Specialist lender closes $300m RMBS transaction

by Miklos Bolza14 Nov 2017
Specialist lender Bluestone has announced its latest $300m residential mortgage-backed mortgage securities (RMBS) transaction, Sapphire XVII.

This takes the firm’s total capital markets issuance to more than $950m over the past two years with $750m coming in over 12 months.

A total of 18 investors participated in this latest transaction with more than 50% of interest coming from offshore entities. The portfolio has a weighted average LVR of 68.6% and consists of 16.8% interest only loans.

The transaction comes at a time when Bluestone has been growing its market presence, sales volumes and industry recognition. Its financial products for SMEs and the credit impaired are in tune with specific market needs and evolving end user requirements, said Campbell Smyth, Bluestone’s Asia Pacific CEO.

“This approach continues to directly resonate with thousands of Aussies who can now access a suite of financial solutions that supports their needs, without discrimination based on trading history or credit rating.”

Smyth continued, saying that the strategy had allowed Bluestone to meet its $1bn milestone and will allow the firm to launch off and hit $2bn in the future.

“We encourage brokers to embrace specialist lending as part of their businesses, and in turn create stickier relationships and not leave revenue on the table,” he said.

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