Hypenn RMBS VI B.V.: 15 December 2016

The issuer will make payments on the notes from payments of principal and interest received from a portfolio comprising mortgage loans originated by originator Nationale-Nederlanden Bank NV and secured over residential properties located in the Netherlands.

At the cut-off date the portfolio consists of 3,677 loans (in 8,442 loan parts), where the average principal balance (borrower) is Eur254,026 and the largest current balance is Eur1mln. Redemption type (by current outstandings): Interest Only 39.45%, Annuity 23.49%, Bank Savings 20.59%, Life 8.18%, others 8.29%. Interest payment type: fixed 98.81%, floating 1.19%. The WA current LTIMV is 80.80%, the WA current LTIFV is 90.43% and the WA seasoning is 6.00 years. Regional concentration: Zuid-Holland 24.30%, Noord-Holland 18.87%, Noord-Brabant 16.51% and Gelderland 11.60%.

Significant investor: Rabobank, HSBC and J.P. Morgan have agreed to purchase at the Closing Date, subject to certain conditions precedent being satisfied, the Class A Notes. Furthermore, NN Bank has agreed, subject to certain conditions precedent being satisfied, to purchase at the Closing Date the Class B Notes and the Class C Notes.

CRR 405: NN Bank, in its capacity as Seller, has undertaken that, for as long as the notes are outstanding, it will at all times retain a material net economic interest in the securitisation transaction which shall in any event not be less than 5%, in accordance with Article 405 of the CRR and Article 51 of the AIFMR.


Compare/contrast: Hypenn RMBS V, Storm 2016-II B.V.