GMAC-RFC completes mixed collateral securitisation

This is GMAC-RFC’s 17th transaction in the UK RMBS market, and total issuance since 1998 exceeds £9 billion. This deal is backed by 41% Prime/Near prime and 51% non-conforming mortgages.

This transaction has been divided into five publicly funded tranches all denominated in UK £ sterling and utilises a Senior/Subordinated structure.

Stephen Hynes, Capital Markets Director at GMAC-RFC said: “This deal rounds off a very successful year of issuance for RMAC in which we have given investors the opportunity to invest across three currencies, Sterling, Euros and US Dollars through notes collateralised by a range of collateral at various credit levels in wrapped and unwrapped format.

Hynes continued: “This transaction further demonstrates our commitment to being a creator and trader of mortgage assets.”

The issuance was lead managed by Deutsche Bank and Merrill Lynch & Co and co-managed by GMAC-RFC’s broker dealer GMAC-RFC Securities Europe.