Redstone Mortgage, a wholly owned subsidiary of UniCredit Bank, is planning a £242.53 million ($407.5 million) securitization of U.K. non-conforming mortgages. UniCredit Bank is also the lead manager on the deal.
Beacon Homeloans Ltd. originated the loans between 2007 and 2009. Redstone Mortgages later purchased the loans. The preliminary pool as of March 31, 2014 had a balance of £242.5 million.