GMAC Residential Funding Corporation is planning to execute its second residential mortgage-backed securitization through its Dutch subsidiary GMAC Hypotheken. A high-ranking GMAC official says the deal, which should come to market by year-end, will be similar in size to its first deal, which launched in July. The new deal has not yet been mandated.
E-MAC NL 2002-1, GMAC's first Dutch RMBS, was lead managed by Citigroup/Schroder Salomon Smith Barney. That E353.5 million deal's triple-A rated tranche was priced at 25 basis points over three-month EURIBOR.