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Category: News

Recent Edge Platform Updates

Edge Platform Updates


MSR Engine

The Platform’s extensive library of available MSR analytic outputs has been expanded to include Effective Recapture Rate and other Income and Expense fields.

Base servicing cost inputs for MSR assumptions have also been enhanced.


LOANS

The ETL tool for loan onboarding has been further enhanced with machine learning capabilities.

New fields for querying options and enhanced segmentation have been added. And SOFRWalSpread and SOFRSpotSpread are now captured in static analysis output.


HISTORICAL PERFORMANCE

Special Eligibility Program fields have been added to Fannie and Freddie pool data outputs along with a complementing SpecialProgram100 filter

Fannie and Freddie datasets now include CBR and CPR metrics (previously only available for Ginnies).

New support has been added for saving CoreLogic LLD queries with complement filters.

Enhanced historical date-based queries in Edge Perspective (e.g., option to run and save queries with relative factor dates rather than specifically coded date.


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Daniel Fleishman Joins RiskSpan’s MSR Team

ARLINGTON, Va., May 3, 2022 — RiskSpan, a leading provider of residential mortgage and structured product data and analytics, has appointed Daniel Fleishman as Managing Director within its recently announced Mortgage Servicing Rights unit.

Fleishman’s career includes 17 years at BlackRock where he worked extensively with banks, mortgage companies and REITs to support MSR valuation, risk measurement and hedging practices. In that role, Fleishman gained deep expertise in MSR cash flow and mortgage modeling as well as experience managing diverse client needs ranging from model validation to MSR acquisition analysis. Earlier in his career, he also spent more than a decade at the Federal Reserve Bank of New York.

“Dan’s extensive expertise with mortgage and MSR analytics is a wonderful complement to our Edge Platform,” said Bernadette Kogler, CEO of RiskSpan. “With the MSR application starting to gain real traction, Dan is just the person to help ensure our clients are getting all they can out of the capability.”

“I am delighted about this opportunity to be a part of such a dynamic company in this new role,” said Fleishman. “I look forward to helping Edge users manage multiple loan-level datasets with ease and visualize servicing cash flows and analytics rapidly and with granularity.”

As announced last week, RiskSpan’s cloud-native MSR application is a new component of its award-winning Edge Platform. It enables investors to price MSRs and run cash flows on the fly at the loan level, opening the door to a virtually limitless array of scenario-based analytics. The flexibility afforded by RiskSpan’s parallel computing framework allows for complex net cash flow calculations on hundreds of thousands of individual mortgage loans simultaneously. The speed and scalability this affords makes the Edge Platform ideally suited for pricing even the largest portfolios of MSR assets and making timely trading decisions with confidence.


About RiskSpan, Inc.
RiskSpan offers end-to-end solutions for data management, trading risk management analytics, and visualization on a highly secure, fast, and fully scalable platform that has earned the trust of the industry’s largest firms. Combining the strength of subject matter experts, quantitative analysts, and technologists, RiskSpan’s Edge platform integrates a range of datasets – structured and unstructured – and off-the-shelf analytical tools to provide you with powerful insights and a competitive advantage. Learn more at www.riskspan.com.

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RiskSpan Announces Cloud-Native Mortgage Servicing Rights Application

ARLINGTON, Va., Mortgage fintech leader RiskSpan announced today that it has added a Mortgage Servicing Rights (MSR) application to its award-winning on-demand analytics Edge Platform.

The application expands RiskSpan’s unparalleled loan-level mortgage analytics to MSRs, an asset class whose cash flows have previously been challenging to forecast at the loan level. Unlike conventional MSR tools that assume large numbers of loans bucketed into “rep lines” will perform identically, the Edge Platform’s granular approach makes it possible to forecast MSR portfolio net cash flows and run valuation and scenario analyses with unprecedented precision.   

RiskSpan’s MSR platform integrates RiskSpan’s proprietary prepayment and credit models to calculate option-adjusted risk metrics while also incorporating the full range of client-configurable input parameters (costs and recapture assumptions, for example) necessary to fully characterize the cash flows arising from servicing. Further, its integrated data warehouse solution enables easy access to time-series loan and collateral performance. 

“Our cloud-native platform has enabled us to achieve something that has long eluded our industry – on-demand, loan-level cash flow forecasting,” observed RiskSpan CEO Bernadette Kogler. “This has been an absolute game changer for our clients.”

Loan-level projections enable MSR investors to re-combine and re-aggregate loan-level cash flow results on the fly, opening the door to a host of additional, scenario-based analytics – including climate risk and responsible ESG analysis. The flexibility afforded by RiskSpan’s parallel computing framework allows for complex net cash flow calculations on hundreds of thousands of individual mortgage loans simultaneously. The speed and scalability this affords makes the Edge Platform ideally suited for pricing even the largest portfolios of MSR assets and making timely trading decisions with confidence.

