New Diligence Advisors becomes Fitch third-party reviewer

New company founded by former Clayton Holdings execs deemed acceptable TPR

Third-party review firm New Diligence Advisors announced on Monday it has been added to Fitch Ratings’ list of approved third-party reviewers.

The company, which was founded in early 2018, has previously been vetted and deemed acceptable by Kroll Bond Rating Agency and Morningstar Credit Ratings, according to the company. 

"We're pleased to be added to Fitch's list of acceptable TPRs, and look forward to working with them on their rated transactions in support of our clients' needs,” NDA Chief Operating Officer Mark Hughes said.

NDA began its operations in February after three former Clayton Holdings executives partnered up to launch the firm, which directly competes with Clayton for business.

The company’s principals include Hughes, Ann Gibbons, and Tom Donatacci, all of whom previously worked at Clayton at various times. The firm is backed by Selene Holdings, which is the parent company of Selene Finance, a special servicer for non-performing loans, re-performing loans, and REO.

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