English: SSB Boligkreditt was established in 2008, and is a fully owned subsidiary of Sandnes Sparebank. The company's main purpose is to secure long term funding for Sandnes Sparebank through issuance of covered bonds. Investors in covered bonds have preferential claim on the cover pool. The cover pool consists of secured mortgages issued by Sandnes Sparebank that meet certain criteria. One of the main criteria is that loan to value shall be below 75% of the collateral's market value. All collateral shall be Norwegian residential properties with quarterly review of market value by an independent third party. Cover bonds issued by SSB Boligkreditt are rated AAA by Scope Ratings . SSB Boligkreditt is committed to maintain a nominal over-collateralisation level of 8,5 %.
Vedtekter for SSB Boligkreditt AS.