NIR Credit Partners, an alternative asset manager and advisor in structured finance and a division of NIR Group, announced the expansion of its portfolio valuation services for residential mortgage loans and MBS.
The recently launched service offers institutional investors a customized solution that includes in-depth analytics on illiquid mortgage-related loans and securities.
"Given the ongoing market turmoil, many institutional investors are searching for better independent tools to value these assets and related risk," said Joe Parish, co-founder of NIR Credit Partners. "Due to a high level of demand, we are expanding this service as part of our core capabilities,"
NIR Credit has developed a process for evaluating mortgage risk across a wide range of loans and securities, using loan-level data along with projected home price scenarios that can be made to reflect a client's economic and housing market views.
The analytic valuation tool is currently provided to institutional and alternative investors, including money managers, hedge funds, private equity groups, banks, insurance companies, and pension plans.
NIR Credit Partners is managed by co-founders and managing partners Parish and Scott Shannon who have been with the firm for four years. Prior to NIR Credit, Parish and Shannon founded and managed the asset securitization division in the structured products group at Wachovia Securities.