Cordusio RMBS Securitisation S.r.l. - Series 2006

Transcription

1 Cordusio RMBS Securitisation S.r.l. - Series 2006 INVESTOR REPORT Securitisation of a portfolio of performing mortgage "fondiari" loans by UniCredito Italiano S.p.A., Credito Italiano S.p.A. and UniCredit Banca S.p.A. Euro 500,000, Class A1 Mortgage Backed Floating Rate Notes due June 2035 Euro 1,892,000, Class A2 Mortgage Backed Floating Rate Notes due June 2035 Euro 45,700, Class B Mortgage Backed Floating Rate Notes due June 2035 Euro 96,000, Class C Mortgage Backed Floating Rate Notes due June 2035 Euro 10,688, Class D Mortgage Backed Floating Rate Notes due June 2035 Investor Report Date 07/01/2019 Quarterly Collection Period 01/09/ /11/2018 Interest Period 28/09/ /12/2018 Interest Payment Date 31/12/2018

2 This Investors Report (the Report ) has been prepared by Capital and Funding Solutions SRL ( CFS ), in its role as Calculation/Computation Agent and is based, inter alia, on the Servicer Reports prepared by the Servicer as well as data provided to CFS by other third parties. Although such information has been obtained from sources believed to be reliable, neither CFS, nor its subsidiaries or affiliates, or any of their respective directors, managers, officers or employees makes any representation as to their fairness, accuracy, completeness or reliability or shall have any responsibility or liability for any loss or damage howsoever arising from or otherwise in connection with the use of this Report. This Report is not for retail clients (as defined by the European Markets in Financial Instruments Directive) and persons into whose possession or attention this document comes must inform themselves about, and strictly observe, any such restrictions. This Report is provided for information purposes only and does not constitute or form part of, nor may be construed so as to constitute or form part of, an offer, or the solicitation of any offer, to buy, sell or subscribe for any securities mentioned herein, nor is it intended to provide an evaluation of the risk related to an investment in such securities or for use by any person in making investment decisions. By accepting this Report, you agree to be bound by the foregoing restrictions. The information provided in the Report can not substitute the obtaining of independent financial advice. If this Report has been sent to you in electronic form, you are reminded that documents transmitted via this medium may be altered or changed during the process of electronic transmission and consequently none of CFS, its subsidiaries or affiliates or any of the directors, officers or employees thereof, accepts any liability or responsibility whatsoever in respect of any difference between the documents distributed to you in electronic format and the hard copy version available to you on request from CFS.

3 Cordusio RMBS Securitisation S.r.l. - Series DESCRIPTION OF THE NOTES Issuer: Issue Date: 10/07/2006 Sole Arranger: Joint Lead Managers: CORDUSIO RMBS SECURITISATION S.r.l. UniCredit Bank AG, London Branch (formerly known as Bayerische Hypo und Vereinsbank AG, London Branch) Banc of America Securities Limited, UniCredit Bank AG and Société Générale Corporates & Investment Banking Series Class A1 Class A2 Class B Class C Class D Amount issued Currency Final Maturity Date Listing ISIN Code Common Code Clearing System Indexation Spread at Issuance Rating at the Issue Date 500,000, ,892,000, ,700, ,000, ,688, Eur Eur Eur Eur Eur Jun-35 Jun-35 Jun-35 Jun-35 Jun-35 Irish Stock Exchange Irish Stock Exchange Irish Stock Exchange Irish Stock Exchange Irish Stock Exchange IT IT IT IT IT Clearstream Euroclear Clearstream Euroclear Clearstream Euroclear Clearstream Euroclear Clearstream Euroclear Euribor 3 M Euribor 3 M Euribor 3 M Euribor 3 M Euribor 3 M Fitch AAA AAA AA BBB+ Unrated Moodys Aaa Aaa Aa1 Baa2 Unrated Standard & Poor's AAA AAA AA BBB Unrated Originator / Servicer: Interest Day Count: Corporate Servicer: Computation Agent: Account Bank: Principal Paying Agent: Representative of Noteholders: Swap Counterparty: UniCredit S.p.A. (formerly known as UniCreditBanca S.p.A.) Actual/360 dobank S.p.A. (formerly Known as UniCredit Credit Management Bank S.p.A.; UniCredit Gestione Crediti S.p.A.) Capital and Funding Solutions Srl BNP Paribas Securities Services S.A., Milan Branch BNP Paribas Securities Services S.A., Milan Branch Securitisation Services S.p.A. Credit Suisse International

