Farringdon 2 follows predecessor with reserve fund draw

  • 17 Nov 2006

Fitch Ratings placed three tranches in Rooftop Mortgages' second Farringdon transaction on ratings watch negative after increased losses forced the issuer to draw on its reserve fund.

At its October interest payment date Farringdon Mortgages No 2 drew £53,555 (2.51%) from its £2.134m reserve fund, leaving it at 1.04% ...

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