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Happy Xmas from GMAC-RFC

From Mark Cocking

It was with great pleasure that a musician client of mine recently noticed the tin of GMAC-RFC mints on my desk. He
was amazed at the simple pop open/closed mechanism.

I offered him the tin. He politely accepted and emptied the contents into the bin with a frown (full of aspartame – bad stuff, apparently).

He returned a couple of days later, delighted with his acquisition. The tin can’t be opened by children, is pocket-sized and, he assures me, can hold a good quarter ounce of hashish. He would like to thank GMAC-RFC for the wonderfully designed ‘stash tin’ and has asked me to ask the company to design a special Xmas giveaway – perhaps a Santa on a sleigh which doubles as a ‘bong’.

I don’t know what he means but am reliably informed it would be popular in the industry.


Tell clients the full story on flexibility

Developments in the equity release market in 2005 offer a fresh perspective for advisers. The biggest development has been the introduction of considerably more flexible drawdown products offering like-for-like interest rates for drawdown and single sums. It is wise to ensure clients get the full picture when considering these plans and to sound a cautionary note.

Keep your people up to scratch

Approved persons may have been deemed fit and proper for their jobs at the time of authorisation but firms must verify this remains the case, says Bill Warren

SPML completes 400m securitisation

Southern Pacific Mortgage Limited has completed a 400m securitisation of its mortgage assets, consisting of 85% first charge and 15% second charge mortgages from across its light adverse and sub-prime product ranges. The securitisation was arranged and lead-managed by Lehman Brothers, who were joined by UniCredit Banca Mobiliare as co-manager. Notes were issued in US […]


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