...Crimson Bond Trust 2025-1 The representations, warranties, and enforcement (RW&E) mechanisms contained in the transaction's offering documents that are available to investors for Crimson Bond Trust 2025- 1 are substantially comparable to those typically contained in Australian RMBS, as described in Fitch Ratings' research, Representations, Warranties and Enforcement Mechanisms in Global Structured Finance Transactions, dated 12 September 2024. For this transaction, representation and warranties are provided by BC Invest Loans Pty Ltd (the originator) and BC Securities Pty Limited (BC Securities). The transaction's offering documents do not include the following RW&Es that Fitch considers typical for Australian RMBS transactions: a. Terms Unqualified: Other than the relevant mortgage documents, there are no documents entered into between the seller and the borrower or any other relevant party in relation to the mortgage loan that would qualify or vary the terms of the mortgage loan. b. Mortgage...
