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Brera RMBS Sec Srl: 12 December 2017

The principal source of payment of interest and of repayment of principal on the notes will be the collections and recoveries made in respect of monetary claims and connected rights arising out of residential mortgage loan agreements entered into by the originators and certain debtors. The Issuer purchased the portfolio on 24 October 2017.

At the cut-off date the portfolio consisted of 65,935 loans. Originator (by number of loans): Intesa Sanpaolo – 32,828 loans; Cassa di Risparmio del Friuli Venezia Giulia – 11,500; Cassa di Risparmio di Forlì e della Romagna – 8,807; Banco di Napoli – 7,307 and Cassa di Risparmio in Bologna – 5,493.

Overall, the average current outstanding amount is Eur107,565 and the largest current loan is for Eur4.829mln. The WA current LTV is 67.23% (original LTV was 75.25%) and the WA seasoning is 40.2 months. Property Type (by % of current Outstanding Amount): first home – 97.18%, second home – 2.64%, other – 0.19%. Regional distribution (by Current Outstanding Amount): Lombardia – 24.83%, Emilia Romagna – 20.82%, Friuli Venezia Giulia – 12.83% and Piemonte – 8.43%. Mortgage loan type (by Current Outstanding Amount): Non fractioned – 93.92% and Fractioned – 6.08%. Interest rate Type: Fixed all life – 62.96%, Floating all life – 26.00%, others – 11.04%.

CRR 405: ISP, BdN, Carisbo, CRFVG and CR Romagna, each in its capacity as Originator, has undertaken that so long as the Notes are outstanding it will retain a material net economic interest of at least 5% in its contribution to the Securitisation in accordance with option (d) of Article 405, option (d) of Article 51 and option 2(d) of Article 254, being an interest in the Junior Notes which is not less than 5% of the nominal value of the securitised exposures assigned.

Compare/contrast: Pontormo Mortgages S.r.l, 2017 Popolare Bari Mortgages S.r.l.