4 Cordusio RMBS Securitisation S.r.l. - Series CLASS A1 NOTES (ISIN code IT ) Interest Period Interest Amount Accrued Before Payments Payments After Payments Start (included) End (excluded) Payment Date Coupon Days Interest Due Unpaid Interest Principal Interest Principal Unpaid Interest Principal 10/07/ /09/ /09/ % 81 3,463, ,000, ,463, ,000, /09/ /12/ /12/ % 91 4,330, ,000, ,330, ,000, /12/ /03/ /03/ % 91 4,767, ,000, ,767, ,000, /03/ /06/ /06/ % 91 5,010, ,000, ,010, ,000, /06/ /09/ /09/ % 91 5,326, ,000, ,326, ,000, /09/ /12/ /12/ % 94 6,235, ,000, ,235, ,000, /12/ /03/ /03/ % 91 6,085, ,000, ,085, ,000, /03/ /06/ /06/ % /06/ /09/ /09/ % /09/ /12/ /12/ % /12/ /03/ /03/ % /03/ /06/ /06/ % /06/ /09/ /09/ % /09/ /12/ /12/ % /12/ /03/ /03/ % /03/ /06/ /06/ % /06/ /09/ /09/ % /09/ /12/ /12/ % /12/ /03/ /03/ % /03/ /06/ /06/ % /06/ /09/ /09/ % /09/ /12/ /12/ % /12/ /03/ /03/ % /03/ /06/ /06/ % /06/ /09/ /09/ % /09/ /12/ /12/ % /12/ /03/ /03/ % /03/ /06/ /06/ % /06/ /09/ /09/ % /09/ /12/ /12/ % /12/ /03/ /03/ % /03/ /06/ /06/ % /06/ /09/ /09/ % /09/ /12/ /12/ % /12/ /03/ /03/ % /03/ /06/ /06/ % /06/ /09/ /09/ % /09/ /12/ /12/ % /12/ /03/ /03/ % /03/ /06/ /06/ % /06/ /09/ /09/ % /09/ /12/ /12/ % /12/ /03/ /03/ % /03/ /06/ /06/ % /06/ /09/ /09/ % /09/ /12/ /12/ % /12/ /03/ /03/ % /03/ /06/ /06/ % /06/ /09/ /09/ % /09/ /12/ /12/ %

5 Cordusio RMBS Securitisation S.r.l. - Series CLASS A2 NOTES (ISIN code IT ) Interest Period Interest Amount Accrued Before Payments Payments After Payments Start (included) End (excluded) Payment Date Coupon Days Interest Due Unpaid Interest Principal Interest Principal Unpaid Interest Principal 10/07/ /09/ /09/ % 81 13,490, ,892,000, ,490, ,892,000, /09/ /12/ /12/ % 91 16,815, ,892,000, ,815, ,892,000, /12/ /03/ /03/ % 91 18,470, ,892,000, ,470, ,892,000, /03/ /06/ /06/ % 91 19,388, ,892,000, ,388, ,892,000, /06/ /09/ /09/ % 91 20,584, ,892,000, ,584, ,892,000, /09/ /12/ /12/ % 94 24,039, ,892,000, ,039, ,892,000, /12/ /03/ /03/ % 91 23,458, ,892,000, ,458, ,498, ,836,501, /03/ /06/ /06/ % 91 22,598, ,836,501, ,598, ,492, ,754,008, /06/ /09/ /09/ % 92 22,838, ,754,008, ,838, ,322, ,673,685, /09/ /12/ /12/ % 92 22,592, ,673,685, ,592, ,651, ,586,034, /12/ /03/ /03/ % 90 12,343, ,586,034, ,343, ,425, ,516,609, /03/ /06/ /06/ % 91 6,406, ,516,609, ,406, ,674, ,441,935, /06/ /09/ /09/ % 92 4,643, ,441,935, ,643, ,784, ,373,150, /09/ /12/ /12/ % 92 3,084, ,373,150, ,084, ,238, ,309,912, /12/ /03/ /03/ % 90 2,773, ,309,912, ,773, ,543, ,250,368, /03/ /06/ /06/ % 91 2,449, ,250,368, ,449, ,409, ,186,959, /06/ /09/ /09/ % 92 2,711, ,186,959, ,711, ,469, ,133,489, /09/ /12/ /12/ % 92 2,954, ,133,489, ,954, ,234, ,080,254, /12/ /03/ /03/ % 90 3,113, ,080,254, ,113, ,590, ,026,664, /03/ /06/ /06/ % 91 3,526, ,026,664, ,526, ,381, ,282, /06/ /09/ /09/ % 92 4,160, ,282, ,160, ,918, ,363, /09/ /12/ /12/ % 91 3,939, ,363, ,939, ,916, ,447, /12/ /03/ /03/ % 91 3,394, ,447, ,394, ,899, ,547, /03/ /06/ /06/ % 91 1,957, ,547, ,957, ,517, ,029, /06/ /09/ /09/ % 91 1,593, ,029, ,593, ,692, ,337, /09/ /12/ /12/ % , ,337, , ,631, ,706, /12/ /03/ /03/ % , ,706, , ,078, ,627, /03/ /06/ /06/ % , ,627, , ,419, ,208, /06/ /09/ /09/ % , ,208, , ,752, ,456, /09/ /12/ /12/ % , ,456, , ,707, ,748, /12/ /03/ /03/ % , ,748, , ,108, ,639, /03/ /06/ /06/ % , ,639, , ,482, ,156, /06/ /09/ /09/ % , ,156, , ,940, ,215, /09/ /12/ /12/ % , ,215, , ,253, ,962, /12/ /03/ /03/ % , ,962, , ,779, ,182, /03/ /06/ /06/ % , ,182, , ,384, ,798, /06/ /09/ /09/ % , ,798, , ,450, ,347, /09/ /12/ /12/ % 92 95, ,347, , ,868, ,478, /12/ /03/ /03/ % 91 7, ,478, , ,006, ,472, /03/ /06/ /06/ % ,472, ,344, ,127, /06/ /09/ /09/ % ,127, ,560, ,566, /09/ /12/ /12/ % ,566, ,485, ,081, /12/ /03/ /03/ % ,081, ,003, ,078, /03/ /06/ /06/ % ,078, ,392, ,685, /06/ /09/ /09/ % ,685, ,547, ,137, /09/ /12/ /12/ % ,137, ,864, ,273, /12/ /03/ /03/ % ,273, ,482, ,790, /03/ /06/ /06/ % ,790, ,011, ,779, /06/ /09/ /09/ % ,779, ,035, ,743, /09/ /12/ /12/ % ,743, ,453, ,290,292.80

