Lewtan Technologies, a company that provides data and workflow services to the ABS industry, unveiled its latest analytics tool for the global securitization industry last Friday. The structuring assistant is software for those who wish to run analytical models of just about any type of ABS deals.
"With structuring assistant, we make the deal extremely transparent. They can play with the model, put in assumptions and get the numbers," said Usman Ismail, executive vice president of Lewtan. "It is a very simple paradigm, where one will say Ah ha, now I understand!' And since the structuring assistant can model a non-performing loan deal, it can model pretty much any deal one may think of."
Built-in intelligence features help make the tool user-friendly, Ismail added. For instance, if one is uncertain about how to use the system, the structuring assistant uses key words and drop-down boxes to "point you in the right direction," he said. Furthermore, models created with structuring assistant are documented and auditable, unlike similar services that use spreadsheets.
One analyst at a Europe-based investment bank, who uses spreadsheet-based ABS models, said the structuring assistant sounds good, but he questioned the timeliness of its unveiling. "It seems like it can be a big help, especially for our origination teams," he said, "[but] in the current ABS market in Europe, it can help us continue to do what we are doing, which is nothing."
Ismail added that users maintain complete control over both the definition and navigation of the waterfall. Structuring assistant can stress-test several types of deals, "including term, revolving and master trust transactions," said Lewtan Technologies.
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