Lewtan Technologies, provider of ABSNet, released a new product called ABSNet Loan.
The new offering provides performance metrics and predictive variables on the mortgages and home equity loans that back US non-agency MBS and home equity deals. Our decision to build ABSNet Loan came in response to overwhelming market demand, said Ned Myers, chief marketing officer at Lewtan. Obviously, the continued deterioration of loans backing non-agency securitized pools necessitates a loan by loan review of credit risk. Coupled with the lack of consistent, normalized, timely, and transparent data otherwise available in the market, ABSNet Loan became a logical extension to Lewtans market-leading surveillance data and analysis tools. We have found that investors have taken greater ownership of the credit analysis of their holdings in this credit downturn. As a result, the additional transparency provided by ABSNet Loan is long overdue.