Denmark’s Nykredit Realkredit will launch a new mortgage funding model this quarter, in an attempt to lower its covered bond issuance costs in an environment of falling house prices.
Under the new model, the loan to value limit for the retail mortgage loans that back its Danish covered bonds (SDO) will be set at 60%. Since 2008, Danish mortgage banks have been required to provide extra collateral if the loan to value of a mortgage backing an
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