Clayton Holdings LLC has announced that it is offering a comprehensive securitization readiness solution for non-agency assets. The end-to-end offering includes advisory and preparedness support for pre-securitization due diligence review, originator and guideline assessment and ongoing monitoring structure and setup.
The solution is designed to help lenders and aggregators prepare for compliance with the new requirements and expectations for private label securitizations (PLS), and to assure that asset reviews and reporting capabilities will meet current guidelines prior to issuance. The solution includes a review of relevant scope and process requirements, including a rating agency-accepted assessment of credit underwriting, data management, regulatory compliance, valuation and potential fraud.
As an accepted third-party reviewer by all Nationally Recognized Statistical Rating Organizations (NRSROs) and the first company rated by Morningstar and Fitch as a deal agent and representation and warranty reviewer, Clayton is uniquely positioned to assist in the design and implementation of due diligence and ongoing oversight structures and controls sought by the NRSROs and the PLS investor community.
“Currently, a growing number of lenders and aggregators are actively considering entry into the private label securitization market or at least understanding their options,” said Jeff Tennyson, President of Clayton. “Our securitization readiness solution will help new issuers jumpstart the process and prior private label issuers be prepared for new requirements they will face. This offering is another example of how Radian and Clayton continue to offer innovative products and services to the mortgage industry.”
