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Precise Mortgages issues third securitisation

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  • 02/12/2014
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Precise Mortgages issues third securitisation
Charter Court Financial Services Limited (CCFS), under its brand name Precise Mortgages, issued its third public securitisation last week.

The £230m Fitch and S&P rated transaction brings CCFS’ total issuance since December 2013 to over £600m.

All loans in the transaction have been originated by Precise Mortgages in the last 12 months and been credit scored enlisting Experian scorecards and stressed to between 2 to 3%.

CCFS, acting under its brand name Exact Mortgage Experts, retains servicing of the portfolio. Exact is a premium Fitch rated UK third-party mortgage administrator with Fitch ratings of RSS2- for its special servicing and RPS3+ for primary servicing.

In September, Precise Mortgages widened its criteria for self-employed customers and is happy to accept one year of accounts or SA302 information.

 

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