Angelo Gordon & Co. Selects TransUnion as Data Provider for Borrower Level Analysis of Its RMBS Portfolio
CHICAGO, IL and NEW YORK, NY--(Marketwire - September 30, 2010) - Angelo Gordon & Co., a market leader in distressed asset management, including whole loans and residential mortgage-backed securities (RMBS), has selected TransUnion and its Consumer Risk Indicator product to provide greater insight into borrowers in their mortgage portfolios. The product, drawn from TransUnion's anonymized credit data, is based on industry-leading loan-level securities data from CoreLogic LoanPerformance.
"As the mortgage and housing sector shows signs of stabilization, it is imperative that the industry learn from history and understand the need for a transparent and up-to-date view inside every mortgage loan to actively manage and trade a RMBS portfolio," said Tim Martin, group vice president in TransUnion's Capital Markets business unit. "While the industry has long had information on the current performance of the specific mortgage in a security, we are now able to bring additional information on almost all other facets of a mortgage borrower's credit profile including how that borrower is performing on their 2nd mortgage, their auto loan, and their credit cards, all on an anonymous basis. This information can enable users to predict defaults long before the loan delinquency information that was available up to now. With this added transparency, portfolio managers and traders can better differentiate between securities and value bonds with greater accuracy."
With this new product offering, TransUnion provides up-to-date as well as historical credit information for the borrower of each loan backing a particular security on an anonymous basis, promoting greater transparency and enabling investors to make more informed decisions. The product has been demonstrated to allow significantly more accurate risk assessment than traditional methods that neglect to look at updated credit information. The data provided through the TransUnion Consumer Risk Indicator, while linked to individual loans, is anonymized.
"This type of borrower information represents a next step in loan level analysis and will provide a much deeper understanding of borrower credit than available before. After examination of the product, we find that TransUnion offers us a suite of best tools available in the business to achieve accurate and robust analysis in the residential MBS and ABS sectors. The combination of Angelo Gordon's proprietary analytics with TransUnion's Consumer-Risk Indicators will permit AG to deliver a best-in-class investment platform for our institutional and high net worth investors," said Yong Joe, Head of MBS/ABS Research for Angelo Gordon.
Now available through 1010data's service, the TransUnion Consumer Risk Indicators for RMBS data can also be provided via direct delivery from the company.
As a global leader in credit information and information management services, TransUnion creates economic and competitive advantages for businesses and consumers. For businesses, TransUnion helps improve efficiency, manage risk, reduce costs and increase revenue by delivering comprehensive solutions that leverage data, advanced analytics and decisioning technology. For consumers, TransUnion provides the tools, resources and education to help manage their credit health and achieve their financial goals. Through these and other efforts, TransUnion is working to build stronger economies worldwide. Founded in 1968 and headquartered in Chicago, TransUnion employs associates in more than 25 countries on five continents. www.transunion.com/business.
About Angelo Gordon & Co.
Angelo, Gordon & Co. is a privately-held registered investment advisor dedicated to alternative investing. The firm was founded in 1988 and currently manages approximately $23 billion. They seek to generate absolute returns with low volatility by exploiting inefficiencies in selected markets and capitalizing on situations that are not in the mainstream of investment opportunities. They creatively seek out new opportunities that allow us to remain a leader in alternative investments.
Angelo, Gordon leverages its expertise in credit research, value investing and trading to purchase distressed assets in the residential and consumer debt markets. Their residential and consumer debt team invests in RMBS and ABS securities up and down the capital structure (AAA through non-rated securities), with a focus on deep value, misunderstood and inefficiently priced securities. The team manages significant capital in special situations including the Term-Asset-Backed Lending Facility (TALF) and secured asset-based loans.
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