SHELTON, Conn., April 9, 2012 /PRNewswire/ -- Clayton Holdings LLC, a leading provider of due diligence, underwriting, surveillance and default servicing to the residential and commercial mortgage and fixed-income industries, announced today that it has been approved by DBRS as a third-party due diligence firm for residential mortgage-backed securities (RMBS) securitizations.
Based in New York, DBRS is a globally recognized provider of timely credit rating opinions that offer insight and transparency across a broad range of financial institutions, corporate entities, government bodies and various structured finance product groups. DBRS conducts a review process as part of its approval to assess the staffing, infrastructure and capabilities of due diligence firms prior to granting a firm official third-party status. The process also included an on-site operational risk review, which took place in Clayton's Tampa facility.
"Clayton is pleased to be one of the first third-party reviewers (TPR) to be vetted and approved by DBRS," explained Paul Bossidy, Clayton's chief executive officer. "When non-agency securitization returns on a broad scale, investors will expect significantly higher levels of transparency, and they will want to know that well-qualified due diligence firms followed well-established protocols in reviewing the quality of the assets backing the securities."
About Clayton Holdings LLC
Clayton Holdings LLC, headquartered in Shelton, Connecticut, provides information and services that financial institutions, investors and government entities use to evaluate, acquire, securitize, service and monitor loans and asset-backed securities. Clayton offerings include risk-based analytics, residential and commercial loan due diligence, consulting, surveillance, independent pricing, and staffing solutions. The company provides customized residential and commercial special servicing solutions through its Quantum Servicing subsidiary and REO management, BPOs and a short sale program through its Green River Capital subsidiary. Additional information is available at www.clayton.com.
SOURCE Clayton Holdings LLC