ING Bank Australia may become the first issuer of mortgage-backed securities this year.The DCM Review reports that its A$500 million transaction will include A$465 million of Class A notes with a weighted average life of 3.25 years.Suggested pricing for the notes is 145 basis points over the 90-day bank bill rate.If the information is accurate, this will be the first RMBS issue this year and will test investors' appetite for RMBS following the sale of jumbo tranches of covered bonds by major banks over the last three months. Pricing will be one indicator of investor appetite, while the other will be the size of the take-up by the Australian Office of Financial Management.The week before last, the AOFM sold $50 million of the Class A2 notes issued by ING Bank Australia's prior securitisation, the IDOL Trust Series 2011-2, with the sale and the terms being publicised to help shape views in the investor market.