Bond-Pricing Solution Evaluates Distressed Securities
First American CoreLogic, property and ownership information provider subsidiary of The First American Corp. (FAF), unveiled its new bond pricing and analytics platform for non-agency residential mortgage-backed securities (RMBS). The offering aims to accurately predict loan-level behavior, which will lead to more precise bond-level cashflows, according to a statement. It generates bond-pricing reports, which includes principal loss projections, credit enhancement loss coverage ratios, implied ratings and bond prices driven by user-defined or market-based spreads. CoreLogic said hedge funds, private equity investors and asset managers can use the the bond-valuation solution to evaluate distressed securities, filter bid lists, assess private transactions and price mutual funds. The offering can also provide enhanced asset evaluation and surveillance, mark-to-model analysis, loss provisioning and stress test evaluation to bank portfolio managers, corporate treasurers, insurance investment managers and government regulators. Write to Diana Golobay.