The deal is GMAC's largest ever portfolio sale in its five year trading history to B&B. This is the fifth transaction of 2007 and forms part of the forward sale agreement between the two parties. This £1.1 billion deal comprises of prime, self-cert and buy-to-let asset and was completed on 31 August 2007. This is GMAC-RFC’s 100th portfolio sale.
Craig Beresford, director of asset sales at GMAC-RFC, said: "I am absolutely delighted that we have been able to deliver our largest ever sale to one of our longest standing, trading partners. This is the 23rd transaction between ourselves and Bradford & Bingley and is testament to the strength of the relationship between the two organisations. Key partners such as Bradford & Bingley have enabled GMAC-RFC to grow its franchise in the UK in both the primary and secondary mortgage markets.
"GMAC-RFC looks forward to continuing to successfully trade with all our partners, and to continue adding to our portfolio of whole loan investors over the coming months and years."
