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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.
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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.
