A second Dutch residential mortgages securitization is being offered this week, this one backed by loans originated by specialty lender ELQ Portefeuille.

The deal, dubbed DELFT 2017 B.V., will issue five classes of Euro-denominated notes, all but one of which (the Class A notes totaling 63.5% of the tranche issuance) will be deferred. The size of the tranches is to be determined. Standard and Poor’s has issued preliminary ‘AAA’ ratings for the Class A tranche, which will include 37.23% available credit enhancement. This consists of excess spread, principal receipts and 2% reserve fund.

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