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FdTA RMBS Prado 4: 03 April 2017

Another securitisation of prime Spanish residential mortgage loans, where the fund will pool in its assets the credit rights derived from the mortgage loans granted by UCI to individuals resident in Spain in order to finance transactions involving the acquisition of finished houses in Spain or the subrogation of individuals to the financing provided to developers for the construction of houses in Spain for sale. None of the mortgage loans have been granted to real estate developers or to finance renovation of houses. All mortgage loans are secured with finished houses.

On the cut-off date the portfolio consisted of 3,482 owner-occupied mortgage loans. All loans are current, with no arrears. The average current loan balance is Eur116,045 and the largest loan is for Eur526,558. Interest rate type (by current balances): floating/mixed 68.07%, fixed 31.93%. The WA current LTV is 73.35% and the WA seasoning is 56.03 months. Regional concentration: Madrid 24.90%, Cataluña 22.90% and Andalucía 21.73%.

CRR 405: In compliance with the provisions of Article 405 of CRR and Article 51 of the AIFMR, the Assignor will retain a material net economic interest of not less than 5% of the nominal value of the securitisation until the final maturity date of the notes by way of a retention in accordance with paragraph 1(d) of Article 405 of the CRR and paragraph 1(d) of Article 51 of the AIFMR (as in force at the disbursement date of the notes) of the first loss tranche.

Compare/contrast: FdTA RMBS Prado III