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Background
GMAC-RFC unveils wholesale lending range

Global mortgage lender GMAC-RFC has unveiled a range of wholesale lending products with the launch of GMAC-RFC Partners in Australia.

Based on its successful UK model, GMAC-RFC Partners will make available a range of non-prime mortgage products on a 'white-label' basis to selected mortgage managers, for sale under their own brands.

The launch of these products in Australia follows a pilot commenced late last year with listed mortgage group Firstfolio Limited.

Firstfolio is the inaugural partner of the fully fledged GMAC-RFC Partners business in Australia.

GMAC-RFC Australia managing director Neil Sinden said GMAC-RFC was "grateful for the co-operation" received from Firstfolio while preparing the GMAC-RFC Partners model for full launch.

"We look forward to working with other quality mortgage managers as we grow our wholesale business," Sinden said.

Key Personnel
Neil Sinden - managing director