Powered by MOMENTUM MEDIA
realestatebusiness logo

Subscribe to our newsletter

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.

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.

Advertisement
Advertisement

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
var typesArray = { desktop: [4417], tablet: [4417], mobile: [4417], }; var zoneArray = [256196]; var zoneDivId = '#momentum-native2-zoneunit'; changePlacements(true, zoneDivId, typesArray, zoneArray, '', 'native-2-in-article');
>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.

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

The proportion of Australians who completely own their property has fallen by 11 percentage points according to the latest census data. ...

The group has confirmed that it is currently reviewing “strategic alternatives” for its banking operations, following media reports that...

The Andrews government has rejigged its cabinet and several senior ministers, including housing, following a swathe of resignations. ...

VIEW ALL

Join Australia's most informed brokers

Do you know which lenders are providing brokers and their customers with the best service?

Use this monthly data to make informed decisions about which lenders to use. Simply contribute to the survey and we'll send you the results directly to your inbox - completely free!

Do you think the new NSW property tax will help or hinder first home buyers?

Website Notifications

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