Redzed Trust Series 2017-1: 10 April 2017

The originator, RedZed Lending Solutions Proprietary Limited, was incorporated in January 2007 and its principal activity is the origination and servicing of mortgage loans on behalf the RedZed Trust Series 2007-1 and the RedZed Warehouse Trust Series No. 1, and the securitisation of the assets.

On this occasion the pool consists of 588 residential mortgage accounts (consisting of 670 mortgage loans). The average outstanding balance per mortgage loan is A$510,129 and the largest loan in the portfolio is for A$1.966mln. Occupancy Type (by current balances): owner-occupied 61%, investment 39%. Loan Documentation Type: alt-doc 91.0%, full-doc 9.0%. Repayment Type: Principal and Interest 60%, Interest Only 40%. Interest Rate Type: floating 100%. The WA current LVR is 70.80% and the WA seasoning is 12.13 months. Regional concentration (by current balances): VIC Metro – 40%, NSW Metro – 23%.


CRR/404-410: Neither RedZed Lending Solutions Pty Limited nor any other party to the transaction documents undertakes to retain, either on an ongoing basis or for any period, any net economic interest in this securitisation transaction for the purposes of the risk retention rules under the CRR.


Compare/contrast: RedZed Series 2014-1, La Trobe Financial 2017-1, Medallion Series 2016-2