GMAC-RFC reveals seventh portfolio sale to Amber, worth 246m

GMAC-RFC has announced its seventh portfolio sale to Amber.

This 246 million deal comprises of a blended pool of prime, buy-to-let and self-cert products and was completed on the June 28 2006.

Craig Beresford, director of asset sales at GMAC-RFC, says: Amber is a long standing, trading partner of GMAC-RFC and have significantly contributed to the success of our portfolio sales and purchase programmes.

“Repeat deals with existing partners are a fundamental part of our trading philosophy and demonstrate our commitment to both our clients and to the growth of the secondary mortgage market.

One of GMAC-RFCs core strengths is our ability to deliver whole loan deals to the market on a regular basis and we look forward to doing business with Amber and our other partners in this field again throughout 2006.

Mark Smitheringale, associate director of Asset Trading at Amber, adds We are delighted to continue our excellent and long-standing relationship with GMAC-RFC by completing our seventh portfolio sale with them.

“This purchase complements our own mortgage asset origination programme and represents another significant step in our strategy of continued growth and profitability.