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Pepper Homeloans confirmed a record pricing for its Residential Securities Trust No. 6 (PRS6) non-conforming issue, demonstrating the current strength of the Australian market.
The result directly contradicts claims that a downturn similar to the situation currently being experienced by the US sub-prime market is imminent for the Australian specialty lending sector.
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Chief Financial Officer at Pepper, Patrick Tuttle, is bullish about market conditions and Pepper’s long-term prospects. “The record pricing levels achieved for PRS6 represent a strong vote of confidence in Pepper’s business model, long-term experience in originating and underwriting non-conforming mortgages, and the strength of our specialist servicing platform.”
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