âOur decision to build ABSNet Loan came in response to overwhelming market demand,â said Ned Myers, chief marketing officer of Lewtan. âObviously, the continued deterioration of loans backing non-agency securitized pools necessitates a loan by loan review of credit risk. Coupled with the lack of consistent, normalized, timely, and transparent data otherwise available in the market, ABSNet Loan became a logical extension to Lewtanâs market-leading surveillance data and analysis tools. We have found that investors have taken greater ownership of the credit analysis of their holdings in this credit downturn. As a result, the additional transparency provided by ABSNet Loan is long overdue.â
ABSNet loan is available in two different forms: via a direct download or a flexible on-line web application. The information is updated in a timely fashion and undergoes rigorous data normalization and quality control checks. Since Lewtan augments publicly available data with proprietary data, a more comprehensive picture of potential exposure on each loan is possible.