The portfolio for Harbour No.2 PLC contains £366 million first-lien residential mortgage loans located in the U.K. The portfolio is a refinancing of Harbour No.1 PLC which we rate and contains three distinct subpools: MORAG, serviced by Topaz Finance Ltd., accounts for 29% of the portfolio; WALL, serviced by Intrum Mortgages UK Finance Ltd., accounts for 31%; and MAQ, serviced by Pepper (UK) Ltd., accounts for 40%. The pool comprises 5.9% buy-to-let (BTL) loans and 94.1% owner-occupied properties. The portfolio has been originated by 18 different originators with a concentration no greater than 30%, but predominantly focused on GE Money Ltd., Future Mortgages Ltd., Amber Homeloans Ltd., and GMAC. The originators associated with each subpool can be seen in Table