GMAC Mortgages Sold to other Companies

Pawel1226

About a year ago, my mortgage with GMAC RFC was sold to another company that now manages my mortgage.
Does anyone know how I can find out how much the mortgage was sold for?
Several years ago, I was unsuccessful for a job interview for a major Debt Buying Agency that informed me that debt is auctioned freely on a daily basis in the City. I'm wondering if any information on the sale is available?
I appreciate that debt tends to be sold in "bundles" but usually, you can determine whether its 40p in the £, 60p or whatever....
Does anyone have any experience of this please?

opinions4u

There's probably a record of the transaction somewhere that is open to the public - but it will only reflect the batch of debt sold. I have no idea where though.

More importantly, why do you want to know? It changes nothing when it comes to your mortgage!

aimingforadebtfreelife

GMAC is a (or was) a sub prime lender. They take on a bit of risk (but get paid via high charges) but when the mortgage history is built up and you say have paid regularly for say 2 years they are normally sold on to more mainstream lenders and their offshoots as now less of a risk. My GMAC mortgage was sold onto Scarborough Building Society which is part of Skipton BS. The cost its sold on for is still pretty tight to the current o/s balance as its being sold as a good debt and with security... the house.