FIRST ACTIVE / ULSTER BANK Securitisations……


As most of you will now understand, I take serious issue with the Bank’s in relation to securitisation, in continuing along this path I have prepared some information regarding First Active / Ulster Bank which may come as a surprise to anybody who thinks that their mortgage wasn’t sold by the Bank!

I have endeavoured to display summary detail on the 16 companies which were set up by both First Active and Ulster Bank more recently, these companies are all named the same except for a number in each one, e.g CELTIC RESIDENTIAL IRISH MORTGAGE No.1 plc…No.2 plc….No.3 PLC and so on until you reach 16.

You will see that not all summary information is available but before we go into detail I would like to share some top-level numbers with you:

In offering numbers 9 through 16, with the exception of No.13 ( Ulster must be superstitious), 

Total numbers of Irish Mortgages Offered for Sale is : 101,381

With a combined total value of : €18,086,253,882

Yes, that’s just over 18 Billion !

Anyway take a look for yourself…… keep in mind these transactions date back to the late 1990′s.

First Active / Ulster Bank Irish Mortgage Backed securitization Offerings to date:

CELTIC RESIDENTIAL IRISH MORTGAGE SECURITISATION No.1 to 7 PLC

No detail is available at present for these 7 Companies as they were wound up in the High Court and had a Liquidator appointed on 27th September 2011 at an extraordinary general meeting in Ulster Bank Dublin, the excerpt from Iris Oifigiuil which appeared in the issue dated October 11th 2011 is as follows :

IN THE MATTER OF

CELTIC RESIDENTIAL IRISH MORTGAGE SECURITISATION NO. 1 PUBLIC LIMITED COMPANY

CELTIC RESIDENTIAL IRISH MORTGAGE SECURITISATION NO. 2 PUBLIC LIMITED COMPANY

CELTIC RESIDENTIAL IRISH MORTGAGE SECURITISATION NO. 3 PUBLIC LIMITED COMPANY

CELTIC RESIDENTIAL IRISH MORTGAGE SECURITISATION NO. 4 PUBLIC LIMITED COMPANY

CELTIC RESIDENTIAL IRISH MORTGAGE SECURITISATION NO. 5 PUBLIC LIMITED COMPANY

CELTIC RESIDENTIAL IRISH MORTGAGE SECURITISATION NO. 6 PUBLIC LIMITED COMPANY

CELTIC RESIDENTIAL IRISH MORTGAGE SECURITISATION NO. 7 PUBLIC LIMITED COMPANY

(In Voluntary Liquidation)

AND IN THE MATTER OF

THE COMPANIES ACTS 1963-2009

At Extraordinary General Meetings of the above named Companies duly convened and held at Ulster Bank Group Centre, George’s Quay, Dublin 2, on 27 September, 2011, the following Resolutions were duly passed in respect of the above named Companies:

(1) ‘‘That the Companies be wound up voluntarily.’’

(2) ‘‘That William O’Riordan of PricewaterhouseCoopers, One Spencer Dock, North Wall Quay, Dublin 1, be and is hereby appointed Liquidator for the purpose of winding up the Company.’’

(3) ‘‘That the Liquidator be and is hereby authorised to divide among the Members in specie or kind the whole or any part of the assets of the Companies (whether they shall consist of property of the same kind or not) and for such purpose to set such value as he deems fair upon any property to be divided as aforesaid and to determine how such division should be carried out as between the Members.’’

NOTE: This is a Members’ Voluntary Winding-Up. All admitted Creditors have been or will be paid in full.

Dated this 6th day of October, 2011.

WILLIAM O’RIORDAN,

Liquidator.

 

CELTIC RESIDENTIAL IRISH MORTGAGE SECURITISATION No.8 PLC

Prospectus Date: NO DETAIL AVAILABLE, BOND DID ISSUE, CONTINUING TO INVESTIGATE

Value:

No. of Mortgages:

Market:

Floatation Date:

CELTIC RESIDENTIAL IRISH MORTGAGE SECURITISATION No.9 PLC

Prospectus Date:             23RD November 2005

Value:                                   €1,806,761,799.00

No. of Mortgages:           13,128

Market:                                                Irish Stock Exchange (www.ise.ie)

CELTIC RESIDENTIAL IRISH MORTGAGE SECURITISATION No.10 PLC

Prospectus Date:             3rd August 2006

Value:                                   €1,787,884,457.00

No. of Mortgages:           12.655

Market:                                Irish Stock Exchange (www.ise.ie)

CELTIC RESIDENTIAL IRISH MORTGAGE SECURITISATION No.11 PLC

Prospectus Date:             7th December 2006

Value:                                   €4,079,874,619.00

No. of Mortgages:           22,568

Market:                                                Irish Stock Exchange (www.ise.ie)

CELTIC RESIDENTIAL IRISH MORTGAGE SECURITISATION No.12 PLC

Prospectus Date:             28th February 2007

Value:                                   €2,088,020,856.00

No. of Mortgages:           14,478

Market:                                                Irish Stock Exchange (www.ise.ie)

CELTIC RESIDENTIAL IRISH MORTGAGE SECURITISATION No.13 PLC

Prospectus Date:             NO DATA AVAILABLE / MAYBE ULSTER IS SUPERSTITIOUS

Value:

No. of Mortgages:

Market:

Floatation Date:

CELTIC RESIDENTIAL IRISH MORTGAGE SECURITISATION No.14 PLC

Prospectus Date:             20th November 2008

Value:                                   €4,018,893,027.00

No. of Mortgages:           19,062

Market:                                                Irish Stock Exchange (www.ise.ie)

CELTIC RESIDENTIAL IRISH MORTGAGE SECURITISATION No.15 PLC

Prospectus Date:             14th August 2009

Value:                                   €3,494,689,266.00

No. of Mortgages:           14,367

Market:                                Irish Stock Exchange (www.ise.ie)

CELTIC RESIDENTIAL IRISH MORTGAGE SECURITISATION No.16 PLC

Prospectus Date:             1st April 2010

Value:                                   €810,129,858.00

No. of Mortgages:           5,123

Market:                                                Irish Stock Exchange (www.ise.ie)

 

One comment

    1. Peter Mawhinney · · Reply

      Great piece of investigative blogging, well done!

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