Investec’s recently announced £200 million ($314.3 million) Kensington residential mortgage-backed securities will not contain any subprime loans, according to a bank spokesman. The spokesman, denying earlier reports that there would be subprimes in the securitization, said the deal with be a combination of Kensington mortgages and others acquired by the unit. The issuance is all rated AAA.
Investec RMBS Will Be Subprime-Free