PROGRESS 2023-1 TRUST — Investor Relations & Filings

PROGRESS 2023-1 TRUST is a special purpose vehicle established for the purpose of a residential mortgage-backed securities (RMBS) transaction. The trust is part of a securitization program typically associated with the mortgage lending activities of Westpac Banking Corporation. Its primary function involves the acquisition of a pool of residential mortgage loans and the issuance of debt securities to institutional investors. These securities are structured into multiple classes of notes with varying seniority and risk profiles, secured by the underlying mortgage assets and their associated cash flows. The trust facilitates capital market funding by converting illiquid mortgage assets into tradable debt instruments, utilizing credit enhancement mechanisms to support the credit ratings of the issued notes.