10 July 2003 12:00am

Within the prime lending segment, one regional bank, Wollongong-based IMB, is about to make it debut sale of mortgage-backed bonds.

The $500 million of loons comprises highly seasoned mortgages, more than three years old on average, and so presumably likely to pay out within two or three years. However, the average loan to valuation ratio for this seasoned pool is 74 per cent, so perhaps IMB's borrowers, concentrated on the NSW south coast, take time getting on top of their loans and have longer than average lives.

The average loan size of the pool is $122,000, more...