6 Cordusio RMBS Securitisation S.r.l. - Series CLASS B NOTES (ISIN code IT ) Interest Period Interest Amount Accrued Before Payments Payments After Payments Start (included) End (excluded) Payment Date Coupon Days Interest Due Unpaid Interest Principal Interest Principal Unpaid Interest Principal 10/07/ /09/ /09/ % , ,700, , ,700, /09/ /12/ /12/ % , ,700, , ,700, /12/ /03/ /03/ % , ,700, , ,700, /03/ /06/ /06/ % , ,700, , ,700, /06/ /09/ /09/ % , ,700, , ,700, /09/ /12/ /12/ % , ,700, , ,700, /12/ /03/ /03/ % , ,700, , ,700, /03/ /06/ /06/ % , ,700, , ,700, /06/ /09/ /09/ % , ,700, , ,700, /09/ /12/ /12/ % , ,700, , ,700, /12/ /03/ /03/ % , ,700, , ,700, /03/ /06/ /06/ % , ,700, , ,700, /06/ /09/ /09/ % , ,700, , ,700, /09/ /12/ /12/ % , ,700, , ,700, /12/ /03/ /03/ % , ,700, , ,700, /03/ /06/ /06/ % 91 99, ,700, , ,700, /06/ /09/ /09/ % , ,700, , ,700, /09/ /12/ /12/ % , ,700, , ,700, /12/ /03/ /03/ % , ,700, , ,700, /03/ /06/ /06/ % , ,700, , ,700, /06/ /09/ /09/ % , ,700, , ,700, /09/ /12/ /12/ % , ,700, , ,700, /12/ /03/ /03/ % , ,700, , ,700, /03/ /06/ /06/ % , ,700, , ,700, /06/ /09/ /09/ % , ,700, , ,700, /09/ /12/ /12/ % 94 53, ,700, , ,700, /12/ /03/ /03/ % 87 45, ,700, , ,700, /03/ /06/ /06/ % 92 51, ,700, , ,700, /06/ /09/ /09/ % 94 53, ,700, , ,700, /09/ /12/ /12/ % 92 52, ,700, , ,700, /12/ /03/ /03/ % 90 59, ,700, , ,700, /03/ /06/ /06/ % 91 62, ,700, , ,700, /06/ /09/ /09/ % 92 51, ,700, , ,700, /09/ /12/ /12/ % 92 36, ,700, , ,700, /12/ /03/ /03/ % 90 35, ,700, , ,700, /03/ /06/ /06/ % 91 28, ,700, , ,700, /06/ /09/ /09/ % 92 25, ,700, , ,700, /09/ /12/ /12/ % 92 22, ,700, , ,700, /12/ /03/ /03/ % 91 11, ,700, , ,700, /03/ /06/ /06/ % ,700, ,700, /06/ /09/ /09/ % ,700, ,700, /09/ /12/ /12/ % ,700, ,700, /12/ /03/ /03/ % ,700, ,700, /03/ /06/ /06/ % ,700, ,700, /06/ /09/ /09/ % ,700, ,700, /09/ /12/ /12/ % ,700, ,700, /12/ /03/ /03/ % ,700, ,700, /03/ /06/ /06/ % ,700, ,700, /06/ /09/ /09/ % ,700, ,700, /09/ /12/ /12/ % ,700, ,700,000.00

