FirstMac Mortgage Funding Trust 4, Series 2-2018: 26 June 2018

The second RMBS transaction of the year from originator FirstMac, where the housing loans and the related securities have been originated by the originators in the ordinary course of their mortgage lending businesses across a range of geographic regions and demographic sectors. The housing loans have been made to Australian resident and non-resident borrowers and are secured by first ranking mortgages over residential property located in a state or territory of Australia.

The pool (as at 31 March 2018) consists of 2,538 fully documented and fully insured housing loans. The pool includes 274 loans of +A$1mln, which account for 19.09% of total current value. Owner type: owner-occupied 66.23%, investment 33.77%. Repayment method: principal & interest 73.64%, interest only 26.36%. Rate type (by current value): floating 95.25%, fixed 4.75%. Mortgage insurer: Genworth 84.48%, QBE 15.52%. Regional concentration: NSW 34.47%, Victoria 30.20% and Queensland 21.76%.


EU Risk Retention: No Originator nor any other party to the transaction undertakes to retain, either initially or on an ongoing basis, an economic interest in this transaction in accordance with the requirements of the Retention Rules.

Compare/contrast: FirstMac Mortgage Funding Trust 1-2018, Apollo Series 2018-1 Trust