UPDATE 1-GMAC-RFC UK home loan bond oversubscribed


(Adds background, repeats deal structure) By Bei Bei She LONDON, May 24 (Reuters) - GMAC-RFC's 1.0 billion pound ($1.83 billion) UK home loan backed bond is oversubcribed, and the deal is scheduled to price on time on Wednesday, a source close to the deal said on Tuesday. This is the first bond sale by the mortgage unit of General Motors Acceptance Corp since Standard & Poor's cut the credit ratings of finance company GMAC and car making parent General Motors to sub-investment ...

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