It is the third portfolio sale of 2006 to Bradford and Bingley. The £599 million deal comprises of a blended pool of prime, buy-to-let and self-cert products.
Craig Beresford, director of asset sales at GMAC-RFC, said: “This is the third sale of our 2006 agreement with Bradford and Bingley and the seventeenth in our long standing relationship. We are delighted to have sustained such a long and successful partnership between our two organizations over the years and we hope to build on this for the remainder of 2006 and beyond.
“As our UK origination business grows so does our delivery of mortgage assets to the secondary trading market, cementing not only our commitment to our “create and trade” philosophy but to our partners, 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.”
GMAC-RFC has also completed its sixth portfolio sale to Derbyshire Home Loans. This £190 million deal comprises of a blended pool of prime, buy-to-let and self-cert products.
Beresford commented: “It is great news on completing our second deal of 2006 with Derbyshire Home Loans. The success of our strategy depends on getting deals done quickly and effectively, and Derbyshire’s contribution to the process compliments our approach and attitude to forging successful partnerships, and our commitment to fair play.
Richard Crisp, commercial manager – portfolio trading at Derbyshire Home Loans, added: “We are delighted to build on our excellent relationship with GMAC-RFC by completing our sixth portfolio transaction with them. GMAC-RFC enable us to grow our business in a controlled and cost effective manner, and we look forward to working together again in the future.”
