GMAC-RFC confirms portfolio sale

Amanda Jarvis

February 27, 2006

This £350 million deal comprises of a blended pool of mainstream prime, buy to let and self-certified products and will complete on 24 February 2006.

Craig Beresford, director of asset sales at GMAC-RFC, said: “We are delighted to be able to start the year off with a new and important partnership for GMAC-RFC and look forward to developing a strong and long-lasting relationship between our two organizations. We hope that this transaction will be the first of many over the next few years.”

Beresford continued: “Transactions such as this reflects our reputation and proven track record for completing these deals both smoothly and quickly. As such, we expect to announce similar transactions throughout the year.  Building our business is a key strategic goal and this deal complements our buoyant new business.”

Jason Miller, managing director of Oakwood Homeloans Limited adds: “We are pleased to have opened up business with GMAC-RFC and hope that this transaction will help both organisations go from strength to strength. We look forward to working more closely with GMAC-RFC in the future.”

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