AOFM support comes for residential mortgage-backed securities liquidity squeeze (The Australian)

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.

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16 Apr 2014

Firstmac leads the return to offshore RMBS

Brisbane-based non-bank lender Firstmac is one of the few to venture back to offshore RMBS markets. Last year it priced two RMBS transactions totalling $900 million, each with sterling-denominated tranches that totalled £177 million.

Firstmac said it has also bucked the national trend by increasing its monthly mortgage settlement volumes to levels last seen before the GFC. This has led it to seek greater volumes of RMBS funding by going offshore.- AB+F- view article