Standard&Poor's Ratings Services has assigned credit ratings to the €700 million residential mortgage-backed floating-rate notes issued by E-MAC Program II B.V. Compartment NL 2007-IV (E-MAC 2007-IV), an SPE. E-MAC 2007-IV also issued €2.8 million of unrated class E notes to fund the reserve fund. This is the first issuance under the new E-MAC program II set up by GMAC-RFC Nederland B.V. The originators are GMAC-RFC Nederland, Quion 20 B.V., and Atlas Funding B.V. All three originators are wholly owned subsidiaries of GMAC-RFC Investments B.V. Although the Quion 20 mortgage loans are funded by GMAC-RFC Nederland, the origination process has been conducted by Quion Hypotheekbemiddeling B.V., which acts as an intermediary and servicer for the Quion 20 mortgage loans
