Trepp Wins Coveted TALF Bid

The Federal Reserve Bank of New York on Tuesday selected New York City firm Trepp as a collateral manager on the Term Asset-Backed Securities Loan Facilitiy (TALF), a program designed to put billions of dollars into the hands of institutional investors to buy up new asset-backed securities within certain categories, in turn encouraging more lending and securitization, which regulators say will keep credit flowing. The commercial mortgage-backed securities (CMBS) and commercial real estate information provider will assist the NY Fed by providing valuation, modeling, analytics and reporting, as well as advising services. Trepp said it will not set policies on the Fed’s participation in the program or make decisions on accepting or rejecting a CMBS as collateral for a TALF loan. Instead, Trepp will use the analytics and forecasting services of its subcontractor and sister company, Property and Portfolio Research, to serve in an advising role. “This contract recognizes Trepp’s ability to provide in-depth information and analysis on CMBS,” said CEO Annemarie DiCola in a media statement. “As Collateral Monitor, we look forward to working closely with the Federal Reserve Bank of New York to facilitate the success of TALF.” Write to Diana Golobay.

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