GMAC-RFC book sale raises £145m

GMAC-RFC has completed its latest mortgage book portfolio sale.

The £145m portfolio of fixed and discounted mortgages is the latest GMAC-RFC portfolio to be bought by E-Mex Home Funding Limited, a subsidiary of the Cheshire.

Stephen Hynes, capital markets director at GMAC-RFC says: “This type of sale is becoming increasingly popular in the mortgage industry and re-enforces our position as the UK&#39s leading creator and trader of assets. “The transfer of these mortgage loans sees our customer friendly terms remain unchanged. This ensures that both customers and brokers will benefit from the deal.”

Jason Gaunt, director of E-Mex Home Funding, says: “Sourcing mortgage assets through GMAC-RFC is proving to be an important component in our growth strategy as we continue to build on the success that the subsidiary has achieved to date.”