View more on these topics

PMPA members increase business with GMAC-RFC

Members of the Professional Mortgage Packagers Alliance have seen an increase in business from the GMAC-RFC’s Partners range.

The second quarter of the year showed GMAC-RFC Partners business levels up 25% on the preceding three month level overall.

Jon O’Brien, PMPA director of operations, says: The sub-prime sector is experiencing high demand at the moment, which seems set to continue. PMPA members access to the excellent products services available via the GMAC-RFC Partners arrangement has enabled them to market these benefits successfully and substantially enhance business levels.

“PMPA exists to create powerful and beneficial lender relationships for members, and we are extremely pleased that the GMAC-RFC partnership is working so well to the benefit of the lender, PMPA members, their brokers, and the end customers.

Roger Brown, director of GMAC-RFC Partners says: PMPA members are not alone in enjoying enhanced business levels through their GMAC-RFC Partners affiliation. The growth in our Partner business has been due to Packagers understanding that we are committed to their distribution and will remain so for the future. I hope this is true of all new lenders seeking to court this sector.

PMPA member packagers consist of Countrywide Mortgage Centre, Niche Mortgage Solutions, Creative Mortgage Solutions, ATOM, BDS, Complete, Finance and Mortgage Solutions, The GHL Group, KGB Packaging, Knight Funding, Open Door Solutions, OPM, Premier Mortgage Centre, Premier Mortgage Packagers and Primrose Mortgage Processing.

Recommended

Consumer guide to equity release

GE Life has launched a guide to equity release aimed at consumers, their families and financial advisers. It is intended to help families and older relatives explore ways of releasing equity and increasing income in retirement. GE Life also has a guide for solicitors in the pipeline to educate them about the benefits of equity […]

Lender changes sub-prime range

London Scottish Mortgages has changed its range of sub-prime residential mortgages after a review in consultation with brokers and packagers.

Nationwide changes its fixed rate mortgage

Following the recent changes in money market swap rates, Nationwide has changed its fixed rate mortgages, as from August 15.The new fixed rates, now include a two-year fixed rate with a 699 fee at 5.09%, a two-year fixed rate with a 399 fee at 5.18%, a three-year fixed rate, with a 399 fee at 5.38%, […]

Assetz launches new property fund

Assetz Fund Management is to lauch a new property fund providing developer finance for a 75m mixed use scheme in Ipswich.The launch comes following the Finance Act on July 20, which confirmed that indirect residential property ownership is permitted within a SIPP.The fund will help finance the landmark scheme, The Mill, a 75m new waterfront […]

Newsletter

News and expert analysis straight to your inbox

Sign up