First Non-Agency MBS Report Now Available, Based On Data from CoreLogic and Equifax
NEW YORK – October 5, 2010 – 1010data, providers of a leading hosted analytics and reporting platform for mortgage and asset-backed securities research and trading, and the American Securitization Forum announced today that they have partnered to produce a series of ASF Market Review digest reports which will offer aggregated statistics of data from some of the industry’s leading vendors. These reports will provide summary information on key segments of the mortgage-backed securities (MBS) market. The first report, which focuses on the non- agency MBS market, will utilize data provided by industry leaders CoreLogic and Equifax to offer key insights into the state of the non-agency MBS market, including segments such as subprime and Alt-A MBS.
“ASF Market Review has been designed initially as a series of reports to facilitate a deeper level of understanding of RMBS performance for market participants,” said Tom Deutsch, executive director of the ASF. “ASF has long been a vocal advocate for increased transparency in the securitization markets. In producing these reports with our partner, 1010data, we are providing critical technology and tools to bring together many data sources including Equifax and CoreLogic to disseminate valuable research to ASF members.”
“We have developed a close relationship with the ASF, and we fully support their goal of bringing increased transparency to the structured finance market,” said Greg Munves, vice president, 1010data. “Leveraging data from CoreLogic and Equifax, this report provides buyers and sellers of non-agency MBS with strong insight into the current performance of these securities. The Non-Agency MBS report is meant to provide a high-level overview of the state of the market and serve as a starting point for investors to begin their own deeper analysis.”
1010data has decades of Wall Street experience and understands the data management and analytical needs of the MBS market. The company offers solutions that make it easy to manage and digest unlimited volumes of data for a business-critical advantage.
“In the current economic climate, the demand for detailed information on loan portfolios is stronger than ever before,” said Damien Weldon, vice president, credit risk products and analytics, CoreLogic. “This partnership will provide critical transparency to our fellow ASF members.”
CoreLogic, and its industry-leading LoanPerformance loan-level RMBS database, combines public, contributory and proprietary data to develop predictive decision analytics and provide business services that bring dynamic insight and transparency to the MBS market. The company has built the largest U.S. real estate, mortgage application, fraud, and loan performance databases, and is a recognized leading provider of mortgage credit reporting, property tax, valuation, flood determination, and geospatial analytics and services.
Equifax (NYSE: EFX), a global leader in information solutions, provides the MBS market with a line of products that leverage the most up-to-date borrower credit and property value information with advanced analytics. A unique industry solution, Equifax’s ABS Credit Risk Insight DirectTM is used in the MBS research reports and offers leading indicators of loan performance such as updated credit scores and data on owner-occupancy, bankruptcies, delinquencies and all mortgage and home equity payments.
“This initiative highlights the demand for increased transparency into securities, including understanding the credit health of borrowers in the mortgage-backed securities market,” said Steve Albert, vice president, Equifax Capital Markets. “Working with an industry leader in the ASF, we can equip today’s investors with extensive visibility into changing borrower credit trends to enable them to track portfolio risk and better predict loan and deal performance. ”
In the future, the ASF and 1010data will partner with additional data providers to bring to members more reports on both agency and commercial mortgage-backed securities. The non- agency MBS report will be available at no cost starting in September, and will be updated twice a month on the ASF website at http://www.americansecuritization.com.
About the ASF
The American Securitization Forum is a broad-based professional forum through which participants in the U.S. securitization market advocate their common interests on important legal, regulatory and market practice issues. ASF members include over 330 firms, including issuers, investors, servicers, financial intermediaries, rating agencies, financial guarantors, legal and accounting firms, and other professional organizations involved in securitization transactions. The ASF also provides information, education and training on a range of securitization market issues and topics through industry conferences, seminars and similarinitiatives. For more information about ASF, its members and activities, please go to www.americansecuritization.com.