The pool serving as collateral for the PTCs comprises 5,315 residential mortgage loans.
The principal outstanding of the pool is Rs 315 crore with total receivables of Rs 407 crore as of the cut-off date.
The loans are fully adjustable, benchmarked to the retail prime-lending rate of HDFC. The average current outstanding loan balance is Rs 5.9 lakhs. The weighted-average seasoning for the pool is about 31 months.
Issues Class A PTCs called MBS 2006 Series I Trust under the securitisation programme of HDFC.
This transaction has a par structure. The Class A PTCs will receive the scheduled principal during the first 106 months of the transaction, while Class B PTCs will receive its entire outstanding principal in the 107th month.