The new ABSNet European Cash Flows features a completely revamped interface that allows users to directly navigate between cash flows, pricing analytics, waterfall views, and cash-flow graphs. The system also enables users to model delinquencies, forecast excess spread rates, and solve for first loss--all critical aspects of assessing the robustness of a transaction against liquidity and default stresses.
"Beyond the fundamental need for timely and accurate cash flows, recent instability in the US subprime market, as well as concerns over reserve fund draws in some UK nonconforming RMBS transactions, have required investors to be more rigorous in their analytics," said Usman Ismail, executive vice president, business development, for Lewtan and its European ABSNet operations. "The sheer volume of new transactions in the market, in addition to the compression of the pre-issuance marketing period, makes doing so very difficult for investors, and this is one area in which ABSNet European Cash Flows is meeting a critical need."
"We use ABSNet European Cash Flows as a core part of our RMBS/ABS credit analysis," says James Cuby of Investec, an international specialist banking group that is an active participant in the structured-finance market. "Lewtan is quick to add new deals to ABSNet European Cash Flows, and that allows us to focus on analysing deals, rather than modelling them. We are very pleased with the accuracy of the models and the responsiveness of Lewtan's ABSNet support staff."
The ABSNet European Cash Flows library contains securities backed by RMBS, ABS, and CLO transactions from across all regions of Western and Central Europe. In addition, ABSNet European Cash Flows actively models pre-issuance transactions as they come to market.