EuropeLoan Finance N.V is poised to hit its biggest kink yet with the announcement earlier this month that its originator and administrator - internet based lender EuropeLoan N.V - is forging ahead with its plans to file bankruptcy and cease all its lending capabilities.

The E110million securitization of the mortgage lender's Swedish mortgage portfolio already encountered its first credit fiasco a few months after it priced earlier this year. The transaction's original primary servicer, Hedera Affasaadministrtion AB, became insolvent and the transaction then had to call up its back-up servicer, Cerdo Bankpartner AB.

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