7 Cordusio RMBS Securitisation S.r.l. - Series CLASS C NOTES (ISIN code IT ) Interest Period Interest Amount Accrued Before Payments Payments After Payments Start (included) End (excluded) Payment Date Coupon Days Interest Due Unpaid Interest Principal Interest Principal Unpaid Interest Principal 10/07/ /09/ /09/ % , ,000, , ,000, /09/ /12/ /12/ % , ,000, , ,000, /12/ /03/ /03/ % 91 1,073, ,000, ,073, ,000, /03/ /06/ /06/ % 91 1,119, ,000, ,119, ,000, /06/ /09/ /09/ % 91 1,180, ,000, ,180, ,000, /09/ /12/ /12/ % 94 1,360, ,000, ,360, ,000, /12/ /03/ /03/ % 91 1,326, ,000, ,326, ,000, /03/ /06/ /06/ % 91 1,317, ,000, ,317, ,000, /06/ /09/ /09/ % 92 1,387, ,000, ,387, ,000, /09/ /12/ /12/ % 92 1,433, ,000, ,433, ,000, /12/ /03/ /03/ % , ,000, , ,000, /03/ /06/ /06/ % , ,000, , ,000, /06/ /09/ /09/ % , ,000, , ,000, /09/ /12/ /12/ % , ,000, , ,000, /12/ /03/ /03/ % , ,000, , ,000, /03/ /06/ /06/ % , ,000, , ,000, /06/ /09/ /09/ % , ,000, , ,000, /09/ /12/ /12/ % , ,000, , ,000, /12/ /03/ /03/ % , ,000, , ,000, /03/ /06/ /06/ % , ,000, , ,000, /06/ /09/ /09/ % , ,000, , ,000, /09/ /12/ /12/ % , ,000, , ,000, /12/ /03/ /03/ % , ,000, , ,000, /03/ /06/ /06/ % , ,000, , ,000, /06/ /09/ /09/ % , ,000, , ,000, /09/ /12/ /12/ % , ,000, , ,000, /12/ /03/ /03/ % , ,000, , ,000, /03/ /06/ /06/ % , ,000, , ,000, /06/ /09/ /09/ % , ,000, , ,000, /09/ /12/ /12/ % , ,000, , ,000, /12/ /03/ /03/ % , ,000, , ,000, /03/ /06/ /06/ % , ,000, , ,000, /06/ /09/ /09/ % , ,000, , ,000, /09/ /12/ /12/ % , ,000, , ,000, /12/ /03/ /03/ % , ,000, , ,000, /03/ /06/ /06/ % , ,000, , ,000, /06/ /09/ /09/ % , ,000, , ,000, /09/ /12/ /12/ % , ,000, , ,000, /12/ /03/ /03/ % , ,000, , ,000, /03/ /06/ /06/ % , ,000, , ,000, /06/ /09/ /09/ % , ,000, , ,000, /09/ /12/ /12/ % 91 96, ,000, , ,000, /12/ /03/ /03/ % 91 92, ,000, , ,000, /03/ /06/ /06/ % 91 89, ,000, , ,000, /06/ /09/ /09/ % 91 89, ,000, , ,000, /09/ /12/ /12/ % 91 90, ,000, , ,000, /12/ /03/ /03/ % 90 89, ,000, , ,000, /03/ /06/ /06/ % 92 91, ,000, , ,000, /06/ /09/ /09/ % 91 91, ,000, , ,000, /09/ /12/ /12/ % 94 95, ,000, , ,000,000.00

8 Cordusio RMBS Securitisation S.r.l. - Series COLLECTIONS Collection Period (both dates included) Start End Principal Collected on Claims not Classified as Defaulted Claims (excluding prepayments) Interest Collected on Claims not Classified as Defaulted Claims Recoveries on Defaulted Claims Pre-payments on Claims not Classified as Defaulted Claims (principal) 01/05/ /08/ ,679, ,838, ,782, , ,122, /09/ /11/ ,060, ,986, ,607, , ,238, /12/ /02/ ,633, ,965, ,359, , ,570, /03/ /05/ ,696, ,181, ,018, , ,630, /06/ /08/ ,115, ,498, , ,732, , ,947, /09/ /11/ ,479, ,615, , ,948, , ,715, /12/ /02/ ,538, ,464, , ,455, , ,425, /03/ /05/ ,997, ,596, , ,238, , ,660, /06/ /08/ ,214, ,906, , ,332, , ,326, /09/ /11/ ,980, ,600, , ,241, , ,847, /12/ /02/ ,339, ,745, , ,014, , ,687, /03/ /05/ ,154, ,461, , ,196, , ,193, /06/ /08/ ,310, ,844, , ,533, , ,273, /09/ /11/ ,507, ,841, , ,962, , ,972, /12/ /02/ ,322, ,965, , ,033, , ,118, /03/ /05/ ,460, ,362, , ,596, , ,992, /06/ /08/ ,701, ,101, , ,813, , ,352, /09/ /11/ ,792, ,971, , ,672, , ,181, /12/ /02/ ,370, ,872, , ,814, , ,026, /03/ /05/ ,869, ,766, ,054, ,665, , ,468, /06/ /08/ ,122, ,995, , ,306, , ,442, /09/ /11/ ,511, ,882, , ,238, , ,509, /12/ /02/ ,341, ,230, , ,975, , ,560, /03/ /05/ ,577, ,026, , ,991, , ,223, /06/ /08/ ,971, ,984, , ,147, , ,628, /09/ /11/ ,998, ,161, , ,103, , ,238, /12/ /02/ ,034, ,771, , ,573, , ,933, /03/ /05/ ,864, ,614, , ,049, , ,163, /06/ /08/ ,442, ,358, , ,522, , ,033, /09/ /11/ ,773, ,144, , ,169, , ,020, /12/ /02/ ,281, ,983, , ,614, , ,719, /03/ /05/ ,706, ,867, , ,174, , ,237, /06/ /08/ ,014, ,676, , ,848, , ,463, /09/ /11/ ,862, ,338, , ,973, , ,967, /12/ /02/ ,290, ,084, , ,354, , ,590, /03/ /05/ ,157, ,885, ,293, ,438, , ,851, /06/ /08/ ,958, ,677, , ,628, , ,938, /09/ /11/ ,675, ,509, , ,029, , ,903, /12/ /02/ ,565, ,381, , ,228, , ,852, /03/ /05/ ,280, ,245, ,127, ,942, , ,636, /06/ /08/ ,925, ,081, ,316, ,256, , ,622, /09/ /11/ ,555, ,923, , ,045, , ,449, /12/ /02/ ,516, ,576, , ,489, , ,601, /03/ /05/ ,246, ,457, ,017, ,266, , ,016, /06/ /08/ ,824, ,351, ,306, ,292, , ,805, /09/ /11/ ,662, , ,418, ,647, , ,344, * 01/12/ /02/ ,766, ,116, , ,253, , ,069, ** 01/03/ /05/ ,479, ,079, , ,175, , ,694, *** 01/06/ /08/ ,153, , ,577, ,384, , ,128, **** 01/09/ /11/ ,386, , ,182, ,838, , ,342, ***** Other Total Collections * The Interest Collected on Claims not Classified as Defaulted Claims and the Recoveries on Defaulted Claims include a reduction of EUR 666, resulting from the recalculation of instalments interest previously paid by customers (starting from the date on which negative interest rates on indexing parameters are recorded), due to the change of the calculation method of interests. ** The Interest Collected on Claims not Classified as Defaulted Claims and the Recoveries on Defaulted Claims include a reduction of EUR 45, resulting from the recalculation of instalments interest previously paid by customers (starting from the date on which negative interest rates on indexing parameters are recorded), due to the change of the calculation method of interests. *** The Interest Collected on Claims not Classified as Defaulted Claims and the Recoveries on Defaulted Claims include a reduction of EUR resulting from the recalculation of instalments interest previously paid by customers (starting from the date on which negative interest rates on indexing parameters are recorded), due to the change of the calculation method of interests. **** Other includes amounts resulting from the recalculation of instalments interest previously paid by customers (starting from the date on which negative interest rates on indexing parameters are recorded), due to the change of the calculation method of interests. ***** The Interest Collected on Claims not Classified as Defaulted Claims and the Recoveries on Defaulted Claims include a reduction resulting from the recalculation of instalments interest previously paid by customers (starting from the date on which negative interest rates on indexing parameters are recorded), due to the change of the calculation method of interests.

