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