Michael Bolton is losing touch with packaging developments

From Roger Brown

I couldn’t stop laughing when reading your recent article entitled ‘Bolton continues packager attack’ (Mortgage Strategy June 5). In it, Michael Bolton says packagers have been the clear losers since regulation. I’ve never read such nonsense.

He hasn’t kept up with developments. Packagers are continuing to grow which is why a global brand like GMAC-RFC supports them.

Research shows around 60% of sub-prime business is placed through packagers. Packagers aren’t losing out but Bolton is losing touch with reality.

Roger Brown, Director, Packager Review, By email