TDA Sabadell RMBS 4: 08 December 2017

A securitisation of first-ranking mortgage loans that Banco Sabadell S.A. has advanced to individuals backed by properties located in Spain.

The portfolio consists of 43,829 loans, where the average balance per borrower is Eur170,279 and the largest current loan is for Eur2.607mln, and all mortgage borrower payments in the pool are collected by Banco de Sabadell under a direct debit scheme. Some 99.6% of the portfolio is current or in arrears for less than 30 days.

The WA current LTV is 73.4% (current indexed LTV is 96.6%) and the WA seasoning is 8.1 years. Regional concentration: Catalonia 33.5%, Valencia 19.2% and Madrid 12.3%.

Compare/contrast: FTPYME TDA Sabadell 2, FdTA RMBS Prado 5