UK banking firm Barclays has launched Gracechurch Mortgage Financing 2007-01, a GBP6 billion mortgage-backed transaction. The mortgage-backed notes are issued by special-purpose vehicle Gracechurch Mortgage Financing.

<p>The agreement is the second securitization of mortgage loans to be issued via the Gracechurch Mortgage Financing (GMF) master trust and originated by Barclays Bank; the collateral is a pool of prime mortgage loans secured by residential properties across the UK. <br /><br />GMF 2007-1 comprises of 15 tranches, with expected ratings of AAA to BBB. <br /><br />This securitization once again shows the high quality of Barclays Bank&#0039;s mortgage book and good geographical mix of loans from all over the UK. The market is currently seeing record-breaking amounts of RMBS issuance, and we believe that the diversification of tranches across rating levels and currencies will appeal to investors, said Ross Aucutt, head of capital issuance and securitization at Barclays Treasury.</p>