RMAC No. 3 PLC is a static RMBS transaction that securitizes a portfolio of £344.70 million owner-occupied and buy-to-let (BTL) mortgage loans secured on properties in the U.K. At closing the seller (Paratus AMC Ltd.) purchased the beneficial interest in the portfolio of loans originated by GMAC-RFC Ltd., Amber Homeloans Ltd., participating firms in GMAC-RFC's lending program and Future Mortgages Ltd. The issuer used the issuance proceeds to purchase the full beneficial interest in the mortgage loans from the seller. The issuer granted security over all of its assets in favor of the security trustee. The pool is well seasoned. All the loans are first-lien U.K. owner-occupied and BTL residential mortgage loans. The borrowers in this pool may have previously