UK RMBS buyers hungry for Optimum second lien offering
UK RMBS investors are eagerly eyeing a debut securitization from Optimum Credit, Castell 2017-1 PLC, which is backed wholly by second lien mortgages.
The £242.3m offering is a first for Optimum, which is owned by private equity firm Patron Capital Partners. The company is a specialist provider of second charge mortgages for UK homeowners.The weighted average loan to value ratio of the pool is approximately 64%, with average seasoning of ...
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