New Wave Selects T-REX’s Structuring Platform and Managed Data Services for First SBA Tail™ Securitization
New York, NY, April 11, 2018 – T-REX, a leading enterprise software solutions provider for the complex financing of esoteric asset backed securities (“ABS”) and energy project finance, today announced it has added New Wave Market Makers™ (“New Wave”) as a client.
New Wave is a provider of unique loan participations for federal and state credit unions. Experts in Small Business Administration (“SBA”) lending programs and procedures, New Wave created the market for SBA Tail™, the uninsured portion of SBA 7(a) loans. The New Wave team will utilize T-REX’s software platform to house their target portfolio of loans and structure their first SBA non-guarantee small business loan tail securitization.
With T-REX, New Wave now has access to all of the tools needed to create the most cost-effective securitization possible by testing various combinations of collateral mix and structure. New Wave will also leverage the T-REX Deal Data Service (“T-REX DDS”), a managed service that ensures timely, accurate and actionable deal performance updates for issuers and investors.
Scott Miller, Chief Business Development Officer of T-REX, said, “We’re thrilled to have the New Wave team tap into T-REX’s tools and data services for their portfolio of securities. T-REX was built to support unique, high-potential asset classes like SBA Tails™, and we look forward to supporting their transition into securitizations.”
T-REX is the leading provider of enterprise software and managed data services for esoteric asset classes. With T-REX, market practitioners access a complete suite of tools and data to analyze, assess, and accurately price the risk associated with issuing and investing in renewable energy and other complex asset classes. By eliminating manual processes and automating workflow, T-REX enhances efficiency, transparency, collaboration, and security across the entire investment lifecycle, from asset owners and issuers to investment banks, ratings agencies, accounting firms, through to the end investor. Visit www.trexgroup.com to learn about our products for ABS Markets and for Energy Project Finance.
About New Wave
For the last five years, New Wave Market Makers™, headquartered in Atlanta, has been in the business of arranging for the sale and purchase of loan participations for the uninsured portion of SBA 7(a) loans, the whole loan sale of 504 first mortgages and medical student loans. The principals are former senior bankers/executives with Citibank/Citigroup, New York, Bank of America, San Francisco and Merrill Lynch, Atlanta, with its associates having been in the financial services industry for an average of over 35 years. Several team members have founded and managed both public and private companies and are familiar with the SEC and FINRA rules and regulations, with long standing involvement and knowledge of SBA lending programs and procedures, especially for SBA 7(a) loans and the SBA 504 Loan Program. New Wave created the market for SBA Tail™, the company’s registered trademark for the uninsured portion, as well as specialized lending, such as medical student lending. Team members also have extensive experience with credit policy and procedures, as well as the development of credit criteria, collections, recovery, liquidation and servicing, including the selection and evaluation of third-party administrators. They have a thorough understanding of the SBA and NCUA rules and regulations, as well as having a comprehensive network of subject matter expert attorneys and advisors.
And now transitioning into securitizations… Securitizations are simply an extension of this same business model… but on a much larger scale. Trades – $250-$500 million each as opposed to $5 million or $10 million units, are far more meaningful and financially beneficial for all parties involved. Also, SBA Tails, sold as a rated security, as opposed to a loan participation, are much easier to close, with many more buyers, especially large, institutional buyers. In short, “bigger is better”!
New Wave Market Makers™ Contact: