This brings its total portfolio sales to £8.6 billion since the first transaction in 2000.
Portfolio sales are an important part of GMAC-RFC’s business strategy and the effectiveness of this strategy is underlined by the fact that many building societies, mortgage banks and investment banks are also active in this market.
With European investors also becoming more interested in participating in the UKmarket, GMAC-RFC expect to continue to lead the way.
Craig Beresford, head of asset sales at GMAC-RFC, said: “We are delighted to have completed our 53rdportfolio sale. This latest sale both confirms our position as the UK’s No. 1 trader of Mortgage Portfolios and confirms the effectiveness of our create and trade strategy. We fully intend to expand our trading programme as we both increase our production volumes and experience increased demand from both traditional and new buyers."
Mark Smitheringale, director of asset trading at Amber Homeloans Ltd added: “We are delighted to continue our relationship with GMAC-RFC by completing our seventh portfolio sale with them.Amber have had considerable success in the origination of mortgages over the last four years, and the trading of mortgage assets is an integral part of our business.It has enabled Amber to achieve business growth in a controlled and structured manner.”
