Three new transactions totaling 1.7 billion ($2.06 billion) entered the late July pipeline last week, heralding a potential delay of the routine August lull. U.K. CMBS and RMBS currently dominate the European ABS pipeline, accounting for 5.2 billion of a total 7.7 billion.

Marketing is underway for Equity Release Funding 5, a GBP379 million ($661 million) deal for Norwich Union backed by reverse mortgage products offered to older borrowers, with interest and principal repaid once the property is sold. The maximum LTV is determined by the borrowers' age and expected remaining lifespan. The provisional pool includes 8,685 loans with a weighted average borrower age of 69.7 years and a 24.4% LTV.

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