Clayton Holdings LLC, a provider of risk analysis, loss mitigation, operational solutions and staffing services, has announced its support for a new universal loan identification code, known as ASF LINC.
Jointly developed by The American Securitization Forum (ASF) and Standard & Poor's Fixed Income Risk Management Services (FIRMS), the code is designed to give investors greater information about the loans that are securitized in mortgage and asset-backed transactions.
Clayton said that it would update its systems to accommodate the new 16-digit, smart code by the end of the first quarter of 2010.
‘The new code is an important step to providing the kind of transparency that will be needed to restart the non-agency securitization market,’ says Paul Bossidy, CEO of Clayton Holdings. ‘It will give investors an important new tool to track and analyze underlying collateral, much the way CUSIP numbers are used with bonds."
The new loan identification system will enable residential mortgage-backed security investors to access loan-level data, regardless of when or where the assets were securitized, Clayton says.
SOURCE: Clayton Holdings LLC