About RiskSpan 
RiskSpan offers end-to-end solutions for data management, trading risk management analytics, and visualization on a highly secure, fast, and fully scalable platform that has earned the trust of the industry’s largest firms. Combining the strength of subject matter experts, quantitative analysts, and technologists, RiskSpan’s Edge platform integrates a range of data-sets – structured and unstructured – and off-the-shelf analytical tools to provide you with powerful insights and a competitive advantage. Learn more at www.riskspan.com. 

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RiskSpan a Winner of 2022 HousingWire’s Tech100 Mortgage Award

RiskSpan named to HousingWire’s Tech100 for a fourth consecutive year — recognition of the firm’s continuous commitment to advancing mortagage, technology, data and analytics.

Our cloud-native data and predictive modeling analytical platform uncovers insights and mitigates risks for loans and structured products.

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HousingWire is the most influential source of news and information for the U.S. mortgage and housing markets. Built on a foundation of independent and original journalism, HousingWire reaches over 60,000 newsletter subscribers daily and over 1.0 million unique visitors each month. Our audience of mortgage, real estate and fintech professionals rely on us to Move Markets Forward. 


RiskSpan Chosen “Best Company for Diversity and Inclusion” Category Winner in WatersTechnology’s Women In Technology & Data Awards 2022 Rankings

RiskSpan Chosen “Best Company for Diversity and Inclusion” by WatersTechnology Women In Technology & Data Awards 2022


Learn More about riskspan's Dei initiatives

The award reflects RiskSpan’s major commitment to making DEI a priority and empowering employees from every background and at every level of the company to contribute to our mutual success.

Recent initiatives have included:

  • A broad expansion and formalization of a mentorship program pairing every non-management employee with a senior company leader.
  • Regular anonymous surveys designed to gauge employee perceptions of inclusion and identify opportunities for improvement.
  • Establishment of a Women’s Employee Resource Group featuring forums, dinners, and other social events.
  • Active participation in industry DEI committees and events.
  • Development of training frameworks open to all employees seeking help obtaining certifications and customized training programs.

These and related efforts all aim to create a close-knit organization by maximizing opportunities for communication among staff across the organization and creating more opportunities to get to know one another in smaller groups outside of assigned projects and teams.


RiskSpan’s Diversity, Equity & Inclusion Initiative

RSOne Vision

Diversity, Equity & Inclusion has been a recent focus of RiskSpan as of early 2021, and Managing Director Christabel James has led the effort. She works closely with RiskSpan’s executive team to initiate and build out RSOne DEI strategies. Christabel has established a mentoring program and organized a number of team building events. She is also active in coordinating and attending events geared towards women in finance.

Formal Mentorship Programs

  • Open to all employees companywide
  • One on one conversations with team members to understand their personal and career aspirations and match them to a mentor
  • Guide executive and management team on mentorship community
  • Heavily promote reverse mentoring
  • Created and shared guides with both mentors and mentees providing guidance on the program

Engagement 

  • Implement DEI Images for laptop screensavers 
  • Host competitions with the goal of raising awareness
  • Initiate and share results of survey along with action items

Observances

  • Established Juneteenth as a corporate holiday 
  • Regular companywide communication drawing attention to a DEI resources

Women’s Employee Resource Group (ERG)

  • Established ERG to support and encourage the women in the firm
  • Established a women’s forum and schedule individual conversations with junior staff
  • Hosted female’s get together which included women at all levels from associate analysts to CEO

 Industry DEI Committees and Events

  • RiskSpan is an active contributor to the Structured Finance Association’s DEI Toolkit Initiative, which provides guidance and resources on best practices related to DEI. SFA’s Toolkit includes a combination of video interviews, member-written blogs, articles, podcasts, and member-firm submitted resources centered around diversity recruitment.
  • Participated in the Virtual National Diversity and Leadership Conference 2021 

Training Framework

  • Available to anyone seeking assistance with certifications and customized training programs
  • Built a framework for team to take advantage of courses included as part of memberships for free or a reduced cost
  • RS Portal integration was initiated

What Is Your DEI Strategy?

Inclusive Recruitment

Christabel James | DEI Lead, RiskSpan

*This post by RiskSpan’s Christabel James was originally published in February 2022 by the Structured Finance Association.


Companies that have implemented intentional diversity, equity, and inclusion (DEI) policies and strategies have not only a great and inclusive corporate culture, but also increased employee retention, productivity, quality of decision making – all of which positively impact the bottom-line.

Building a strong, diverse, and inclusive culture starts with recruitment, the beginning of the employee life cycle.

