Platform Funding Limited, a wholly owned subsidiary of the Co-Operative Bank, and Paratus (formerly GMAC-RFC) are securitizing £1.78 billion ($2.6 billion) of U.K. non-conforming loans.

Paratus originated 44.50% of the loans and Platform Funding originated the other 55.50%.  Bank of America Merrill Lynch, Morgan Stanley and Citigroup Global Markets are the lead managers on the deal, called Warwick Finance Number One, according to presales reports from Moody’s Investor Service and Standard & Poor’s

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