Firstmac understands Prime Residential Securities

Firstmac has strong success with Residential Mortgage-Backed Securities (RMBS), the foundation of its successful High Livez bond fund. Since 2003, Firstmac has issued $20 billion in RMBS and in May 2015, completed a $1 billion RMBS transaction. It was the largest RMBS deal for an Australian non-bank since before the GFC.

Market acceptance of Firstmac RMBS is exceptional, with the strategy of financing high quality loans online having gained significant traction.

High Livez provides access to a market sector which is usually limited to institutional investors. It is a bond fund secured by a pool of insured residential mortgages with no construction or development properties.

Firstmac CFO, James Austin, said Firstmac’s solid history of successful RMBS issuances had fostered investor interest over more than a decade.

“The Firstmac bonds have been well received by an investor market keen to take up an offering with a strong track record,” he said. “Firstmac has demonstrated its ability to innovate and create opportunity in the home loan sector through the use of technology to capture market share from more traditional bricks and mortar lenders.”

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