Irish Life & Permanent, Ireland's biggest mortgage lender, issued the largest Irish MBS to date at the end of October, in a E600 million ($630 million) deal via Greenwich NatWest.

The transaction, called Fastnet 1, was the demutualized bank's first securitization of its Irish mortgages, but its second in total after a GBP400 million ($658 million) deal backed by mortgages written by its U.K. subsidiary.

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