JP Morgan to sell on crisis-era UK RMBS

By Tom Porter
16 Oct 2014

JP Morgan is at the head of a consortium that has acquired a £2.7bn portfolio of legacy performing UK residential mortgages from the UK government’s bad bank, and has structured the assets into two RMBS transactions to syndicate to investors.

UK Asset Resolution Limited (UKAR), the holding company for Bradford & Bingley and Northern Rock’s soured loans, said on Tuesday it had sold the portfolio of around 27,000 mortgages to servicer Commercial First as part of a consortium led by the US bank.

UKAR said the sale represented ...

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