GMAC-RFC sells portfolios to Morgan Stanley

GMAC-RFC has sold of two portfolios to Morgan Stanley totalling £670m.

These trades are GMAC-RFC’s first ever portfolio sales to Morgan Stanley. The transactions comprised blended pools of prime, sub-prime, buy-to-let and self-cert mortgage assets.

Craig Beresford, director of asset sales at GMAC-RFC, says: “I am delighted to be bringing Morgan Stanley into our whole program, increasing and strengthening the diversity of our investor base and expanding our already excellent relationship with the investment banking sector in the UK.

“This transaction marks another significant step forward in our commitment to provide the growing whole loan, trading market with sufficient volumes of quality collateral and best in class service.”