Briefs: ME launches RMBS, ASIC bans dishonest finance brokers 21 July 2015 3:36PM Banking Day staff Briefs, ME (formerly ME Bank) has launched its first issue of residential mortgage-backed securities for the year, seeking A$500 million of funds. SMHL Series Securitisation Fund 2015-1 is backed by a pool of prime residential mortgages, which have an average loan-to-valuation ratio of 68.5 per cent. The pool has a weighted average seasoning of just under five years. The issue includes an interest rate swap provided by ANZ to hedge the mismatch between the 22.2 per cent of loans in the portfolio on fixed rates and the floating rate payable on the notes. The Australian Securities and Investments Commission has permanently banned two Perth finance brokers for dishonesty. Eric-John Larry Pryor and Peter Lachlan McDonald, who both worked for Get Approved Finance, told clients with poor credit histories that they would get car finance if their applications were supported by guarantors. They then prepared loan applications in the names of the guarantors. ASIC found that they also sourced the vehicles that were sold to three clients, inflating the prices.