Non-bank finance company RedZed Lending Solutions Pty Limited has completed its first residential mortgage backed securitisation for 2019. The A$400 million "RedZed Trust Series 2019-1" was RedZed's seventh and takes its total RMBS issuance to just under A$2 billion. Evan Dwyer, Managing Director of RedZed said a record number of investors participated in this transaction - notable in that the A2 notes were oversubscribed by a factor of five, and the final order book was over $1.0 billion.He said the notes priced below their initial indicative price levels (five basis points tighter for the top-rates A1 notes, while pricing came in 15 bps for the A2 notes), as investors sought these securities - even those short of the AAA mandate - as a positive step in their search for yield.Moody's and Fitch had assigned ratings. The $260 million Class A-1 Notes and the $76.0 million Class A-2 Notes were both rated Aaa (sf)/AAAsf, with five other tranches, and unrated G1 and G2 notes.The collateral pool consisted 96 per cent of fully verified self-employed borrowers and 4 per cent of fully verifiedNational Australia Bank was the arranger, and was one of two joint lead managers with Commonwealth Bank of Australia.The final order book was over $1.0 billion, reflecting strong investor support for RedZed's RMBS programme. The transaction is due to settle on 1 August 2019.