9 Cordusio RMBS Securitisation S.r.l. - Series Issuer Available Funds Euro Euro TOTAL ISSUER INTEREST AVAILABLE FUNDS 2,168, TOTAL ISSUER PRINCIPAL AVAILABLE FUNDS 18,453, (a) Interest Components related to the Mortgage Loans received by the Issuer 2,117, (a) All Principal Components related to the Mortgage Loans received by the Issuer 18,225, (b) Without duplication of (a) above Interest Components invested in Eligible Investments - (b) Without duplication of (a) above Principal Components invested in Eligible Investments - (c) All net interest amounts on the Accounts received by the Issuer - (c) Any principal Deficiency Ledger Amount calculated at the Calculation Date 228, (d) All amounts received from the Swap Counterparty by the Issuer 50, (d) Funds Provisioned for Amortisation (up to the First Amortisation Interest Payment Date) (e) All amounts from any party to the Transaction Documents received by the Issuer - (e) Any proceeds deriving from the sale of Claims under the Transaction Documents (other than Defaulted Claims) - (f) All the Revenue Eligible Investments Amounts received by the Issuer - (f) Any amount credited and/or retained on each IPD under items (xiii) and (xv) of the (g) All other amounts standing to credit of the Collection Account and the Payments Account Pre-Enforcement Interest Priority of Payment - (excuding any Principal Available Funds) - (g) Any other amount received from the Originator under the Warranty and Indemnity Agreement - (h) Cash Reserve Excess available after repayment of the Subordinated Loan - (i) On the Calculation Date immediately preceding the Calculation Date after the Final Redemption (i) Amount withdrawn from the Cash Reserve if items (i) to (x) of the Pre-Enforcement Date, any amounts standing to the credit of the Expenses Account - Interest Priority of Payments (excluding items (vii) and (ix)) are not paid - (j) On the Calculation Date immediately preceding the Maturity Date, the amount standing to the credit of the Cash Reserve Account at such date - TOTAL ISSUER AVAILABLE FUNDS 20,393, Euro

