AFG has launched an issue of residential mortgage-backed securities, seeking A$300 million of funding. The securities are backed by a pool of loans originated by AFG Home Loans. The weighted average loan-to-valuation ratio is 65.7 per cent, investment loans make up 42 per cent of the total and interest-only loans make up 39.6 per cent. Three-quarters of the loans are covered by lenders mortgage insurance. The Reserve Bank of Australia faces "one probe every two seconds" among "a barrage of scans," Sarv Girn, the bank's chief information officer told a Gartner Symposium on the Gold Coast yesterday. He added that "almost 70 per cent of the emails we receive are malicious in nature."