What does it mean to be inclusive in recruitment? Why is inclusive recruitment important? How can we proactively implement inclusive recruitment practices? Read on to find out how inclusive recruitment cannot only strengthen you DEI policies but be a powerful tool that helps shape the culture, the bottom line, and perceived value of the company.


What is inclusive recruitment?

While it seems like machines are replacing most jobs, people continue to be an organization’s most valuable asset. There is not denying that the quality of a company’s human resources, and their active engagement, continues to drive business performance. Research from Gallup has shown that disengaged employees cost companies $450-to-$550 billion in lost productivity annually. Given, this, recruitment is the first step to attracting bright and diverse talent, encouraging not only diversity but also increased engagement and inclusiveness.

Inclusive recruitment recognizes that diverse talent exists and employs practical, intentional tools to not only attract, but also level the playing field for this talent and in the process removes unconscious biases and discriminations that plague traditional processes. Inclusive recruitment ensures that candidates are hired based on their skills, abilities, and expertise, and not based on their characteristics or background.  


Why is inclusive recruitment important? 

It’s no surprise that hiring a diverse workforce that brings in potentially diverse thought leadership is critical in today’s competitive business landscape. While companies are bound by law to treat every candidate equally, what is also important for businesses is the impact that their corporate culture has on the branding of their organization. A company whose culture emphasizes diversity and inclusion signals greater acceptance of diverse talent, thereby attracting a larger, more diverse talent pool, all of which positively impact not only the company’s bottom-line, but also, its reputation. According to Pew Research Center, millennials are the largest generation in the US workforce and in a research by the Read More


RiskSpan and Verisk Collaborate to Offer Climate Risk Analytics for Mortgage Finance

Mortgage analytics firm RiskSpan has collaborated with Verisk to create a first-of-its-kind solution for measuring and mitigating the risks of climate change to the housing finance industry. The collaboration unites RiskSpan’s Edge Platform for mortgage analytics with Verisk Extreme Event  Solutions’ proven set of models — relied on by leading insurance, re-insurance, corporate and government entities, to assess the risk from natural catastrophes and climate to a given location by providing a property-specific hazard risk metric.

“Verisk’s ground-up approach to property-specific risk analysis is the perfect complement to our loan-level approach to mortgage credit and prepayment modeling,” said Janet Jozwik, the managing director heading up RiskSpan’s contribution to the new partnership. “We are excited to layer Verisk’s unique property risk scoring into our existing credit and portfolio risk framework.”

“Our collaboration with RiskSpan will serve to greatly benefit the housing finance industry by adding critical data and analytics from Verisk’s catastrophe models during the loan screening process,” observed Roger Grenier, senior vice president of Verisk’s global resilience practice. “This added layer of portfolio management can help banks and financial institutions better understand the potential risk from extreme weather events to a given property.”

The risk to the housing finance industry from extreme events is significant. According to Verisk, 62 million residential locations are at moderate to extreme risk of flooding alone.

“We are thrilled to bring the powerful climate and hazard risk analytics of Verisk to our clients,” said Bernadette Kogler, chief executive officer, RiskSpan. “This alliance opens the door to a world of property-level data from the insurance industry that can have tremendous value for applications in the mortgage space.”

“The collaborative solution will bring together the best extreme event models, data and climate analytics to the mortgage finance industry,” concluded Bill Churney, president, Verisk’s Extreme Event Solutions unit. “With financial institutions facing increased pressure to factor climate risk into their decision making, we expect RiskSpan’s enhanced tools powered by Verisk to be a welcome addition to their risk management process.”

The collaboration offers two complementary products, including loan-level scoring and climate stress testing, with applications for loan screening, portfolio management, and financial disclosures.


About RiskSpan 

RiskSpan offers end-to-end solutions for data management, risk management analytics, and visualization on a highly secure, fast, and fully scalable platform that has earned the trust of the industry’s largest firms. Combining the strength of subject matter experts, quantitative analysts, and technologists, RiskSpan’s Edge Platform integrates a range of data-sets – structured and unstructured – and off-the-shelf analytical tools to provide you with powerful insights and a competitive advantage. Learn more at www.riskspan.com. 

About Extreme Event Solutions at Verisk

Extreme event solutions at Verisk (formerly AIR Worldwide) provides risk modeling solutions that help individuals, businesses, and society become more resilient to extreme events. In 1987, Verisk founded the catastrophe modeling industry and today models the risk from natural catastrophes, supply chain disruptions, terrorism, pandemics, casualty catastrophes, and cyber incidents. Insurance, reinsurance, financial, corporate, and government clients rely on Verisk’s advanced science, software, and consulting services for catastrophe risk management, insurance-linked securities, longevity modeling, site-specific engineering analyses, and agricultural risk management. Verisk’s extreme event solutions team is headquartered in Boston, with additional offices in North America, Europe, and Asia. For more information, please visit www.air-worldwide.com. For more information about Verisk, a leading data analytics provider serving customers in insurance, energy and specialized markets, and financial services, please visit www.verisk.com.

