Online lending data platform dv01 has partnered with GoodLeap, a point-of-sale platform for sustainable home solutions, to enable greater data transparency within the solar asset-backed securities (ABS) market, according to a release.
dv01 will be serving as Loan Data Agent (LDA) for Carbon Level Mitigation Trust (CLMTE) pass-through certificates in the residential solar and sustainable home solutions space.
dvo1 states that the shelf currently comprises CLMTE 2021-1 and CLMTE 2021-2 and has an aggregate notional value of $53.6 million at issuance across 1,252 residential solar loans.
As LDA, dv01 will manage monthly deal reporting by cleansing, validating, and standardizing loan-level data from underlying servicers and other transaction participants.
dv01 says that Kroll Bond Rating Agency estimates that issuance climbed 22% YoY in 2020, with GoodLeap responsible for most of the issuance. The market is expected to increase further aided in part by a supportive administration.
“As investor demand for sustainable investing increases, transparent data on the underlying collateral is crucial to understanding asset performance,” said Perry Rahbar, Founder & CEO at dv01. “We’re excited to partner with a leading issuer to cement solar as a viable, investment-worthy asset class. We look forward to deepening our relationship with GoodLeap and introducing our reputable loan-level expertise to a rapidly-growing market.”
Tanguy Serra, GoodLeap’s President said with dv01, they look forward to providing market participants the opportunity to take part in these ESG assets with confidence and efficiency.