GMAC-RFC announces portfolio sale to Oakwood Homeloans Limited
20 November 2006
GMAC-RFC, today announces its third portfolio sale to Oakwood Homeloans Limited.
This £350 million deal comprises of a blended pool of mainstream prime, buy to let and self-certified products and completed on the 17th November 2006.

Craig Beresford, Director of Asset Sales at GMAC-RFC, says: “This is our third portfolio sale to Oakwood this year and we are delighted that we are continuing to build on our strong relationship with them. This trade brings the total GMAC-RFC have sold to Oakwood in 2006 to over £1bn and represents another key milestone in our evolving strategy of investor diversification and increasing our offering to the market.”

Beresford continued: “Transactions such as this demonstrate our continuing commitment to providing the whole loan market with sufficient volumes of collateral to further enhance the availability of new sources of funding and liquidity to our mortgage market.”

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 organizations go from strength to strength. We look forward to working more closely with GMAC-RFC in the future.”

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