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RiskSpan Wins Risk as a Service Category for Second Consecutive Year, Leaps 12 Spots in RiskTech100® 2022 Ranking

RiskSpan’s Edge Platform, a leading provider of risk analytics, data, and behavioral modeling to the structured finance industry, is the “Risk as a Service” category winner for the second consecutive year in Chartis Research’s prestigious RiskTech100® ranking of the world’s 100 top risk technology firms. 

The win accompanies a 12-point improvement in RiskSpan’s overall ranking, placing the firm among the year’s most significant movers.  

“RiskSpan’s continued growth and ongoing partnership strategy have made it one of the big risers in the rankings this year,” said Phil Mackenzie, Research Principal at Chartis Research. “Its strength in securitization and analytics as a service is reflected in its 12-point jump.” 

Licensed by some of the largest asset managers, broker/dealers, hedge funds, mortgage REITs and insurance companies in the U.S., Edge is a one-stop shop for research, analytics, pricing, risk metrics, and reporting. Edge’s cloud-native infrastructure scales as individual client needs change and is supported by RiskSpan’s unparalleled team of mortgage and structured finance experts.  

“This year’s award reflects a year marked by an unprecedented wave of enhancements to our risk platform, noted Bernadette Kogler, RiskSpan’s co-founder and CEO. “Our loan-level analytics has been a hit, while our fully managed risk option continues to tailor scalable offerings to individual client needs. Our best-in-class portfolio analytics for structured products are fast becoming the talk of the industry.”


About RiskSpan 

RiskSpan offers end-to-end solutions for data management, risk analytics, and visualization on a highly secure, fast, and fully scalable, cloud-native platform that has earned the trust of the mortgage and structured finance industry’s largest firms. Combining the strength of subject matter experts, quantitative analysts, and technologists, RiskSpan’s Edge Platform integrates a range of datasets – structured and unstructured – and off-the-shelf analytical tools providing users with powerful insights and a competitive advantage. Learn more at www.riskspan.com.


About Chartis Research: 

Chartis Research is the leading provider of research and analysis on the global market for risk technology. It is part of Infopro Digital, which owns market-leading brands such as Risk and WatersTechnology. Chartis’ goal is to support enterprises as they drive business performance through improved risk management, corporate governance and compliance, and to help clients make informed technology and business decisions by providing in-depth analysis and actionable advice on virtually all aspects of risk technology. 


RiskSpan, Arete Risk Advisors Announce Strategic Consulting Partnership

RiskSpan, a leading provider of data and analytics solutions to the mortgage industry, has announced a partnership with Arete Risk Advisors, LLC, to complement RiskSpan’s existing team of data science, modeling, and financial engineering consultants.  A woman-owned firm boasting a deep bench of experienced housing finance professionals, Arete delivers unparalleled expertise in applying operations, information technology, governance, risk management, and internal controls best practices to every aspect of home lending.  Arete is led by managing partner Patricia Black, an industry-leading executive in home lending. Prior to founding Arete, Patricia served as Fannie Mae’s Chief Audit Executive, Chief of Staff at Caliber Home Loans, the Head of Sales and Operations at SoFi, and a Senior Manager at KPMG Consulting/BearingPoint.    “I’m very excited to be involved with a growing woman-owned business while simultaneously expanding our own advisory offering,” said Bernadette Kogler, Co-Founder and CEO of RiskSpan. “Arete’s emphasis on delivering top-qualify mortgage compliance, controls, governance, and operations services creates a natural synergy with RiskSpan’s data and modeling capabilities. This partnership promises to benefit clients of both firms.”  Patricia Black added, “the opportunity to grow with Bernadette and the RiskSpan team to expand women-owned businesses in the home lending space is inspiring and I am excited about contributing to the continued success of Bernadette and her team.”  Learn more about Arete’s range of services at www.areteriskadvisors.com. Questions about the firm may be directed to info@areteriskadvisors.com.  About RiskSpan  RiskSpan offers end-to-end solutions for data management, risk analytics, and visualization on a highly secure, fast, and fully scalable, cloud-native platform that has earned the trust of the mortgage and structured finance industry’s largest firms. Combining the strength of subject matter experts, quantitative analysts, and technologists, RiskSpan’s Edge Platform integrates a range of datasets – structured and unstructured – and off-the-shelf analytical tools providing users with powerful insights and a competitive advantage. Learn more at www.riskspan.com. 


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