Powered by MOMENTUM MEDIA
subscribe to our newsletter

Specialist lender issues $650m in RMBS in 12 months

Bluestone Mortgages has closed its third RMBS transaction in 12 months for $250 million, bringing total RMBS issuance to over $650 million for the year.

In a statement marking the 24 May transaction, the specialist lender said the deal had attracted significant interest with tranches over-subscribed and the deal wholly sold to real money accounts.

The portfolio composition was in line with previous deals, with low investor (17.6 per cent), interest-only (17 per cent) and non-metro exposures (16.8 per cent). A total of 16 domestic and offshore investors invested in the transaction.

Bluestone’s Asia Pacific CEO, Campbell Smyth, said the company’s focus on its specialist lending product portfolio had been a successful strategy that had sustained a year-on-year growth rate of over 100 per cent, since they returned to market in 2013.

“This is a result of channelling our efforts to support start-ups and self-employed borrowers, being in tune with their evolving demands and consistently providing products that are highly appealing to the sector,” he said.

Advertisement
Advertisement

PROMOTED CONTENT


Mr Smyth attributes the substantial product uptake to Bluestone’s focus on designing products for the self-employed sector and finding solutions that don’t discriminate based on trading history. Bluestone Mortgages expects product uptake to increase in the future as the SME sector evolves.

[Related: Non-bank prices $1bn RMBS transaction]

Specialist lender issues $650m in RMBS in 12 months
mortgagebusiness

If you’re feeling overworked and overwhelmed in this fast-paced mortgage market, it’s time to make some changes, and the Business Accelerator Program can help! Early bird tickets are on sale now. Work smarter, not harder, this year.

Latest News

The REA Group has continued its expansion into the mortgage space by acquiring a 34 per cent interest in a mortgage application platform. ...

AMP has confirmed when chief executive Francesco De Ferrari will step down and when his replacement will take the reins. ...

Housing prices in capital cities have grown at the fastest rate in a decade, a new report has found. ...

How long do you think it should take to discharge a mortgage?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.