MyState Ltd has launched an issue of residential mortgage-backed securities, seeking A$300 million of funding. Conquest Series 2016-1 Trust is backed by a portfolio of loans originated by MyState Bank. The average loan size is $221,071 and the average loan-to-valuation ratio is 68 per cent. Ninety-four per cent of the loans are covered by lenders mortgage insurance. Fintech lender Prospa has passed the milestone of A$200 million in loan originations. The small business lender also announced that it has secured another $50 million in debt capital to fund further lending growth. The company has been operating since 2011.