Interactive Data Corporation, a provider of financial market data, analytics and related solutions, will offer a new evaluations service for U.S. whole loans (non-securitized residential mortgage loans). This service is expected to be available in the second quarter of this year.
The new evaluations service can help financial institutions with the valuation of whole loans, which are becoming increasingly more common in banks holdings. According to Federal Reserve data, commercial banks residential whole loan assets totalled $1.56 trillion as of January 12, 2011. Utilizing a combination of powerful computational processing and analytical expertise in providing evaluated pricing for a wide variety of fixed-income instruments, Interactive Data is building an innovative service to provide evaluated prices for residential whole loans based on observable inputs from the securities markets.
The new service, which will cover both performing and non-performing whole loans, complements the Companys current offerings related to securitized debt and other asset classes, which include: U.S. agency pass-through securities, agency and non-agency collateralized mortgage obligations, asset-backed securities, and commercial mortgage-backed securities. Interactive Data provides evaluations for an estimated 98 percent of outstanding U.S. structured securities.
Our new offering leverages Interactive Datas team of experienced evaluators with extensive knowledge of the whole loan market, along with an advanced parallel processing platform, said Liz Duggan, managing director, Global Evaluations for Interactive Data. As with many of our initiatives, this effort was driven directly by our clients demand for a unique service to address a growing asset class where there is currently limited or no independent evaluations coverage.
Interactive Data is a leading provider of award winning* independent evaluated pricing services, delivering daily evaluations for more than 2.8 million fixed income and international equity issues. The Companys evaluations coverage spans a broad range of instruments and represents approximately 100 countries and 30 different currencies. Over 5,000 financial institutions worldwide, from central banks to large investment banks, subscribe to Interactive Datas evaluated prices to support pricing activities, research and portfolio management.
In 2010, Interactive Data was named Best Third-Party Valuation Provider in the Credit Awards Americas 2010. Interactive Data also won an award for the second consecutive year as Best Evaluated Prices Services Provider from Inside Market Data and Inside Reference Data.
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