10 Cordusio RMBS Securitisation S.r.l. - Series Priority of Payments PRE-ENFORCEMENT INTEREST PRIORITY OF PAYMENT Euro PRE-ENFORCEMENT PRINCIPAL PRIORITY OF PAYMENT Euro TOTAL ISSUER INTEREST AVAILABLE FUNDS 2,168, TOTAL ISSUER PRINCIPAL AVAILABLE FUNDS 18,453, First Taxes due and payable by the Issuer (if Expenses Account is insufficient or if not paid by UCI) - First All amounts under items (i) to (x) (excluding items (vii) and (ix)) of the Pre-Enforcement Interest Priority of Payments, to the extent not paid under the Pre-enforcement IPP - Second Issuer/RoN expenses a) Corporate fees, expenses of Issuer 85, Second Class A1 Principal: b) Fees, taxes, expenses and costs due for the listing, deposit or ratings of the Notes (a) Up to the First Amoritisation Interest Payment Date to credit the Principal Account - c) Fees, expenses to be paid to the RoN 2, (b) Thereafter to pay Class A1 Principal - d) Amount necessary to replenish the Expenses Account up to Retention Amount 2, Third Class A2 Principal 18,453, Third Third Party Fees and Expenses: a) Paying Agent and Listing Agent fees and expenses - Fourth Class B Principal - b) Agent Bank and Principal Paying Agent fees and expenses 21, c) Computation Agent fees and expenses 2, Fifth Class C Principal - d) Services fees and expenses 512, e) Corporate Servicer fees and expenses 12, Sixth Principal on the Subordinated Loan - f) Stichting Corporate Services Provider fees and expenses - g) Account Bank fees and expenses - Seventh Junior Notes Principal until the balance of the Junior Notes is 30, h) Custodian fees and expenses - Eighth Junior Notes Principal starting from the Final Redemption Date until the balance of the Junior Notes is zero - Fourth Amounts due to the Swap Counterparty 374, Nineth Junior Notes Additional Remuneration - Fifth Instalment Premiums payable to the Originator 3, Sixth Interest on Class A Notes Interest on Class A1 Notes - Interest on Class A2 Notes - Seventh Class A PDL reduction to zero - Eighth Interest on Class B Notes (if Class B Trigger Event has not occurred) - Ninth Class B PDL reduction to zero - Tenth Interest on Class C Notes if Class C Trigger Event has not occurred 95, Eleventh Cash Reserve Account replenishment till target amount (if any Rated Notes o/s) - Twelfth Reduction of Class C PDL to zero - Thirteenth Credit and/or retain the remainder of the Interest Available Funds to the Principal Account if Junior Notes Trigger Event has occurred (if any Rated Notes o/s) - Fourteenth Reduction of Junior Notes PDL to zero 228, Fifteenth Credit or retain an amount equal to the Principal Available Funds utilized under item (i) of the Pre-Enforcement Principal Priority of Payments - Sixteenth Any Swap termination payments - Seventeeth Any amounts due to: a) UCI under the terms of the Transfer Agreement - b) the Servicer of any Servicer's Arbitration Advance under the Servicing Agreement - Eighteenth Interest on the Subordinated Loan - Nineteenth Principal on the Subordinated Loan - Twentieth Any amounts due to UCI: a) in connection with a limited recourse loan under the terms of the Letter of Undertaking - b) under the terms of the Warranty and Indemnity Agreement - Twenty-first Other Issuer Creditor amounts - Twenty-second Interest on the Junior Notes (other than in (xxiii) below) 46, Twenty-third Junior Notes Additional Interest Amount 778, Interest amount available after the payment of interest on the Class C Notes 1,053,299.41

11 Cordusio RMBS Securitisation S.r.l. - Series CASH FLOW ALLOCATION POST-ENFORCEMENT PRIORITY OF PAYMENT TOTAL ISSUER INTEREST AVAILABLE FUNDS Euro not applicable First Taxes due and payable by the Issuer (if Expenses Account is insufficient or if not paid by UCB) not applicable Second Third Issuer/RoN expenses: a) Corporate fees, expenses of Issuer not applicable b) Fees, taxes, expenses and costs due for the listing, deposit or ratings of the Notes not applicable c) Fees, expenses to be paid to the RoN not applicable Third Party Fees and Expenses: a) Paying Agent fees and expenses not applicable b) Agent Bank fees and expenses not applicable c) Computation Agent fees and expenses not applicable d) Services fees and expenses not applicable e) Corporate Servicer fees and expenses not applicable f) Corporate Services Provider fees and expenses not applicable g) Account Bank fees and expenses not applicable h) Custodian fees and expenses Fourth Amount due to the Swap Counterparty not applicable Fifth Instalment Premiums payable to the Originator not applicable Sixth Interest on Class A Notes: Interest on Class A1 Notes Interest on Class A2 Notes not applicable not applicable Seventh Class A Principal not applicable Eighth Interest on Class B Notes not applicable Ninth Class B Principal not applicable Tenth Interest on Class C Notes not applicable Eleventh Class C Principal not applicable Twelfth Any Swap termination payments not applicable Thirteenth Any amounts due to the UCB a) in respect of the Originator's Claims under the Transfer Agreement not applicable b) in respect of the Servicer's Arbitration Advance under the Servicing Agreement not applicable Fourteenth Interest on the Subordinated Loan not applicable Fifteenth Principal on the Subordinated Loan not applicable Sixteenth Any amounts due to UCB: a) in connection with a limited recourse loan under the Letter of Undertaking not applicable b) under the terms of the Warranty and Indemnity Agreement not applicable Seventeeth Interest on the Junior Notes not applicable Eighteenth Principal on the Junior Notes not applicable Nineteenth Junior Notes Additional Interest not applicable

