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RMAC No.1 PLC: 06 April 2018

Another stand-alone transaction from Paratus AMC Limited, where payments will be made on the notes from payments of principal and revenue received from a portfolio comprising mortgage loans which were originated by GMAC-RFC Limited (currently known as Paratus AMC Limited) and Amber Homeloans Limited, secured over residential properties located in England, Wales, Scotland and Northern Ireland.

The deal sees the collateral from 12 legacy transactions being pooled in RMAC No.1. The portfolio aggregates the loans remaining in the 12 deals that have been redeemed.

Significant Investor: The Seller will, on the Closing Date, purchase 100% of the Class Z1 Notes, 100% of the Class Z2 Notes and will also hold 100% of the Residual Certificates.

At the Portfolio Reference Date (30 November 2017) the pool consisted of 8,200 variable-rate accounts, where the Average Capital Balance per Account is £79,873 and the largest is £500,000. Repayment Type (by current balances): interest-only 75.33%, annuity 22.50% and P&P 2.17%. Loan Purpose: re-mortgage 59.57%, purchase 40.43%. Occupancy Type: owner-occupied 89.69%, BTL 10.31%. Non Self-Certified Product & Income Verification: Self-Certified with no income verification 63.68%, Non Self-Certified Product with no income verification 14.30%. Arrears Multiple: 1 <=x< 2 4.67%, 2 <=x< 3 3.26%, >= 3 7.95%. CCJ Number: >= 3 2.45%. The WA CLTV is 67.63% (original LTV was 75.28%) and the WA seasoning is 13.1 years. Regional concentration: Greater London 20.90%, North West 11.92%, West Midlands 11.22% and Outer Metropolitan 11.09%.

CRR 405: On the Closing Date and until all the Rated Notes have been redeemed in full, Paratus AMC Limited will, as an originator for the purposes of the CRR, retain a material net economic interest of not less than 5% in the securitisation by the Retention Holder subscribing for and thereafter holding an interest in the first loss tranche, represented in this case by the retention by the Seller of the Class Z1 Notes and the Class Z2 Notes. The aggregate Principal Amount Outstanding of the Class Z1 Notes and the Class Z2 Notes as at the Closing Date is equal to at least 5% of the nominal value of the securitised exposures.

US Risk Retention: The transaction is not intended to involve the retention by a sponsor for purposes of compliance with the final rules promulgated under Section 15G of the Securities Exchange Act of 1934, but rather is intended to rely on an exemption provided for in Rule 20 of the U.S. Risk Retention Rules regarding non U.S. transactions.

Compare/contrast: RMAC 2005 - NS4 plc (Redeemed), Stanlington No.1 plc, Tower Bridge Funding No.1