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GMAC-RFC&#39s online system sees 20,000 decisions in three months

Jeff Knight, head of marketing at GMAC-RFC, says: “The reaction to the system is fantastic. We attribute this success to the fact that our unique online system is offering the best service &#45 and the mass appeal of being able to offer binding decisions.”

GMAC-RFC&#39s online system differs from others which only offer online DIPs and tracking; these seem significantly outdated now in comparison with binding decisions on the spot which cut out paperwork, uncertainty and delays.

Knight adds: “You&#39d expect that our system would appeal to non-conforming business, but we have seen the biggest increase in decisions across our mainstream, self cert and buy-to-let products.”


Guaranteed rents for buy-to-let investors save taxpayers millions

This was revealed this week as the partnership between buy-to-let investors and the London borough of Hillingdon and managed by Orchard & Shipman plc celebrated its second anniversary by showing how savings on community housing can exceed £1.5m every year for every 1,000 properties. This public sector leasing partnership with individual private investors provides a […]

Dunfermline more than doubles lending, and doubles in size

Thismeans that it has doubled in size in nine years – from just over £1bnin 1995 to £2bn in 2004. Since the branch network was restructured to provide a closer focus on the customer three years ago, lending has increased from £142m in the first seven months of 2002 to £181m in the same period […]

No room for misunderstanding in the FSA world, warns AMI.

Intermediaries who do not fully understand the FSA&#39s rules for mortgage advice will face harsher penalties than ever before after Mortgage Day, The Association of Mortgage Intermediaries has warned. From October 31, intermediaries offering mortgage advice must be fully aware of the new FSA requirements. These requirements go far beyond those that currently exist under […]

FSA measures consumers&#39 financial capability

Addressing a discussion, Financial Capability: Making informed decisions about mortgages, held at the House of Commons last week, the FSA said the baseline survey is progressing well. Part of the regulator&#39s remit is to help the public understand financial issues and ensure they do not buy unsuitable products. The industry and politicians agree that it […]


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