GMAC-RFC in 100m portfolio sale to E-Mex

GMAC-RFC has completed its fourth portfolio sale to E-Mex Home Funding, a wholly owned subsidiary of Cheshire.

The 100m deal was comprised of a blended pool of mainstream prime, self-certified and buy-to-let products and was completed on the December 3, 2004.

Craig Beresford, head of asset sales at GMAC-RFC says: “GMAC-RFC continues to lead the UK market in creating and trading mortgage assets.

“We are extremely pleased to have completed our fourth sale to E-Mex.

“This latest blended portfolio sale highlights the importance of providing a varied product range in the current market and of forming key, long term partnerships with our buyers and investors.”

Jason Gaunt, the marketing director at Cheshire and a director of E-Mex, says: “We are pleased to have strengthened our relationship with GMAC-RFC by acquiring our fourth mortgage portfolio from them. Portfolio acquisitions are an increasingly important part of our business success.”

“GMAC-RFC has continued to establish strong relationships with lenders and other potential acquirers throughout 2004 as it fulfills its create and trade strategy.”