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BPCE Home Loans 2018-2: 12 November 2018

The purpose of the Issuer is to issue debt securities and to purchase home loan receivables from, notably, each of (i) any Banque Populaire and (ii) any Caisse d’Epargne. On the Purchase Date, the Issuer will purchase from the Sellers a portfolio of home loan receivables arising from home loan agreements entered into with certain borrowers in relation to the acquisition, the renovation, the construction or the refinancing of a residential property.

On 31 August 2018, the provisional portfolio comprised 14,742 Home Loans advanced to 13,363 households, where the average outstanding principal balance is Eur97,248 and the largest is for Eur982,036. Lender (by no. of loans / % outstanding balance): Caisse D'Epargne 9,777 / 60.50%, Banque Populaire 4,965 / 39.50%. All loans have been advanced to owner-occupiers on an amortising basis, and all were advanced at fixed rates of interest. There are no self-certified loans in the portfolio. The WA current indexed LTV is 79.30% (original LTV was 91.70%) and the WA seasoning is 40.0 months.

EU Risk Retention: Each Seller has undertaken that, during the life of the Listed Notes, it shall comply with Article 405 paragraph (1) of the Regulation (EU) no. 575/2013 of the European Parliament and therefore retain on an ongoing basis a material net economic interest in the transaction which, in any event, shall not be less than 5%. At the Issue Date, such material net economic interest shall be retained by each Seller through the subscription of the Class B Notes in relation to the proportion of the total securitised exposures for which it is the originator.

Compare/contrast: BPCE Home Loans 2017-5, Elide FCC (Compartment 2018-1)