Rams Home Loans, these days known as RHG Group, made a pre-tax gain of $129 million and a net gain of $103 million from the sale of its brand and franchise network to Westpac at the beginning of the year.Rams agreed to sell the business to Westpac for $140 million (pre-tax) of which Westpac is still to pay $20 million pending confirmation of various warranties.RHG said it incurred a loss of  $18 million on its former home loan financing business during the half year to December 2007.RHG held $14.4 billion in home loans on its books at the end of the year. Maximising profits from managing the run off of this book is the sole task of the residual Rams company, with excess cash to be returned to shareholders in due course.The company noted that it adopted assumption of faster repayments of the back book to take into account the current market environment that is leading to increased refinancing (and thus eroding the residual value in the company).Arrears of 30 days or more on RHG loans at December were 1.29 per cent, a rise on three months earlier but down from six months earlier, only slightly higher than industry arrears rates reported by Standard & Poor's.RHG has $3.6 billion in warehouse loans to renew by the end of June, and another $5 billion to renew by this time next year.