Dutch residential mortgage securitization deals continue a strong showing in Europe's primary pipeline with yet another two deals marketing this week.

Friesland Bank,will market a  €693.4 million ($883 million) RMBS dubbed, Stichting Eleven Cities No. 5.  Royal Bank of Scotland has been named lead manager on the deal.

This is the fifth transaction in the Eleven Cities series.

RBS is also managing Aegon Leven's €909 million RMBS deal SAECURE 9.  The deal is jointly managed by ING, JPMorgan and Rabobank.

 The collateral comprises performing loans secured on first-ranking (or first- and consecutive-ranking) mortgages over properties in The Netherlands. AEGON Leven also services these mortgages.

SAECURE 9 is a repeat transaction from AEGON Leven. AEGON Leven originated all the loans in the securitized pool. It also provides all savings, investment, and insurance products for the loans in the pool.

According to market reports  Obvion’s €909 million STORM 2010-III, is expected to price this week.  Rabobank Group and Societe Generale Corporate & Investment Banking are lead managers on the RMBS.

The deal is a static cash securitization of residential mortgages extended to borrowers from the Netherlands. The portfolio is backed by first and sequentially lower ranking prime mortgage loans, according to a presale report from Moody's Investors Service.

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