Co-op debuts Warwick non-conforming RMBS

Coop bank
By Graham Bippart
21 Apr 2015

The Co-operative Bank is out with the first non-conforming UK RMBS deal from its Warwick shelf, which includes loans from previous retained securitizations from the Leek shelf.

The deal, according to an investor familiar with the deal, is backed primarily by loans contained in Leek 20 and 21, which were issued and retained by the bank in 2008. It also includes new loans. Those deals were called in March.

The deal has an over-collateralization cut ...

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