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La Trobe Financial 2017-2: 28 September 2017

The La Trobe Financial Group was established in 1952 and since then has lent over A$12 billion to over 130,000 borrowers nationally. Over the last 10 years, La Trobe Financial has lent A$6 billion in primarily residential and commercial secured mortgage loans. Throughout its history La Trobe Financial has specialised in lending to borrowers who fall outside the traditional lending criteria of bank lenders, commonly referred to as the "specialised mortgage market".

The Mortgage Loans have been sourced from a pool of loans originated by the Originator. Each Mortgage Loan is secured by a first ranking Mortgage over residential property located in Australia. Eligibility criteria (also includes): the Mortgage Loan is denominated, and only payable, in Australian dollars; the Mortgage Loan requires monthly payments sufficient to pay interest and fully amortise the principal over the loan term except that a Mortgage Loan may require monthly payments sufficient to pay interest only for up to the first five years and then, for the remaining term of the Mortgage Loan, monthly payments sufficient to pay interest and fully amortise the principal over the remaining term of the Mortgage Loan; the Mortgage Loan is secured by a valid and enforceable first mortgage; the relevant Obligor has no right to convert from a variable loan to a fixed rate in respect of the Mortgage Loan; no payments due and payable by the relevant Obligor are outstanding or have not been paid in full.

As at the cut-off date (31 July 2017) the portfolio consisted of 1,352 loans (advanced to 1,276 borrowers), where the average consolidated loan balance is A$405,621 and the largest is for A$1.762mln. Occupancy (by current balances): investment 50.08%, owner-occupied 49.92%. Documentation: Full docs 52.33%, low doc 47.67%. Repayment type: P&I 57.10%, interest-only 42.90%. The WA LVR is 69.48% and the WA seasoning is 12.5 months. Regional concentration: Victoria 38.54%, NSW 25.07% and Queensland 21.41%.

CRR 405: Neither La Trobe Financial Custody & Securitisation Services Pty Limited nor any of its related entities undertakes, in relation to any economic interest in the La Trobe Financial Capital Markets Trust 2017-1 it retains or holds, to meet the requirements of the EU Retention Rules on an ongoing basis.

Compare/contrast: La Trobe Financial 2017-1, SMHL Securitisation Fund 2017-1