The deal comprises of a blended pool of mainstream prime, buy-to-let and self-certified products and completed on 17 November 2006.
Craig Beresford, director of asset sales at GMAC-RFC, said: “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 £1 billion and represents another key milestone in our evolving strategy of investor diversification and increasing our offering to the market.
“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, added: “We are pleased to have opened up business with GMAC-RFC and hope that this transaction will help both organisations go from strength to strength. We look forward to working more closely with GMAC-RFC in the future.”
