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Non-major to beef up funding

by Staff Reporter7 minute read
The Adviser

ING Bank (Australia) Limited (ING) is gearing up for its first RMBS issue in Australia.

The issue will total $500 million and the transaction is a first public securitisation of a portfolio of Australian prime residential mortgages originated by ING.

The news will be welcomed by brokers at a time that second-tier lenders are making a strong comeback in mortgage lending.

ING has been originating loans in Australia for 10 years, and service a book of $A36.7 billion of retail loans.

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