HML has announced 90 people who used to work on the GMAC-RFC account are to leaving the company following the former lender’s decision to take its mortgage administration in-house.
There will be 36 compulsory redundancies and 54 voluntary redundancies. HML currently has around 1600 staff.
Money Marketing revealed in December that GMAC-RFC had taken the decision to take the responsibility of servicing the £3.6bn book from HML, from April 13, 2011. Staff were placed into consultation following GMAC-RFC’s announcement.
In January, it was revealed Nationwide Building Society would transfer the administration of a combined £2bn mortgage book previously serviced by HML in-house following the acquisition of the Cheshire and Derbyshire Building Societies.
Meanwhile, GMAC-RFC has rebranded as Paratus.
Paratus will continue to use HML’s IT system.
HML director of marketing Julian Wells says: “We understand the personal impact on staff and are offering extensive support throughout the process. Paratus remains a client and will use the HML IT platform to administer the mortgages.”