Today, on 11 June 2015, Dynamic Credit, together with Quion and Hypotrust, announced the start of the origination of a new mortgage loan product, under the brand name 'Elan Hypotheek'. Pursuant to the press release, the Elan Hypotheek will have competitive interest rates, will be available outside the NHG (Nationale Hypotheek Garantie) scheme (also with a view to the forthcoming reduction of the maximum NHG loan amount) and will be accessible for borrowers with relative high loan-to-value (LtV) ratios.
Dynamic Credit will focus on the structuring of the products and overseeing the portfolio of mortgage loans. Quion will assume responsibility for the complete administrative settlement and servicing of the portfolio. Hypotrust will arrange the distribution of the mortgage loans. The mortgage loans will be funded by Goldman Sachs International. It is envisaged that in the future also external investors will be involved, who wish to access the Dutch mortgage market.
Tonko Gast, Chief Executive Officer of Dynamic Credit, comments on the collaboration: "We are pleased to be able to help bring this new range of mortgages to the market in partnership with Quion and Hypotrust. It follows a number of other similar schemes for Dutch institutional investors which Dynamic Credit launched in 2014, with a commitment of over EUR 1.8 billion. We are pleased to expand the provision of liquidity and competitively priced products to the Dutch market with this new mortgage product."
NautaDutilh advises the majority of the new originators (investors) on the Dutch mortgage market, including Venn Partners and Munt Hypotheken (the brand name of mortgage loans originated by a platform launched by DMFCO together with three Dutch pension funds).
Dynamic Credit has been advised by, inter alia, Michaëla Ulrici, Liza Gerritsen and Marijke Kuilman.
Click here for the press release by Dynamic Credit, Quion and Hypotrust.
http://fd.nl/ondernemen/1107302/nieuwkomer-op-nederlandse-hypotheekmarkt (Only available in Dutch)
http://www.volkskrant.nl/economie/ook-goldman-sachs-in-hypotheken~a4072202 (Only available in Dutch)