GMAC-RFC announces portfolio sale to Britannia Treasury Services

GMAC-RFC today announces its fourteenth portfolio sale to Britannia Treasury Services.
This £448 million deal comprises of a blend of Non- Conforming products and was completed on the 29th June 2007.

Craig Beresford, Director of Asset Sales at GMAC-RFC, says: “Our “create and trade” strategy is built on strong relationships at both ends of the business model, which in turn contribute to the growing maturity of the secondary trading sector as a whole.”

Beresford continued: “GMAC-RFC continues to lead the UK market in creating and trading mortgage assets and looks forward to ongoing business with Britannia and other partners in this field throughout 2007.”

Britannia Board Member Gerald Gregory adds: “We are delighted to continue our excellent relationship with GMAC-RFC by completing our fourteenth portfolio sale with them. Mortgage asset trading is a valuable part of our business and we recognise the increasing role of the secondary market. This purchase represents another step in our strategy of continued growth and of delivering value to our members.”