GMAC–RFC outsources post-completion activities to HML
8 May 2003 A team from CMS Cameron McKenna has advised
the UK’s leading all-status mortgage lender, GMAC-RFC on its
outsourcing agreement with Homeloan Management Limited (HML).
The agreement will see mortgage systems and process
outsourcer HML providing service arrangements for GMAC-RFC’s
post-completion activities.
GMAC-RFC specialises in creating and trading mortgage
assets through securitisation, portfolio sales and acquisitions.
It is ranked as the No.1 non-conforming lender and 15th largest
lender by gross mortgage lending in the UK. GMAC-RFC will continue
to manage its new business activities, including underwriting and
application processing up to and including completion.
The CMS Cameron McKenna team of partner Peter Smith
and Alex Rutter worked with Barry Searle, Commercial Director of
GMAC-RFC. Gill Davidson Associate Director - Legal and Compliance
and Pauline Cowie of Hammond Suddards Edge, advised HML.
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