June 2024
Deutsche Bank appointed on Irish Residential Mortgage-Backed Security (RMBS)
The Deutsche Bank Trust and Agency Services (TAS) team has supported Dilosk DAC (Dilosk), a mortgage lender based in Dublin, Ireland, with their EUR 212m RMBS, Dilosk RMBS No.9 DAC.1 This transaction represents the ninth public standalone RMBS issuance for Dilosk and their second in 2024.
The notes are due in 2063 and are backed by a pool of buy-to-let prime mortgage loans originated by Dilosk and secured on residential properties located in Ireland.
TAS will perform all core roles including Account Bank, Cash Manager, Principal Paying Agent and Trustee.
"We are pleased to have been appointed on our fifth public RMBS deal with Dilosk reflecting our long-term successful partnership with one of Ireland’s largest RMBS originators,” said Jason Connery, Head of Trust and Agency Services EMEA and Regional Head of Corporate Bank UK & Ireland at Deutsche Bank.
About Dilosk
The primary business of Dilosk is the origination and funding of residential mortgage loans in Ireland, with origination conducted through a direct channel and a nationwide intermediary network. In early 2017, Dilosk commenced new buy-to-let lending origination under the ICS Mortgage Brand. In September 2019, Dilosk began owner occupier lending origination, also under the ICS Mortgage Brand. Dilosk DAC trading as Dilosk and ICS Mortgages is regulated by the Central Bank of Ireland.