Cordusio RMBS Securitisation S.r.l

The fifth residential mortgage securitisation in the Cordusio series where on this occasion the
originator is UniCredit Banca per la Casa S.p.A (UBCasa), part of the UniCredit Banking Group,
the same originator being involved in the Dordusio RMBS 3 transaction..

In 2003 with the purchase of the loan business of Abbey National Bank Italy, and the contribut-
ion by UniCredit Banca of the line of business relating to the Tecnocasa agreement, UBCasa
became the main specialised operator in the domestic loan market with a 5.00% market share
in 2006. From the end of 2007, Fineco Bank started distributing loans granted by UBCasa, and
during 2008 some 5,000 branches of other retail banks will gradually start to distribute UbCasa
loans.

At the cut-off date (30 Sept 08), the portfolio consisted of 235,308 mortgage loans granted
to 232,063 customers. Each loan has the following characteristics: denominated in Euros; at
least one instalment has fallen due and has been paid; every loan is secured by a voluntary
mortgage over real estate assets located in Italy; instalment payments are either monthly 94.14%
of loans), quarterly or semi-annually; the maximum original tenure was 40yrs; every loan is gov-
erned by Italian law. None of the loans have been granted to employees of the UniCredit Banca
group, nor granted to any ecclesiastical bodies.

Currently there are 120 loans of greater than Eur1mln, representing 0.67% of current balances,
and 1,275 loans were originally granted at 100% LTVs. The portfolio is evenly split between
variable (116.064 loans 49.90% of current balance) and fixed (106,732 loans, 44.63%), with the
balance made up of optional and mixed rat schemes. The WA seasoning is 27.95mnths, with a
current LTV 60.54% (original LTV 64.65%). Regional concentration (by outstanding principal):
Lombardia 21.74%, Lazio 15.72%, Veneto 13.12%, Piedmonte 10.28%, and Emilia Romagna
10.19%.

Compare/contrast: Cordusio RMBS 3, Adriano Finance S.r.l., Claris Finance 2008 S.r.l.
Cordusio RMBS 3 Adriano Finance S.r.l Claris Finance 2008 S.r.l