Kingfisher Trust 2019-1: 22 June 2019
An RMBS transaction where ANZBGL is the Seller, the Servicer, the Custodian, the Derivative Counterparty and the Liquidity Facility Provider.
Eligibility criteria (includes): it is due from an obligor who is a natural person and is a resident of Australia; it is repayable in Australian Dollars; it is fully drawn; the receivable is secured by a mortgage over property in Australia which is a registered first ranking mortgage, or a second ranking registered mortgage where there are two registered mortgages over the property securing the receivable and the seller is the first ranking mortgagee, and the first ranking mortgage is also being acquired by the Issuer; is not in arrears by more than 31 days; is not regarded as a “low-doc” loan.
As at the cut-off date (31 May 2019), the portfolio consisted of 5,484 fully-documented consolidated loans (7,138 unconsolidated), advanced to 8,817 debtors. The average loan size (consolidated) is A$273,523 and the largest is for A$1.705mln. Occupancy Status: Owner Occupied 82.06%, Residential Investment 17.94%. Payment Type: P&I 87.20%, Interest Only 12.80%. Mortgage Insurance: ANZ Lenders Mortgage Insurance 11.86%, No Lenders Mortgage Insurance 88.14%. The WA ILVR is 52.11% and the WA current LVR is 55.50%. The WA seasoning is 55.83 months. Regional concentration: NSW/ACT 34.67%, Victoria 31.02% and Queensland 15.18%.
EU Risk Retention: On the Closing Date and thereafter for so long as any Offered Notes remain outstanding, ANZBGL will, with reference to Regulation (EU) 2017/2402 of the European Parliament and of the Council of 12 December 2017, agree to retain a material net economic interest in this securitisation transaction in accordance with the text of Article 6(1) of the EU Securitisation Regulation. As at the Closing Date, such interest will be comprised of an interest in at least 100 randomly selected exposures equivalent (in total) to no less than 5% of the nominal value of the securitised exposures.
Compare/contrast: Kingfisher Trust 2016-1