12 Cordusio RMBS Securitisation S.r.l. - Series PORTFOLIO PERFORMANCE PRINCIPAL DEFICIENCY LEDGER PDL at start Amount debited to the PDL Amount credited to the PDL PDL at end Class A Notes Class B Notes Class C Notes Class Junior Notes - 228, , ARREAR CLAIMS Description Number of Amount % over the Portfolio Amount from 0 to 29 days 98 2,070, % from 30 days to 59 days 46 1,088, % from 60 days to 89 days , % from 90 days to 119 days , % from 120 days to 149 days , % from 150 days to 179 days , % from 180 days to 209 days , % from 210 days to 239 days 6 197, % from 240 days to 269 days 2 100, % from 270 days to 299 days 4 315, % from 300 days to 329 days 1 8, % from 330 days to 359 days 1 8, % above 360 days % Total 257 6,162, % Amount of Claims in Arrears for more Initial Portfolio Amount (b) * > 90 Day Arrear Claims ratio (c) = (a)/(b) than 90 days (a) 2,136, ,544,388, % DEFAULTED CLAIMS Cumulative Amount of Defaulted Claims Initial Portfolio Amount (b) * Cumulative Defaulted Claims Ratio (c) = (a) (a)/(b) 60,174, ,544,388, % Junior Notes Trigger Event if (c) >=7% NOT OCCURRED Class C Notes Trigger Event if (c) >=8.5% NOT OCCURRED Class B Notes Trigger Event if (c) >=11% NOT OCCURRED PRE-PAYMENT Portfolio Amount at start of Total Prepayments during previous Collection Period 3 Month CPR previous Collection Period 2,838, ,333, % Life CPR 6.21% CASH RESERVE Balance at Start of Collection Period Amounts paid in accordance with the Priority Amounts received in accordance with the Balance at end of Interest Payment Date of Payments Priority of Payments 2,544, ,544, Cash Reserve Release if: Check < 50% of Initial Balance of Notes Yes PDLs are equal to 0 Yes Cash Reserve not less than Target Cash Reserve Amount Yes Cumulative Defaulted Claims ratio <2.5% Yes > 90 Days Arrear Claims ratio < 5% Yes * The information refers to the outstanding balance of the portfolio as of the 30/04/2006

13 Cordusio RMBS Securitisation S.r.l. - Series PORTFOLIO DESCRIPTION a. General Information about the Portfolio (1) At the end of the current Collection Period At the end of the previous Collection Period 1 a.1 : 10,158 11,205 2 a.2 Oustanding Portfolio Amount: 225,880, ,333, a.3 Average Potfolio Amount: 22, , a.4 Weighted Average Seasoning (months): a.5 Weighted Average Current LTV: 40.55% 41.88% 6 a.6 Weighted Average Remaining Term (months): At the end of the current Collection Period b. amount 1 b.1 from 0 (included) to (excluded) Euro 3, % 11,317, % 4, % 15,265, % 2 b.2 from (included) to (excluded) Euro 2, % 45,931, % 2, % 44,651, % 3 b.3 from (included) to (excluded) Euro 3, % 123,734, % 3, % 131,734, % 4 b.4 from (included) to (excluded) Euro % 34,684, % % 40,291, % 5 b.5 from (included) to (excluded) Euro % 6,988, % % 8,137, % 6 b.6 from (included) to (excluded) Euro % 2,854, % % 3,877, % 7 b.7 from (included) to (excluded) Euro % 369, % % 376, % 8 b.8 from (included) to (excluded) Euro % % % % 9 b.9 over (included) Euro % % % % 10 b.10 Total 10, % 225,880, % 11, % 244,333, % At the end of the current Collection Period c. Portfolio Seasoning (2) 1 c.1 from 18 (included) to 24 (excluded) months % % 2 c.2 from 24 (included) to 48 (excluded) months % % 3 c.3 from 48 (included) to 72 (excluded) months % % 4 c.4 from 72 (included) to 96 (excluded) months % % 5 c.5 from 96 (included) to 108 (excluded) months % % 6 c.6 from 108 (included) to 120 (excluded) months % % 7 c.7 from 120 (included) to 150 (excluded) months % % 8 c.8 from 150 (included) to 180 (excluded) months 6, ,262, , % 190,659, % 9 c.9 over 180 (included) months 3, ,618, , % 53,674, % 10 c.10 Total 10, % 225,880, % 11, % 244,333, % At the end of the current Collection Period d. Current LTV Ratio 1 d.1 from 0% (included) to 10% (excluded) 4, % 26,430, % 4, % 30,986, % 2 d.2 from 10% (included) to 20% (excluded) 2, % 75,069, % 2, % 72,241, % 3 d.3 from 20% (included) to 30% (excluded) 3, % 109,482, % 3, % 122,652, % 4 d.4 from 30% (included) to 40% (excluded) % 10,922, % % 13,650, % 5 d.5 from 40% (included) to 50% (excluded) % 2,385, % % 2,815, % 6 d.6 from 50% (included) to 60% (excluded) % 373, % % 554, % 7 d.7 from 60% (included) to 70% (excluded) % 105, % % 186, % 8 d.8 from 70% (included) to 80% (excluded) % 147, % % 230, % d.9 over 80% (included) % 963, % % 1,015, % 9 d.10 Total 10, % 225,880, % 11, % 244,333, %

