“Brand New Day Bank invests in Dutch mortgage loans via the bijBouwe label of Dynamic Credit”
Dynamic Credit wins mortgage mandate from Brand New Day Bank
AMSTERDAM, 14 September 2017
Following an extensive selection process, Brand New Day Bank has selected the Collective Mandate (using the bijBouwe label) of Dynamic Credit to invest in Dutch mortgage loans. Dynamic Credit has over EUR 7.8 billion of commitments in Dutch mortgage loan mandates from pension funds, insurance companies, banks directly and via the capital markets. Brand New Day Bank’s accession to the program demonstrates its attractiveness to institutional parties as a route to invest in Dutch mortgage loans.
The Collective Mandate offers investors tailored ways to invest in specific segments of the mortgage loan market . Each investor will thus get a tailor-made portfolio of individual mortgage loans and is in control of their investment. Banks for example typically desire to invest in loans with shorter fixed rate periods, while pension funds seek the ones with 20 and 30 year fixed rate periods.
The mortgage loans are originated through the bijBouwe label. bijBouwe was the first online mortgage loan provider in the Netherlands and has radically re-designed the mortgage loan application process. A prospective borrower can get an indicative offer and lock in the corresponding interest rate within 10 minutes. The whole process from application to notary can be completed within 5 days.
Jasper Koops, Portfolio Manager Dutch mortgage loans at Dynamic Credit, commented: “The mandate of Brand New Day Bank demonstrates the attractiveness of the Dynamic Credit offering. It allows institutional investors to get the specific exposure they seek and consumers an attractive mortgage loan to finance their house.”
Brand New Day Bank commented: “The simple and straightforward approach of bijBouwe has a great resemblance to the way Brand New Day operates. Both companies offer great products at low rates and succeed by fully automating processes and helping clients in person to assist at key moments. For Brand New Day Bank the Collective Mandate of Dynamic Credit provides an excellent proposition to help manage our balance sheet in an optimal way.”
For further information, please contact:
T: + 31 20 794 6059
About Dynamic Credit
Dynamic Credit is an alternative fixed income asset management firm. Founded in 2003, Dynamic Credit has offices in Amsterdam, New York and Jakarta. Dynamic Credit manages (securities of) loans of others and its own proprietary direct lending.
The team of experts at Dynamic Credit have extensive experience valuing, sourcing, creating and managing alternative fixed income products. In 2015, Dynamic Credit set up the first online mortgage distribution platform of the Netherlands (bijBouwe). In June 2016, Dynamic Credit launched the LoanClear loan portfolio surveillance platform and marketplace. In August 2017, Dynamic Credit launched the Dynamic Credit Funds ICAV, an Irish AIFM regulated fund umbrella.
Dynamic Credit is fully licensed and is regulated by Dutch, Irish and Indonesian financial market authorities.
For more information: www.dynamiccredit.com
About Brand New Day
We started Brand New Day because we believe financial services should be brought back to basics. We offer simple, easy-to-use and easy-to-understand products against very low rates combined with high service levels. That’s our DNA. We proved this model has worked in the past –when ‘customer centric’ was not a buzz word- and we will maintain this way of doing business in the future.
Brand New Day is not part of another bank or insurance company. We founded Brand New Day in 2010 with our own money and IKEA furniture. We keep margins incredibly low, but we aren’t a not-for-profit institution. We believe we can earn money the honest way, just like the bakery next door. We believe that excellent service leads to a lot more clients. And profit will follow subsequently.
While being a relatively small company, Brand New Day obtained four licenses from Dutch financial supervisory authorities. Those licenses give us the opportunity to provide our customers all the services and products they need to retire comfortably. Our clients use Brand New Day to accumulate assets by (fiscally facilitated) saving or investing. In the near future Brand New Day will also offer payment of fixed-annuities during the retirement phase.
For more information: www.brandnewday.nl