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Amber in 18m portfolio sale

Amber Homeloans has announced the sale of a further 18m portfolio of sub-prime mortgage assets to GMAC-RFC.
This is the fourth whole loan transaction completed this year involving the two organisations.

Mark Smitheringale, associate director of asset trading at Amber, says: “This transaction represents the second portfolio sale to GMAC-RFC during 2005.”


House prices rise for first time in 15 months

House prices have started to rise again for the first time in 15 months reports the latest Royal Institution of Chartered Surveyors housing market survey published. The three months to November saw 4% more chartered surveyors reporting rises in prices than falls. Octobers figures showed a balance of 8% reporting falls. Buyer enquiries have consistently […]

Networks told to monitor ARs better

The Financial Services Authority has told retail networks to improve the supervision of their appointed representatives. This follows an FSA survey that found potential shortcomings in areas such as the level of compliance resources in principal firms, the quality of desk checks and field visits to check ARs’ compliance, the use of computer systems for […]

Pink adds Preferred to panel

Pink Home Loans has added Preferred onto its packaged lender panel. In addition to sub-prime mortgages, Preferred offers a range of fixed and discounted mortgages across all niche areas including self-cert, buy-to-let and Right to Buy. Pink will also be packaging Preferreds shared ownership products on a semi-exclusive basis. Benefits of using Preferreds products include […]

PMPA to reform

John Mawdsley, director of The Mortgage Partnership, Ian Nelson, chairman of BDS and Andy Linnett, director of LMS Specialist Mortgage Services, have revealed the Professional Mortgage Packagers Alliance is reforming. Following detailed discussions with all concerned parties it has been agreed that the PMPA will be reconstituted with several changes to its constitution. Members now […]


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