RMBS rally lets Charter Court book residual gain
Charter Court said it had sold the residual notes in a securitization it issued just last year — with the £15m gain on the sale illustrating the rally seen in UK RMBS in the interim.
The UK challenger bank, which listed last September, sold the class Z subordinated notes and RC1 and RC2 residual certificates in Charter Mortgage Funding 2017-1 for £26.5m, allowing it to deconsolidate the deal and book a £15m gain.The deal, the first prime issue from Charter Court, ...
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