Login
ISCOVER
Members Equity Bank’s successfully priced a $470 million Maxis Loan Securitisation Fund 2008-1 residential mortgage backed bond issue at 120 bps over BBSW on Friday.
The latest issue is an encouraging sign that spreads are reducing following Macquarie’s $300 million RMBS which priced at 110 bps less than two weeks ago.
The Members Equity issue has a weighted average life of 2.6 years and was made up entirely of fully verified income loans with a current loan-to-value ratio of approximately 64 per cent.
You’re out of free articles for this month
To continue reading the rest of this article, please log in.
Create free account to get unlimited news articles and more!
Looking for more benefits?
Become a Premium Member.
87 per cent of the loans are to borrowers paying interest and principal.
Published 30-06-08
JOIN THE DISCUSSION