Aspire Launches New Asset-Level Disclosure Module to Democratize Access to US Public Securitization Data / by David Fry

SOURCE: Aspire Financial Technologies Inc.

FOR IMMEDIATE RELEASE

April 11, 2017 12:00 ET

Aspire Financial Technologies Announces New Asset-Level Disclosure (ALD) Data and Analytics Module, Allowing Users to Better Understand Consumer Credit Asset Pools for Public Securitizations

Toronto-based FinTech company announces a new Data & Analytics module for US Asset-Backed Securities participants dealing with the increased level of data disclosure on public securitizations. 

TORONTO, ON--(April 11, 2017) – Aspire Financial Technologies Inc. (“Aspire”), announced today the release of a new Asset-Level Disclosure module, the "ALD Explorer" that will provide free access to market participants looking to access and analyze loan-level characteristic and performance data for asset pools of US public securitizations. On an ongoing basis, issuers publish these files to the SEC’s Edgar website. They currently cover the asset verticals of auto-loans, auto-leases, and CMBS, but will soon expand to RMBS and other debt securities.   The module is part of Aspire’s more broadly focused Gateway TM platform, which enables users to seamlessly research, workflow, monitor, and forecast their consumer or SME loan risk exposure, across multiple use cases. 

“We are excited to release a product that democratizes access to this increasing level of important securitization asset data, and provide the technology and analytics tools necessary to evaluate it.  From Wall Street dealers, to ratings agencies to the multitude of investors in public securitizations, we’ve seen a desire to access and analyze this data, coupled with a lack of technology to effectively manage it’s growing volume.  The result has been an uneven response among participants, leaving those without the right mix of capabilities, scrambling for the right tools”, Aspire CEO David Fry said. 

The release of consumer credit ALD data publicly provides for unique opportunities.  For the first time, Aspire Gateway ABS ALD module gives participants the ability to stratify and compile performance views both within individual trusts and across trusts with similar asset pools on the same platform.  Aspire released the product with an initial focus on auto loan asset pools, and will be expanding coverage to other verticals with filings on the SEC website.  Aspire also makes available individual raw CSV files converted directly from the issuer postings on its platform.

“I think the regulatory impetus for this level of asset-level disclosure on public securitizations was a necessary response to some of the causes of the Global Financial Crisis of 2008.  All ABS market participants need to have a deeper understanding of the underlying securitization collateral beyond pool or rep-line level averages.  The new ABS ALD module facilitates this fundamental review, while at the same time, leveling the playing field for users to access and unlock value from this data”, David said.

Background

As a result of Reg AB II from the Dodd Frank Wall Street Reform and Consumer Protection Act, starting in 2017 certain public securitization issuers must post Asset Level Disclosure (loan-level characteristic and performance data) for loans in public securitization trusts on an ongoing monthly basis. These postings are made on the SEC Edgar site. Currently files exist for auto-loans, auto-leases, and CMBS, but will include other debt securities like RMBS.  Aspire is collecting and aggregating this voluminous data that is growing as current deals age and new deals come to market, cleaning the data, enhancing it with finance-specific fields, and displaying it in views that are insightful to market participants.

About Aspire

Aspire is a Toronto-based financial technology company focused on accessing, unlocking and empowering lending data through advanced data and technology solutions.  Led by Co-Founders David Fry and Mark Lecker, the Aspire team is comprised of highly skilled and experienced financial services experts and software engineering talent.  Aspire’s inaugural product, the Aspire Gateway platform, provides high-powered data, analytics, reporting and risk infrastructure to Originators, Investors and Banks, across a broad set of lending asset verticals.  Aspire’ new ALD module is available on the Aspire website and provides loan-level data analytics capabilities, and similarly aims to significantly reduce costs and increase the empowerment of lending data using a robust 21st century technology infrastructure.  The new ALD Explorer can be found here:  https://sandbox.aspirefintech.com/#/ald/securization-list/