The combined value of this transaction makes it their largest portfolio sale in one month to date. The transactions comprised blended pools of prime, non-conforming, buy-to-let and self-cert mortgage asset.
Craig Beresford, director of asset sales at GMAC-RFC, said: “This transaction marks another significant step forward in our relationship with Oakwood Homeloans, owned by Credit Suisse, and in our whole loan program. It demonstrates our continuing commitment to providing the whole loan market with sufficient volumes of collateral to further enhance the availability of new sources of funding and liquidity in the UK mortgage market.”
Beresford continued: “As our UK origination business continues to grow, so does our delivery of assets to our trading partners and investors, be they new or long-standing. GMAC-RFC looks forward to continuing to successfully trade with all our partners, and to further developing the now maturing mortgage trading market.”
James Bamber, director at Credit Suisse, said: “Oakwood Homeloans/Credit Suisse has become a substantial player in the UK whole loan market over the past 18 months. This transaction is a testimony of our commitment to support and continue to foster growth and liquidity in the sector. We look forward to many successful transactions with GMAC-RFC.”
