FirstMac Set To Sell $1.1 Bln RMBS

24 May 2007

Australia’s FirstMac mortgage lender plans to sell A$1.4 billion ($1.1 billion) of prime residential mortgage-backed securities, according to Reuters. The transaction, called FirstMac Mortgage Funding Trust Series 1E-2007, features HSBC as the lead underwriter and is backed by loans originated by HSBC Australia. FirstMac bought HSBC’s mortgage portfolio, ...

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