Packager Private Label is to be rebranded as GMAC RFC and from 15 October will only package GMAC mortgages.
Private Label, founded 14 years ago, was integrated with GMAC in 2000 after being bought by the company in 1998, with the intention of gradually moving away from the Private Label brand and into GMAC.
Gina Collman, head of corporate communications at GMAC, said: ‘On integration, negotiations began with the seven lenders on its panel to begin the transition away from the Private Label panel.
Notice was eventually served on the lenders earlier this year with their full agreement, to make the transition by October.’
Private Label has offered its former panel lenders correspondent lending arrangements through GMAC.