Vela Home 4 S.r.l.

Although the fourth in the Vela Home series, there have been four other public
Vela-series Lavoro-originated issues since Jan 2003 ( all docs available on EuroABS)

All of the underlaying loans (26,352)are for owner-occupied properties, with the average
loan size being just over Eur89,000. Average seasoning stands at 21months, with a LTV of
59.2%
All obligors have only one loans in the pool, with the top loan responsible for only
0.01% of the portfolio, and the top 20 loans at 0.21%


Geographically,Northern Italy is responsible for 50.69% of the pool, then Central
Italy with 29.63% , and Southern Italy with 19.67%

Compare/contrast : the last Italian RMBS deal to come to market was Cordusio 2006-2