A local branch of a national mortgage company hoping to target Penn employees who live in the West Philadelphia area opened for business yesterday at 3900 Chestnut Street. GMAC Mortgage, a division of General Motors Acceptance Corporation -- based in Horsham, Pa. -- has established a partnership with the University's Office of Community Housing to provide information about homeowning and mortgages. "Through our guaranteed mortgage program for employees, the Office of Community Living will be working with GMAC to help them get information for home purchases," said Bernadette Ramsey, outreach coordinator for OCH. GMAC also plans to hold educational workshops about credit and financing for graduating students who are contemplating buying a first home. "[Buying a home] can be a very scary process -- especially when you're just starting," said Lolita Gray, district manager of the new West Philadelphia branch office, one of more than 230 nationwide. "The staff here are dedicated to holding our customers' hands throughout the mortgage process." The grand opening of the West Philadelphia branch is part of GMAC's initiative to enter housing markets in urban areas. According to Gray, the expansion represents the company's goal of providing services for all homebuyers in Philadelphia, not just those from Center City and surrounding suburban areas. The company opened yesterday with a ribbon-cutting ceremony and reception at its new facility, drawing around 50 representatives of the company, community leaders and local officials. At the opening, GMAC President Mike O'Brien pledged to work with local charities and community programs in the company's new location. "We're committed to reaching customers at the grassroots level in their neighborhoods," he said. "We want to be a part of the community." As a testament to this commitment, GMAC presented 50 Thanksgiving baskets containing canned and dried goods generated from a corporate food drive to Pastor Kermit Newkirk of the Philadelphia Interfaith Action. The packages will be distributed to local families in need. The company also gave a $10,000 contribution to Philadelphia High School Academies Inc., a non-profit organization devoted to delivering career-oriented education to over 6,000 high school students in 19 area public schools.
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