Research: Rating Action: Moody’s assigns definitive ratings to Ealbrook Mortgage Funding 2022-1 plc

….GBP3.5M Class E Mortgage Backed Floating Fee Notes due January 2059, Assigned Ba3 (sf)

….GBP8.8M Class X1 Mortgage Backed Floating Fee Notes due January 2059, Assigned Caa2 (sf)

….GBP3.5M Class X2 Mortgage Backed Floating Fee Notes due January 2059, Assigned Caa3 (sf)

RATINGS RATIONALE

The Notes are backed by a static pool of predominantly owner-occupied non-conforming UK residential mortgage loans originated and serviced by Bluestone Mortgages Restricted (“BML”; NR) underneath the ahead stream association with Shawbrook Financial institution Restricted (NR), the vendor of the portfolio. This represents the primary issuance out of the ahead stream association. Bluestone Mortgages Restricted launched in 2015 as specialist UK lender lively within the proprietor occupied and buy-to-let markets after the acquisition of Basinghall Finance Plc and targets debtors with complexity of circumstances.

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