View more on these topics

GMAC picks 40 firms for Partner plan

GMAC-RFC has launched a &#39Platinum Partners&#39 programme for 40 selected packagers.

The initiative signifies a break from recent trends in the nonconforming packager industry, with several lenders dropping low-volume and low-quality packagers from their packager panels.

Companies within the new initiative will be offered facilities including compliance and regulatory seminars, early notification and access to exclusive products, access to onsite underwriters, marketing assistance and staff training programmes.

The selected 40 firms will also be served by a team of business development managers headed by Beverley Morris, recently promoted as head of Platinum Partners.

GMAC-RFC says the initiative will allow it to concentrate resources on those packagers un-likely to become Platinum Partners, but who will receive enhanced account management on a regional basis to build even closer local working relationships.

Gina Collman, head of corporate communications at GMAC-RFC, says: “This move demonstrates our commitment to the packager market, unlike some of our competitors. For our packagers who do not become Platinum Partners, we are offering business as usual, supported by a new regional sales force structure.”

Mel Fordham, managing director of Essex-based packager Olympian, says: “Developments like this will happen more and more as we move toward regulation. Lenders will have no alternative but to form panels such as these.”


TMB launches new year remortgage deals

Self-cert specialist The Mortgage Business has relaunched its remortgage products with a New Year Special. TMB, who also specialises in flexible and buy-to-let mortgages, has designed its New Year Specials to reduce clients&#39 financial outgoings with a £400 cashback. Alternatively, for those wishing to remortgage quickly TMB is also offering its Rapid Remortgage with free […]

Amber launches bespoke adverse range

Amber Homeloans Ltd has launched a full adverse, menu-driven mortgage which can be tailored to suit each individual&#39 s needs. The Bespoke Mortgage will help brokers provide an Amber mortgage for each of their clients regardless of their previous credit history. The bespoke mortgage carries a three-Month LIBOR pay rate (currently 4.03%) plus additional loading […]

The dark side

Single premium mortgage payment protection insurance may form only a tiny part of the home loan protection market, but it generates a disproportionate level of controversy. While regular monthly premium products are enthusiastically promoted by government, insurers and lenders, the single premium model is shunned by many. Its more vehement critics argue that the product […]

Three-quarters of borrowers have never remortgaged

A staggering three-quarters of mortgage holders have never remortgaged despite record levels of remortgaging last year. And only 4% who have remortgaged have done so more than once. In a survey commissioned by independent mortgage advisers Charcol, 1,960 borrowers were asked about mortgage debt. The research, conducted by Market Minder in December 2002, found that […]


News and expert analysis straight to your inbox

Sign up