FdTA RMBS Prado 12: 22 April 2026

Another securitisation of prime Spanish residential mortgage loans, where the fund will pool in its assets the credit rights derived from the mortgage loans granted by UCI to individuals resident in Spain in order to finance transactions involving the acquisition of finished houses in Spain or the subrogation of individuals to the financing provided to developers for the construction of houses in Spain for sale. None of the mortgage loans have been granted to real estate developers or to finance renovation of houses. All mortgage loans are secured with finished houses.

On the cut-off date the portfolio consisted of 6,347 owner-occupied mortgage loans. All loans are current, with no arrears. The average current loan balance is Eur106,642 and the largest loan is for Eur662,455. Residence type: first residence 100.00%. Interest rate type (by current balances): mixed rate – 37.70%, variable – 41.88%, fixed – 20.42%. The WA current LTV is 57.78% (original LTV was 70.06%) and the WA seasoning is 8.46years. Regional concentration: Percentage of the Outstanding Balance of the Receivables: Andalucia 25.52%, Madrid 24.79% and Catalonia 21.65%.

EU Risk Retention: The Originator will retain, on an ongoing basis, a material net economic interest of not less than 5% of the securitised exposures in the securitisation in accordance with option (d) of Article 6(3) of the EU Securitisation Regulation.

US Risk Retention: The transaction will not involve the retention of at least 5% of the credit risk of the issuer for purposes of the US Risk Retention rules, but rather reliance will be made upon a safe harbour provided for in Rule 20 of the US Risk retention rules regarding non-US transactions.

STS: The securitisation transaction is intended to qualify as a simple, transparent and standardised securitisation (STS) within the meaning of Article 18 of the EU Securitisation Regulation.

Compare/contrast: FdTA RMBS Prado 10, Lura Funding DAC, PRPM Fundido 2025-2 DAC