Firstmac completes $1.1bn RMBS (Mortgage Business)

Non-bank lender Firstmac has completed a residential mortgage-backed securities issuance of $1.1 billion, bringing the total amount raised by the company this year to $3.5 billion.
 
The total amount raised in 2019, $3.5 billion, amounts to 29 per cent of the company’s total balance sheet.
 
Managing director Kim Cannon stated that the results of the latest deal, Firstmac’s fourth transaction in 2019, demonstrated high investor confidence in its loan book.

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Recent articles

07 Jan 2020

Bushfires won’t impact covered bonds and mortgage backed ratings (Money Management)

The Australian bushfires will have no impact on the ratings of covered bonds and residential mortgage-backed securities (RMBS) as they remain in remote or regional areas with low population levels, according to Fitch Ratings. Fitch said the mortgage portfolios of covered bonds and RMBS were concentrated in densely populated areas, while the bushfires had mostly impacted less-densely populated areas.

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