Mars mission: exit loans from UK’s housing peak

By Tom Porter
24 Jul 2014

Mars Capital is looking to price its second capital markets exit of a purchased mortgage portfolio next week after mandating Citi to sell Thrones 2014-1, a UK non-conforming RMBS transaction backed by loans originated at the peak of the country’s housing market in 2007 and 2008.

Surrey-based mortgage investor Mars priced its debut £117.74m RMBS Thrones 2013-1 in August last year, and though it was a small deal the firm hoped it would set a precedent for other specialist buyers to use the product as a funding mechanism.

That deal offered just one senior tranche that ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial