GMAC, a lender who lost more than $7 billion last year on bad loans and who was taken over by the Federal Government, its asking their loan officers to concentrate on the quality of loans they make.
The Loan Officers are being encouraged to approved qualified home owners by having their compensation tied to a goal. The ones who are successful indentifying good prospects will be compensated more. A total of approximately 150 are currently enrolled in this program.
4/11/2010
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