Lewtan Technologies, a provider of ABS surveillance, analytics, and content, just introduced Recon, which is a set of data-management and transaction-reconciliation services for mitigating issuer risk in the new era of Regulation AB. Recon was specifically designed to appeal to issuers with multiple servicing systems and/or master and subservicer relationships. The services are actually a real boost to organizations with existing data-integrity issues or operational voids created in the transition to Reg AB. Aside from compliance, Recon helps issuers aggregate performance data to use in showcasing offerings to investors.
"In the new world of Reg AB, issuers face increased liability for the material accuracy of their securitized-transaction data--including a great deal of data that they don't originate or control themselves," said Paul Arvidson, vice president, Lewtan. "The situation is further complicated by disagreements about how Item 1122 servicer attestation should be carried out. Leveraging decades of experience and its unrivaled data warehouse, Lewtan created Recon to help issuers comply with regulations, mitigate risk, and illustrate past performance with historical data."