14 At the end of the current Collection Period e. Remaining Term (3) 1 e.1 from 0 (included) to 12 months (excluded) 3, % 10,092, % 3, % 11,146, % 2 e.2 from 12 (included) to 24 months (excluded) % 1,186, % % 6,024, % 3 e.3 from 24 (included) to 48 months (excluded) % 20,696, % % 11,671, % 4 e.4 from 48 (included) to 72 months (excluded) 4, % 154,584, % 4, % 145,809, % 5 e.5 from 72 (included) to 96 months (excluded) % 18,863, % 1, % 42,501, % 6 e.6 from 96 (included) to 120 months (excluded) % 20,363, % % 27,086, % 7 e.7 from 120 (included) to 160 months (excluded) % % % % 8 e.8 from 160 (included) to 200 months (excluded) % 93, % % 95, % 9 e.9 over 200 (included) months % % % % 10 e.10 Total 10, % 225,880, % 11, % 244,333, % At the end of the current Collection Period f. By Region of Originating Branch (4) 1 f.1 Abruzzo % 2,716, % % 3,010, % 2 f.2 Basilicata % 269, % % 290, % 3 f.3 Calabria % 943, % % 1,111, % 4 f.4 Campania % 8,839, % % 9,580, % 5 f.5 Emilia - Romagna 1, % 26,609, % 1, % 28,876, % 6 f.6 Friuli-Venezia Giulia % 9,594, % % 10,347, % 7 f.7 Lazio 1, % 25,812, % 1, % 27,819, % 8 f.8 Liguria % 4,548, % % 4,888, % 9 f.9 Lombardia 1, % 49,198, % 1, % 52,759, % 10 f.10 Marche % 5,959, % % 6,395, % 11 f.11 Molise % 237, % % 298, % 12 f.12 Piemonte 1, % 29,208, % 1, % 31,745, % 13 f.13 Puglia % 6,771, % % 7,385, % 14 f.14 Sardegna % 2,373, % % 2,570, % 15 f.15 Sicilia % 6,193, % % 6,761, % 16 f.16 Toscana % 12,336, % % 13,309, % 17 f.17 Trentino - Alto Adige % 2,302, % % 2,534, % 18 f.18 Umbria % 1,124, % % 1,208, % 19 f.19 Valle d'aosta % 378, % % 405, % 20 f.20 Veneto 1, % 30,463, % 1, % 33,035, % 21 f.4 Total 10, % 225,880, % 11, % 244,333, %

15 At the end of the current Collection Period g. Payment Frequency 1 g.1 Monthly 10, % 223,029, % 11, % 241,191, % 2 g.2 Quarterly % 2,851, % % 3,142, % 3 g.3 Total 10, % 225,880, % 11, % 244,333, % At the end of the current Collection Period h. Payment Methodology 1 h.1 Direct Debit 9, % 203,711, % 10, % 220,398, % 2 h.2 R.I.D % 17,978, % % 19,157, % 3 h.3 Cash % 4,175, % % 4,761, % 4 h.4 Other % 14, % % 16, % 5 h.5 Total 10, % 225,880, % 11, % 244,333, % At the end of the current Collection Period i. Type of Interest 1 i.1 Fixed 1, % 25,525, % 1, % 27,646, % 2 i.2 Floating 8, % 181,814, % 8, % 196,551, % 3 i.3 Optional currently Fixed (5) % 6,084, % % 6,768, % 4 i.4 Optional currently Floating (5) % 12,456, % % 13,367, % 5 i.5 Total 10, % 225,880, % 11, % 244,333, % At the end of the current Collection Period l. Interest Rate (Fixed and Optional currently Fixed) (5) 1 l.1 0% (included) - 3% (excluded) % 6,776, % % 7,321, % 2 l.2 3% (included) - 4% (excluded) % 288, % % 413, % 3 l.3 4% (included) - 5% (excluded) % 969, % % 1,052, % 4 l.4 5% (included) - 6% (excluded) % 9,931, % % 10,973, % 5 l.5 >=6% % 13,644, % % 14,653, % 6 l.6 Total 1, % 31,610, % 1, % 34,414, % At the end of the current Collection Period m. Spread (Floating and Optional currently Floating) (5) 1 m.1 0% (included) - 1% (excluded) % % % % 2 m.2 1% (included) % (excluded) 3, % 73,293, % 3, % 79,826, % 3 m % (included) - 1.5% (excluded) 3, % 77,509, % 3, % 83,480, % 4 m.4 1.5% (included) % (excluded) 1, % 31,478, % 1, % 33,798, % 5 m % (included) - 2% (excluded) % 10,793, % % 11,422, % 6 m.6 >=2% % 1,194, % % 1,391, % 7 m.7 Total 8, % 194,270, % 9, % 209,919, % (1) The information refers to the mortgages not classified as default as at the end of the collection period (2) The seasoning is calculated taking into consideration the difference between the date representing the end of the collection period and the origination date ("data di stipula") (3) Calculated as the difference between the maturity date and the date representing the end of the collection period (4) The information refers to the Region where the branch originating the loan is located (5) The nature of the optional loan (currently fixed or floating) is monitored as at the end of the collection period