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90 staff to leave HML following GMAC account loss

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.”


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There is one comment at the moment, we would love to hear your opinion too.

  1. I changed my mortgage to interest only due to illness with gmac now I understand that you will not extend my mortgage when ends 2015 I was given to understand at the time thay gmac would I have written to paratus and they said they will not extend due to our ages this is causing us a great deat of distress not knowing what we can do thankyou for your atention to the matter ann monkman

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