AFG, Australia's largest mortgage broker, has priced its inaugural Residential Mortgage Backed Securities transaction worth $275 million.
The AFG 2013-1 Trust was priced with 10 onshore and offshore investors.
“We are delighted with the outcome and see this as a key milestone for AFG. We plan to be a regular issuer of RMBS and we will be back in the market in the coming months,” AFG Home Loans general manager Paul O’Donnell said.
The $275 million pool of home loans were originated through the AFG network and are managed by the AFG Home Loans and AFG Securities teams.
The pool was made up of 943 loans with a weighted average LVR of 64.2%. Investment loans represented 23.7% of the pool and the weighted average seasoning is 7.3 months.
Property Review