DENVER-One company has introduced a new solution designed to better manage various portfolios, while also assisting in the buying and selling of loan participations.
Access Capital Investment Group here, is bringing a new system online to help price products, organize the due diligence process and ease the burden of portfolio management ACIG's AXS|RDS platform, a fully online and automated system, gives credit unions of all sizes the ability to buy, sell or simply browse secondary market products through a simple interface, the company said.
"With the use of our 'Portfolio Genie,' buyers can request and customize portfolios they are looking for in the market," Managing Partner Matt Gregarek said. "No longer do they solely need to rely on corporate credit unions. With the right tools, credit unions can help credit unions control the secondary market."
The program's concept was hatched late last year when ACIG helped structure an $80-million loan participation transaction between Security Service FCU and three other credit unions. From there, AXS|RDS was born to faciliate additional loan participations.
"If you're a seller it's simply a matter sending over a data file for us to examine as we provide free analysis and market consultation," he said. "If you wish to move forward, we post the offering on our platform that provides seller information, their key financial ratios, along with all the portfolio characteristics.
According to Gregarek, on the buying side, a credit union representative simply plugs in the parameters of an asset the institution would want to purchase and the engine displays the results. The portfolio genie even saves those parameters and sends e-mail updates to the credit union when new inventory arrives that meets the requested specifications; that can be especially helpful if the first search is fruitless. If something does pop-up, the buyer peruses the detailed search results, plugs in the desired participation and yield and awaits the decision from the seller.
"The intent to purchase is filed online and final due diligence will commence," Gregarek noted. "Instead of calling brokers all over the country, here is a one-stop shop, one source you can come to for high quality assets."
