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dv01 Announces Working Partnership with Redwood Trust to Expand Data Transparency Reach in Residential Mortgage-Backed Securities MarketNEW YORK, March 25, 2021 /PRNewswire/ -- dv01, a leading capital markets fintech driving technological innovation and loan-level transparency in structured finance, today announced it has partnered with Redwood Trust, Inc. (NYSE: RWT), a leader in expanding access to housing for homebuyers and renters, to promote data transparency and accountability within the private label residential mortgage-backed securities ("RMBS") market. Through this partnership, dv01 will serve as Loan Data Agent ("LDA") for Redwood Trust's future Sequoia securitizations, including the recently completed SEMT 2021-1—a prime RMBS transaction backed by $527 million of Select jumbo loans. As LDA, dv01 will receive loan-level data directly from the underlying servicers and other transaction participants to cleanse, validate, standardize, and aggregate for monthly reporting. Qualified platform users will then have access to reliable data and fully integrated analytics tools to monitor the performance of these Sequoia securitizations, free of charge. dv01 will onboard approximately 40 historical Sequoia securitizations, with an aggregate notional value at issuance of $17.3 billion, to its platform for existing investors to easily access, bringing dv01's total analytics coverage to 61% of all non-agency prime jumbo RMBS deals issued since 2019. Sequoia transactions completed from January 1, 2018 to date, including SEMT 2021-1, are now available on the dv01 platform. "On the heels of our recent acquisition of Pragmic Technologies and expansion into auto ABS, this partnership is further evidence of dv01's continued growth and innovation," said Perry Rahbar, Founder and CEO at dv01. "By collaborating with Redwood Trust, an established leader in the non-agency RMBS sector, we hope to propel the industry toward a more efficient and transparent market, boosting investor confidence." In addition to dv01's Securitization Reporting offering, Redwood Trust will also leverage dv01's Tape Cracker and Portfolio Surveillance products to modernize the workflow in its Residential business. Tape Cracker is a data wrangling tool powered by machine learning that streamlines the entire loan evaluation process by normalizing data and offering built-in tools for analyzing loan tapes, and Portfolio Surveillance is an advanced analytics solution for managing and monitoring loan portfolios that empowers users to rapidly respond to the market, meet business needs, discover trends, and minimize risk. "Investing in technology to scale our business is a key strategic initiative at Redwood. Our partnership with dv01 marks another milestone on ur path to implementing innovative technologies that provide secure, automated workflows to Redwood and our stakeholders," said Fred Matera, Head of Residential at Redwood Trust. "Partnering with dv01 enables us to offer unparalleled market transparency into underlying loan performance within our existing Sequoia securitizations. With a reputation built on trust and reliability, we believe providing this level of visibility into our loan data will further advance Redwood's reputation as a trusted leader in the RMBS market." MEDIA CONTACT Redwood Trust NOTES TO EDITORS About dv01 dv01's Securitization Reporting offering has brought unparalleled transparency and intelligence by replacing antiquated manual processes and streamlining the reporting workflow. Fulfilling the role of loan data agent, dv01 receives loan-level data from issuers, servicers, and trustees for data cleansing, validation, and standardization. Investors are granted easy access to the normalized loan-level data along with fully integrated analytics and reporting tools via the dv01 web app, where users can review composition, analyze performance, and project collateral and tranche cashflows. dv01's Tape Cracker is an end-to-end cloud-based solution that mitigates and rectifies inaccuracies caused by inconsistent, faulty, or missing data within the data normalization process for loan tapes. Tape Cracker enables users to analyze strats, run calculations, and export data, ultimately eliminating the need to move between multiple platforms and allowing investors to spend less time cracking loan tapes and more time making investment decisions. dv01's Portfolio Surveillance solution converts data into fuel for strategic decision making by preparing all loan-level data and offering fully integrated analytics that deliver real results. Whether you are an issuer or investor, dv01 empowers you with a strong data-driven foundation that transforms your business and brings unparalleled transparency to all market participants. About Redwood Trust View original content:http://www.prnewswire.com/news-releases/dv01-announces-working-partnership-with-redwood-trust-to-expand-data-transparency-reach-in-residential-mortgage-backed-securities-market-301255865.html SOURCE dv01, Inc. |