Investors have a new way to track the performance of mortgages and home equity loans backing non-agency mortgage-backed securities (MBS). Asset-backed securities surveillance data provider Lewtan Technologies today unveiled the beta version ABSNet Loan, with an official release scheduled in June. The new product provides up-to-date key performance metrics and predictive variables of the loans backing certain MBS. “Obviously, the continued deterioration of loans backing non-agency securitized pools necessitates a loan by loan review of credit risk,” says Lewtan’s spokesperson Ned Myers in a press release today. “Coupled with the lack of consistent, normalized, timely, and transparent data otherwise available in the market, ABSNet Loan became a logical extension to Lewtan’s market-leading surveillance data and analysis tools.” “We have found that investors have taken greater ownership of the credit analysis of their holdings in this credit downturn,” Myers adds. The new offering provides investors with an in-depth look at the potential of each loan involved and aims to help investors make informed decisions and track investments more closely than before through Lewtan’s platform. Users either download the product directly or use a Web-based interface for broad accessibility of the data. Write to Diana Golobay.
Most Popular Articles
The National Association of Realtors board of directors voted 729-70 on Monday to ban the controversial practice of “pocket listings.”
This week, the average U.S. fixed rate for a 30-year mortgage rose to 3.75%. That’s 6 basis points above last week’s 3.69% but still more than a percentage point below the 4.94% of the year-earlier week, according to the Freddie Mac Primary Mortgage Market Survey.