PeerIQ, a leading provider of loan-level analytics that is big into the alternative finance space, has partnered with Mosaic on a $307 million loan securitization. Mosaic is a leader in the solar financing sector. Launching as a peer to peer lender, Mosaic has shifted into a balance sheet lender with solid success.
PeerIQ is supporting this week’s solar loan asset backed securitization, MSAIC 2017-2. This is Mosaic’s second term ABS issuance, with Deutsche Bank, BNP Paribas, Guggenheim Partners, and DZ Bank arranging the deal. Backed by 10,188 residential rooftop solar loans, the offer was heavily oversubscribed, pricing significantly tighter than the low end of price guidance.
Mosaic leveraged PeerIQ’s platform to offer prospective ABS buyers access to loan-level collateral data and analytical tools. According to the two companies, instead of providing rep lines by subgroup, Mosaic and PeerIQ exposed the entire collateral pool, offering potential investors tools to filter and stratify the entire pool, drill down on single loans, and export loan tapes and other diligence analyses.
“PeerIQ’s platform allows digital consumer lenders, financiers, and ABS buyers to transact with confidence,” said Ram Ahluwalia, chief executive officer of PeerIQ. “We’re excited that Mosaic chose to work with us on this issuance to increase loan-level transparency, streamline diligence, and improve overall ABS execution.”
Katya Baron, Managing Director of Capital Markets at Mosaic, explained that PeerIQ allowed them to deliver improved transparency to investors during the offering process;
“This was a huge plus in marketing the deal and enhanced overall execution.”
