Uropa Securities Plc (Series 2007-01B)

Although the inaugural deal under the Uropa heading, the actual originators of the underlaying loans
are old favourites GMAC-RFC (62.56% of the pool), the Kensington Group (25.60%), and Money
Partners (11.84%). The loans were then on-sold to Topaz Finance PLC, a wholly owned subsidiary
of ABN AMRO Bank N.V.

The initial pool consists of 4,848 loans, and at close 83.4% were granted at fixed rates, 13.3% linked
to the Bank of England Base Rate, and 3.3% are LIBOR linked. Overall, 54.16% are for re-mortgage
use, and 45.84% for outright purchase. The average loan size is Stg125,212 and geographically the
three main regions in the pool are: London and the South East 38.45%, the North West 14.02%, and
the West Midlands 9.93%. Average seasoning is 3.2mnths, and the current WA LTV is 80.0%.

The pool contains no loans to individuals with a current IVA against them, nor are thee loans to prev-
ious bankruptcies. There are also no Right-to-Buy loans in the pool. However, 15.26% of the borrow-
ers have been subject to a County Court Judgment, and the percentage of self-certified loans is rather
high at 54.14%. Additionally, 29.22% of the loans were granted at a current LTV of greater than 90%.
Also, approx 12.04% of the initial pool consists of BTL mortgages.

Originally, price guidance for this transaction was given out on 03July at levels very similar to the
RMAC and KMS prints. However, the final prices have had to reflect the sharp movement seen in the
last couple of weeks on certain asset classes and these new pricing levels look like staying here for
a while, as seen with the upcoming Eurohome UK 2007-2, a 75% self-cert/30% BTL with a WA LTV of
81.89% having just released prices guidance of A2 +17a/A3 +25a/M1 +35a/M2 +60a/B1 +140a


Compare/contrast: Kensington Mortgages Securities 2007-1, RMAC Securities No.1 2007 - NS1 plc,



Kensington Mortgages Securities 2007-1RMAC Securities No.1 2007 - NS1 plc