Striking a rare note of optimism in the structured finance market, Clayton Holdings is starting up a securitization group to help the private market prepare for the return of non-agency RMBS, the consultancy said in a release.

The group will offer loan review and diligences for new issues and re-securitizations as well as consultative services to players looking to bring their practices into line with new rules.

Appointed as a managing director, Ron Castro will head up the group and report to Clayton Chief Executive Office Paul Bossidy. Castro, who previously headed up Clayton’s expansion in the U.K., will oversee a team of five, all of whom already work at the firm. Castro is been at Clayton 18 years.

“Based on our own observations and our ongoing dialogue with clients and other key players in the non-agency market, we believe the market is poised to return,” said Bossidy.

Clayton provides customized risk analysis, loss mitigation and operational solutions that support the mortgage and fixed income industries.

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