This sale represents GMAC-RFC’s fifth transaction of 2007 and forms part of the forward sale agreement between the two parties. Furthermore, the transaction represents GMAC-RFC’s 100th portfolio sale. The GBP1.1 billion deal comprises prime, self cert and buy to let and was completed on August 31, 2007.
Craig Beresford, director of asset sales at GMAC-RFC, said: I am absolutely delighted that we have been able to deliver our largest ever sale to one of our longest standing, trading partners. This is the 23rd transaction between ourselves and Bradford and Bingley and is testament to the strength of the relationship between the two organizations. Key partners such as Bradford and Bingley have enabled GMAC-RFC to grow its franchise in the UK in both the primary and secondary mortgage markets.
GMAC-RFC looks forward to continuing to successfully trade with all our partners, and to continue adding to our portfolio of whole loan investors over the coming months and years.
