Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
subscribe to our newsletter
La Trobe issues RMBS offer

La Trobe issues RMBS offer

La Trobe Financial Capital Markets Trust has issued $102 million worth of residential mortgage-backed securities (RMBS).

The 586 near-prime mortgage-backed securities have a weighted average seasoning of 71.6 months, an average loan to value ratio of 61.6 per cent and an average loan size of $174,084.

This is La Trobe Financial’s first issue and will enable the company to expand its funding capabilities.

Advertisement
Advertisement

The RMBS programme will form one part of La Trobe’s overall strategy for raising funding from domestic and overseas institutional grade investors.

La Trobe Financial said the RMBS issue complemented current institutional mandates and the growth of its retail mortgage fund in the past five years.

Chief investment officer Paul Wells said the company has raised a majority of its funding for its residential lending programme through medium- and long-term debt facilities and mandates from Australian and international banks.

“This has resulted in over $10 billion of loans being managed by the group,” said Mr Wells. “Supporting historical funding with a capital markets RMBS issuance creates complementary opportunities to strengthen and expand our funding footprint with more investors both here and globally.”

Commonwealth Bank of Australia's head of debt markets securitisation, Rob Verlander, said the transaction demonstrates La Trobe’s "ongoing support of the market for this asset class”.

“It is our expectation that La Trobe Financial will be able to access this market regularly and successfully in the future,” said Mr Verlander.

La Trobe issues RMBS offer
mortgagebusiness

 

Latest News

Regulators could move to set caps on loan volumes for borrowers with high debt-to-income ratios if the housing market recovery continues to ...

The federal Treasurer has welcomed the final budget outcome for the 2019 financial year, which shows that the deficit now equates to zero pe...

The Federal Reserve has slashed rates for the second consecutive month, “reinforcing” the necessity of further cuts to the cash rate in ...

FROM THE WEB
podcast

LATEST PODCAST: New lending launches

Do you think the mortgage market will see more consolidation this year?

Website Notifications

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