You are here: Home - News -

Portfolio acquisition for DHLL

by:
  • 03/12/2002
  • 0
GMAC-RFC has announced a £60m portfolio sale to Derbyshire Home Loans Limited (DHLL), a subsidiary o...

GMAC-RFC has announced a £60m portfolio sale to Derbyshire Home Loans Limited (DHLL), a subsidiary of the Derbyshire Building Society.

The deal is the second this year between the two organisations. In June, DHLL acquired a similar portfolio from GMAC-RFC, valued at £54m. Stephen Hynes, capital markets director at GMAC-RFC, said: ‘We are delighted that the Derbyshire has partnered with us for a second portfolio acquisition, and we are looking to establish similar relationships with other clients. This type of sale is becoming increasingly popular in the UK mortgage industry, and the creator and trader technique is revolutionising the market.’

GMAC sees sales as a ‘win-win’ situation for all parties, launching mortgage products when intermediaries want them and selling the resultant assets in mixed loan pools to acquiring lenders when they need them. Acquirers obtain assets without strain on existing distribution channels or in-house processing. For borrowers, the key terms of the loans remain unchanged.


Tags

There are 0 Comment(s)

You may also be interested in

Read previous post:
TRADE BODIES

IFA Promotion (IFAP) IFAP, the organisation promoting the benefits of independent advice, has appo...

Close