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GMAC-RFC completes largest securitisation deal

GMAC-RFC has announced the completion of its largest ever securitisation deal.

The lender&#39s 15th transaction is valued at £1.5bn and is the lender&#39s second mixed collateral deal to involve prime, near-prime and non-conforming collateral.

Capital markets director Stephen Hynes says the deal gives investors an opportunity to see GMAC-RFCs&#39 prime and near-prime collateral together with non-conforming loans, which have been securitised in the programme previously.


Skills council sets out its list of appropriate exams

The Financial Services Skills Council has published a list of 25 exams which it designates appropriate for IFAs, including modules from the Securities Institute which are not on the FSA&#39s approved list. FSSC spokeswoman Kate Saunders says: “More examinations will be added to the list in the coming weeks.” Securities Institute managing director Ruth Martin […]

Product matters

Bank of Ireland last week launched a new range of mortgages aimed at those looking to borrow between £1m and £2.5m. It will lend up to four times single income or 2.75 times joint with a maximum loan to value of 70 per cent up to £2m and charge no arrangement fee. The rates are […]

EOC wants clampdown on gender-based rates

The Equal Opportunities Commission is calling for the tightening of rules on underwriting of insurance products where men and women are offered different rates. The EOC, which opposed an EU attempt to ban gender-based underwriting, wants insurers to be able to offer different rates on grounds of sex only if they have relevant and up-to-date […]

Manchester Building Society receives MTA

Manchester Building Society Mortgage Brokering Services has received its minded to approve letter from the FSA. General manager Neil Armitage says he is “delighted” it has received the letter relatively quickly and that he thinks it is one of the first smaller networks to do so. He says: “It will help with our recruitment of […]

Allianz Technology Trust – April 2017

Welcome to the latest update for Allianz Technology Trust PLC from the Trust’s portfolio manager, Walter Price. Portfolio review The Trust’s NAV returned 4.3% , outperforming the Dow Jones World Technology Index return of 2.8%. In US dollar terms, the portfolio gained 4.8%. During the month, stock selection contributed to relative performance, and industry allocation […]


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