The Australian government has waded into the residential mortgage-backed securitisation market for the first time since the global financial crisis, giving $200m worth to support non-bank lender Firstmac sell the first package of home loans to investors after credit markets were frozen by the coronavirus crisis. View article here (subscription required)
Firstmac assigned AAA ratings for RMBSNon-bank lender Firstmac has received AAA credit ratings for four classes of its prime residential mortgage-backed securities (RMBS).
Standard & Poor’s (S&P) assigned the ratings for Firstmac’s A-1a, A-1b, A-2 and AB classes of RMBS, which are issued by Firstmac Fiduciary Services as a trustee for Firstmac Mortgage Funding Trust No.4 Series 2-2015. - Mortgage Business- view article
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