Clayton Holdings said it supports a new universal loan identification code, known as ASF LINC, which was jointly developed by the American Securitization Forum (ASF) and Standard & Poor's Fixed Income Risk Management Services (FIRMS).
Clayton said that it would update its systems to accommodate the new 16-digit smart code by the end of 1Q10. The new code is designed to give investors greater information about the loans that are securitized in MBS and ABS transactions.
"The new code is an important step to providing the kind of transparency that will be needed to restart the non-agency securitization market," said Paul Bossidy, chief executive officer of Clayton Holdings. "It will give investors an important new tool to track and analyze underlying collateral, much the way CUSIP numbers are used with bonds. Clayton has been working closely with ASF and Project RESTART, and this new code is one of the first deliverables of that initiative."