SHELTON, Conn., July 13, 2015 /PRNewswire/ -- Clayton Holdings
LLC, a leading provider of loan due diligence and surveillance,
today announced that it has commenced providing an Asset
Representations Reviewer (ARR) service to help issuers of
asset-backed securities (ABS), including auto finance, credit card,
student loan and equipment-leasing issuers, comply with the
requirements of the Securities and Exchange Commission's amendments
to Regulation AB (Reg AB II.)
Under Reg AB II, all public ABS issuers will be required to
appoint an ARR for each transaction to review the assets for
representation and warranty compliance in the event that a certain
threshold of delinquencies is breached and if investors vote to
conduct a review. The ARR's name, qualifications and prescribed
role must be spelled out in the deal documents.
The new offering leverages Clayton's extensive knowledge of
underwriting, loan document review and surveillance, as well as the
company's proprietary technology. Clayton will provide consulting
services on testing procedure design, help clients specify the role
of the asset reviewer, and perform asset review pilot testing. As
needed by certain clients, Clayton will also perform the defined
testing procedures and will report results in accordance with the
approach set forth by Reg AB II.
"Our unparalleled experience in the highly-regulated
mortgage-backed securities sector market has prepared us to support
the compliance needs of the broader universe of ABS issuers," said
Joe D'Urso, President of Clayton. "The response to our
'soft-launch' of our ARR service has been extremely positive: to
date we have already been engaged by a number of leading issuers
across a number of ABS categories."
About Clayton Holdings LLC
Clayton Holdings LLC, a subsidiary of Radian Group Inc. (NYSE:
RDN), provides risk-based analytics, residential loan due
diligence, consulting, surveillance and staffing solutions. The
company also provides customized REO asset management and
single-family rental services through its Green River Capital
subsidiary; advanced AVMs, BPOs and technology solutions to monitor
loan portfolio performance, acquire and track NPLs, and value and
sell REO through its Red Bell Real Estate subsidiary; and a global
reach through its Clayton EuroRisk subsidiary. For more
information, call 877.291.5301 or visit www.clayton.com.
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SOURCE Clayton Holdings LLC