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20

RBC Seeks to Join Canada Mortgage-Bond Fray on Nonprime Deal

By Tony Seruga

The bank has held meetings to gauge investor interest in bond
MBS would be backed by ‘alt-A’ nonprime residential mortgages

Royal Bank of Canada is the latest Canadian firm to explore a sale of bonds backed by uninsured residential mortgages.

The bank is testing investor interest in a deal that would bundle mortgage loans to borrowers with credit ratings just below prime, known as “alt-A” mortgages, according to Tim Wilson, chief financial officer of Equitable Group Inc., one of the lenders which is originating the loans being bundled…

RBC Seeks to Join Canada Mortgage-Bond Fray on Nonprime Deal

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