Mortgage specialist Firstmac has completed its second issue of residential mortgage-backed securities for the year, raising a smaller amount of funds and paying a significantly bigger margin the second time around.The latest issue, Firstmac Mortgage Funding Trust Series 2-2015, raised A$500 million, compared with $1 billion in May.The $400 million of A1a notes, which have a weighted average life of 2.8 years, were priced at 117 basis points over the one-month bank bill swap rate.The A1 notes sold in May were priced at 98 bps over the bank bill swap rate.In the latest deal, the $25 million of A1b notes, which have a weighted average life of 4.9 years, were priced at a fixed rate of 3.7 per cent.The $25 million of A2 notes, which have a weighted average life of 3.7 years, were priced at 165 bps over the swap rate.Pricing on the A2 notes in the May deal was 115 bps over the swap rate.In the latest deal, the AB notes were priced a margin of 225 bps, the B notes at 275 bps, the C notes at 350 bps and the D notes at 635 bps.Firstmac chief financial officer James Austin said in a statement that he was happy with the outcome, given the difficult market conditions of late."The result reflects the general market widening that has been observed in recent months," Austin said.Fifteen investors participated in the transaction, including 13 "real money" investors.