Structured Risk Analytics LLC

1
Structured Risk Analytics LLC

• 1111 Route 22 East
• Mountainside, NJ 07092
• Phone [phone]
• Website www.GlobalSRA.com

2
Table of Contents

• Introduction Page 3
• Analytic Competencies Page 4
• Team Members Pages 5-7
• Detailed Credit and Analytic Services Pages
  8-11
• Value Added Services Pages 12-14
• Next Steps Page 15

3
Introduction

• Respected independent experts in structured
  finance - with proven track record of results.
• Diverse professional backgrounds including rating
  agencies, commercial and investment banks,
  monoline insurance companies, state and local
  governments.
• Commitment to capital preservation.
• Highest level of responsiveness to client needs.
• Consistent emphasis on teamwork.
• Adherence to rigorous and robust analytic
  discipline.
• Minority and women owned business.
• Commitment to assisting clients in achieving
  their targeted goals - analytical, financial,
  operational or strategic.

4
Analytic Competencies

• Credit risk assessment.
• Bond portfolio valuation.
• Asset performance monitoring.
• Due diligence and servicer risk evaluation.
• Securitization documentation review.
• Trustee evaluation and servicer report
  reconciliation.
• Transaction structuring.
• Funding solutions.
• Research.

5
Team Members

• Ed Bankole
• Michael Nelson
• Lawrence Kwoh
• Cecilia X. Birge
• J. Mark Hemmann
• Margarette Carrette
• Valerie Martin

6
Biographies

• Ed Bankole
• formerly
• MD/Head of Portfolio Analysis, WestLB AG.
• MD/Global Head of Credit ABS and Secondary Market
  Products, CRM, WestLB AG.
• MD/Non-Mortgage ABS Moodys Investors Service.
• Special Assistant, Loans Credits Function,
  Federal Reserve Bank of NY.
• Manager, Financial Analysis, SLMA
• Board member, Basinghall Mortgage Finance and
  Basinghall Commercial Mortgage Finance.
• Expert witness for three US Senate Committees
  Banking, Technology, and Judiciary.
• Michael Nelson
• formerly
• MD / US RMBS and ABS, DBRS.
• Senior Director RMBS, Fitch Ratings.
• SVP Securitization, The Money Store.
• VP RMBS, JP Morgan and Drexel Burnham Lambert.
• Lawrence Kwoh
• formerly

7
Biographies

• Cecilia X. Birge
• formerly
• AVP, Asset Finance Group, Financial Securities
  Assurance Inc. (Singapore and New York).
• Analyst, Structured Finance Group, Moodys
  Investors Service.
• Mayor of one of mid-sized townships in New
  Jersey.
• J. Mark Hemmann
• formerly
• Originator and structurer for 1.5B ABCP and
  securitized portfolio.
• Finance officer responsible for 4B leasing
  portfolio and bank warehouse lines and yearly
  securitization.
• Associate for executive development team of a
  Fortune 200 company.
• Program management consultant for US government
  projects.
• Margarette Carrette
• formerly
• Director, ABS Monitoring, WestLB AG.
• Director, Head of RMBS Performance Analytics,
  Fitch Ratings.
• Manager, ABS Monitoring, Moody's Investors
  Service.

8
Credit Analysis

• Empower clients to understand transaction credit
  performance by
• Analyzing and explaining trends in transaction
  credit performance.
• Benchmarking credit performance against industry
  and peers.
• Customize performance expectations based on
• Macro and micro economic factors affecting credit
  performance.
• Defining transaction monitoring and adjustment
  strategies.
• Provide clients with performance explanations to
  third parties (e.g. rating agencies, investors).
• Provide robust securities valuation services to
  clients
• Review portfolio financing options for clients.
• Provide default/expected loss evaluation.

9
Analytic Services

• Portfolio valuation, cash flow modeling.
• Market / fair value appraisal of fixed income
  securities.
• Stochastic modeling of each bond or portfolio.
• Default curve estimation and loss-given default
  analysis.
• Vintage analysis.
• Forward looking research.
• Cash flow and structuring analysis.

10
Due Diligence and Asset Monitoring

• Review governing documents.
• Review investment objectives and guidelines.
• Evaluate investment managers experience, staff
  and internal control.
• Perform stochastic modeling and cash flow runs.
• Sample investor reports and tie out with records.
• Sample third party contracts and payments.
• Confirm consistent investment amounts and payment
  priorities to underlying documents.
• Prepare confidential report of findings.

11
Servicer Analysis, Review and Monitoring

• Assess an asset servicers financial strength and
  expertise.
• Evaluate management experience, track record and
  stability.
• Evaluate systems, MIS reporting, internal audit,
  data backup and recovery.
• Examine records, test for accuracy, safekeeping
  and file tracking.
• Rate servicer based on confidential metrics.

12
Value Added Services

• Servicer report review, due diligence, analysis
  and asset performance forecasting.
• Provide independent and objective opinion on data
  reporting accuracy.
• Re-calculate key credit performance ratios.
• Perform cohort and trend analysis, and compare to
  industry and peers.
• Overlay future projections and credit performance
  outlook.
• Review and give recommendations for investment
  performance.
• Rating Agency consultation and sizing reserve
  levels.
• Finding liquidity, restructuring and refinancing
  solutions.

13
Value Added Services

• Provide market outlook and key macroeconomic
  factors affecting performance.
• Interpret data and trends into comprehensive,
  usable report.
• Provide action points to correct or improve
  trends.
• Assist clients in understanding and explaining
  existing risks to interested parties.
• Confidential portfolio analysis for internal
  management use.
• Provide areas of focus to management for future
  direction.

14
Value Added Services

• Assist with strategic initiatives.
• Initiate and implement mutually beneficial
  introductions with third parties.
• Function as private consultant for confidential
  business planning.
• Cost effective operational support for staffing
  needs.
• Custom initiatives.

15
We welcome the opportunity to customize our
services to fit your needs.

• Next steps