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Category: RMBS

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Bluestone debuts UK RMBS

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.

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