GMAC-RFC completes its 53rd portfolio sale

GMAC-RFC has completed its 53rd portfolio sale, the seventh to Amber Homeloans. This brings its portfolio sales to £8.6bn since 2000.

Portfolio sales are an important part of GMAC-RFC’s business strategy. The lender also says European investors are becoming interested in participating in the UK market.

Craig Beresford, head of asset sales at GMAC-RFC, says: “This latest sale confirms our position as the UK’s number one trader of mortgage portfolios and also the effectiveness of our create and trade strategy.

“We intend to expand our trading programme as we increase our production volumes and see higher demand from traditional and new buyers.”

Mark Smitheringale, director of asset trading at Amber Homeloans, adds: “Amber has had considerable success in the origination of mortgages over the past four years and the trading of mortgage assets is an integral part of our business.”