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HT Abanca RMBS 2: 29 December 2017

The second in the series of stand-alone securitisations of well-seasoned first-lien Spanish residential mortgage loans which have been originated by Abanca Corporación Bancaria S.A. Abanca Corporación Bancaria (formerly NCG Banco S.A.) is a Spanish bank, established in 2011. The bank provides retail and corporate banking services.

At the cut-off date (24 November 2017) the portfolio consists of 10,002 mortgage loans, with the average balance per borrower being Eur94,505 and the largest is for Eur1.022mln. The WA current ILTV is 58.6% (original LTV was 77.10%) and the WA seasoning is 9.1years. Regional concentration: Galicia 45.3%, Catalonia 15.5% and Valencia 8.7%.

Compare/contrast: HT Abanca RMBS 1, Caixabank RMBS 3, FTdA, SRF 2017-2