Pic© Nigel Mykura
Bluestone Mortgages is in the market with its first UK RMBS. Dubbed Genesis Mortgage Funding 2019-1, the transaction is backed by a £198.05m portfolio of owner-occupied (comprising 80.8% of the pool) and buy-to-let loans secured by first-ranking mortgages in the higher-yielding market segment.
DBRS notes that in comparison to other specialist lenders, Bluestone’s portfolio and origination are geared towards lending to borrowers with weaker credit history.
Not yet registered? Join today to access SCI Content.