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Investors have given approval to $300 million of home loans written by AFG brokers.
The aggregator announced that it had priced its first residential mortgage-backed securities transaction of 2014 after finalising two RMBS deals in 2013.
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“Both local and offshore investors have indicated that they remain comfortable with the home loan pools overseen by the AFG Home Loans business,” it said.
AFG Home Loans general manager Cameron Smith said the latest deal was a great result for AFG.
“We’re enjoying the ongoing commitment of our 2013 investors and the introduction of several new investors to AFG. This led to the deal achieving a solid pricing outcome.”
AFG claims 11.4 per cent of Australia’s mortgage market and said its 1,950 brokers process an average of $3.5 billion of home loans per month.
