Global residential mortgage lender GMAC-RFC has launched a new wholesale lending platform in Australia – GMAC-RFC Partners.
‘Partners’ offers competitive non-prime mortgage products, available on a white-label basis to selected mortgage managers for use under their own brands.
Neil Sinden, managing director of GMAC–RFC in Australia, says GMAC-RFC Partners is an “important strategic pillar” that will deliver the business a competitive foothold in the wholesale market.
“GMACs entry into this market appears to be quite focused. While they’re unlikely to affect established players like GE Money’s share of the non-prime sector, they will certainly give the banks something to think about”, says Gino Marra, CEO of Carrington National.
GMAC-RFC Partners national sales manager wholesale Glenn Gibson says the market’s response to the launch of their wholesale lending platform has been encouraging.
“We will be working with high quality mortgage managers that share our broker and borrower focus, and enjoy strong channels to borrowers receptive to the pricing and features that set the GMAC-RFC non-prime product suite apart,” he says.
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