Market & Benchmarks
The pricing spine. Every model price, LLPA par coupon, and securitization tranche coupon is spread off this curve — edit a point and the whole book reprices. Marks are desk-editable, not a live feed.
UST benchmark curve
Where programs price
par coupon = benchmark @ tenor + program spreadExport & handoff
pre-trade analytics out to your deal stackTape Intake
Generate a product-specific seller tape or upload your own CSV. Non-QM and RTL are built separately with their own programs and underwriting fields.
220 loans across DSCR, Bank Statement, Full Doc, Asset Qualifier, P&L, 1099, and Foreign National programs.
- DSCR
- Bank Statement
- Full Doc
- Asset Qualifier
- P&L
- 1099
- Foreign Nat'l
160 loans across Fix & Flip, Bridge, Ground-Up Construction, Multifamily Bridge, and Rental Portfolio.
- Fix & Flip
- Bridge
- Ground-Up
- MF Bridge
- Rental Portfolio
Or drop a seller tape (CSV)
headers auto-map to the canonical schema
Column mapping
QC & validation
Tape composition
UPB by programNo tape loaded
Generate a Non-QM or RTL tape from Tape Intake to populate the book.
Loan Book
Every loan carries a unique ID, product, and program. Click any loan for its full attribute set, LLPA rate-sheet build, and model value.
No tape loaded
Generate a tape to see the rate sheet applied to live loans.
LLPA Rate Sheet
The posted flow rate sheet: base price by program plus signed loan-level price adjustments. Positive points add to price, negative points are charges. This is what the desk pays sellers on flow.
FICO × LTV adjustment grid
points to priceAttribute adjustments
applied on top of the gridProgram loans priced off this sheet
No tape loaded
Generate a tape to see stratifications.
Stratification
Pool cut by credit, structure, program, and geography.
FICO distribution
UPB by bandLTV distribution
UPB by bandStratification tables
Top states
geo concentrationNo tape loaded
Generate a tape to score sellers.
Seller Scorecard
Delivery quality by originator. Seller Quality Index blends credit, exception rate, and pricing.
Seller Quality Index
0–100 · higher is cleaner deliveryNo tape loaded
Generate a tape to model securitization.
Securitization & Execution
Size the capital stack off the loss model, check deal-eligibility caps, and compare securitization all-in against the whole-loan bid.
Structuring assumptions
rating agency & deal inputs — everything below cascades into the stackTranche spreads (bp over benchmark — editable)
Cross-agency senior rating
what each agency grants at the current senior attachmentCapital structure
Execution bridge
% of UPBDeal-eligibility caps
No tape loaded
Generate a tape to build a bid.
Bid & Pool Construction
The bid derives from the best exit minus your carry, hedge, and required return. Non-QM and RTL are bid separately and blended.
Desk economics
Pool & bid
Bid bridge — exit to bid
Market-anchored cross-check
where comparable pools cleared — model vs marketNo tape loaded
Generate a tape to anchor the bid to recent market trades.
Trade Comps & Market Color
The engine prices to fundamental value; the desk bids to where comparable pools actually clear. This layer never touches pricing — it reads the finished pool and anchors a bid from recent whole-loan trades, rolled to today's curve and spread and adjusted for this pool's quality delta versus each comp. Model = fundamental value; comps = where it trades.
Market-anchored bid bridge
weighted comp winning bid, rolled to today, quality-adjustedNon-QM trade comps
RTL trade comps
No tape loaded
Generate a tape to see inventory and hedge risk.
Pipeline & Hedge
Inventory aging, interest-rate duration, and the hedge that neutralizes it from commitment to distribution.
Inventory aging
days on warehouseKey-rate duration
$ / bp by tenorRate-shock scenarios
portfolio mark under parallel shifts, net of TBA hedgeNo tape loaded
Generate a tape to run surveillance.
Surveillance & Putbacks
Simulated performance vs. model, plus the rep-and-warranty / early-payment-default repurchase ledger by seller.
Predicted vs realized CPR
Delinquency roll
% of pool by bucketRep & warranty / EPD repurchase ledger
Data Dictionary & Methodology
Every derived field on the desk and exactly how it is computed. Live tables below reflect the current curve, agency, and assumptions — this is the methodology of record, not a static glossary.