Moody's buys Deloitte's software platform for mortgage-backed securities

by Candyd Mendoza07 Oct 2019

Moody’s Corporation has announced purchasing ABS Suite, a management software platform for asset-backed and mortgage-backed securities programs.

The company acquired Deloitte’s ABS Suite to expand its offerings of securitized transactions. Moody’s said it would incorporate ABS Suite products and personnel into its Structured Solutions business, which provides research, data and analytical tools to issuers of structured finance deals.

Issuers and trustees use the platform to support various securitized asset classes such as mortgages, credit cards, auto loans and leases, mobile-device payment plans, and equipment-related assets.

“The acquisition of ABS Suite deepens Moody’s Analytics’ presence with issuers of securitized transactions,” said Moody’s Analytics President Mark Almeida. “Adding the expertise and experience of the ABS Suite team to our already formidable capabilities enables us to provide more and better solutions that improve funding decisions, increase operational efficiency and promote transparency and efficiency in the securitization financial markets.”

The firms did not disclose the terms of the transaction but shared that it was funded with cash on hand.