ColCap Financial Limited (“ColCap”) announced the successful settlement today of two Residential Mortgage-Backed Securities (“RMBS”), namely the:
- $1.2 billion Triton 2023-2; and
- $533 million Vermillion 2023-1 issues.
In addition to pricing and then settling both transactions simultaneously, the transactions are noteworthy in that:
- Triton 2023-2 included ColCap’s first ever green notes tranche, the $200 million A1-AU-G note; and
- Vermillion 2023-1 is not only ColCap and the market’s largest ever all Non-Resident RMBS, but also the first Non-Resident RMBS in which all the loans were covered by lenders mortgage insurance.
ColCap’s Co-Founder and Chief Executive Officer Andrew Chepul said “We are delighted by today’s two successful RMBS issues and by the confidence both existing and new debt investors have once again shown in us. Green bonds are an important focus for us and as a result our Triton 2023-2 issue included our first ever green tranche. We pride ourselves on innovative thinking at ColCap and are particularly proud to have been able to structure the market’s first ever 100% mortgage insured Non-Resident RMBS, which is also the market’s largest ever all Non-Resident RMBS.”
ColCap is a privately owned leading non-bank lender specialising in prime residential mortgage lending. ColCap was founded in 2006 and currently has a loan portfolio in excess of $12.7 billion.
ColCap lends primarily through:
- the Wholesale lending brand Origin Mortgage Management Services, which primarily services mortgage managers that offer white labelled mortgage loans;
- the award-winning Retail lending brand Homestar Finance, which primarily offers mortgage loans direct to borrowers; and
- the Broker lending brand Granite Home Loans, which offers selected loan products to borrowers utilising aggregators and mortgage brokers.
ColCap is also a nascent residential mortgage lender in the United Kingdom through its subsidiary Molo Tech Limited (“Molo”), and a significant shareholder in Austrata Finance which is an innovative newly established provider of strata loans in Australia.
Columbus Capital rebranded as ColCap with effect from September 2021.