Austin, Texas, June 16, 2020 – Abrigo, a leading provider of compliance, credit risk, lending, and asset/liability management solutions, is excited to announce a partnership with Trepp, a top data and analytics technology solution, to better inform Sageworks ALLL customers’ allowance and capital planning scenario building efforts.
Financial institutions who may not have the in-house capabilities or adequate data history to tackle the implementation of the current expected credit loss (CECL) accounting standard, or those who do and want to bolster the strength of their current model, can receive value from peer benchmarking data to create more defensible allowance calculations. To help bridge the data gap, Abrigo customers can now access benchmark data through Trepp, which has more than 20 years of modeling experience in the commercial real estate (CRE) market. Trepp’s expertise has led to the creation of proven industry models for predicting both defaults and potential losses. Combining Abrigo’s best-in-class data integration and cash flow engine and Trepp CRE data, users can quickly and easily create accurate estimates of potential credit losses for either current or future GAAP.
“We’re proud to partner with Abrigo to provide a solution for banks that want to seamlessly leverage industry standard CRE loss forecasting techniques in the platform they're using on a day to day basis,” said Joe McBride, Head of CRE Finance at Trepp. “Abrigo has a long history of solving complex issues in the risk management and accounting space and we look forward to providing added value to our mutual clients.”
The Trepp Default Model Scorecard functionality in the Sageworks ALLL model provides forecasted probability of default (PD) and loss given default (LGD) rates for different classes of loans stratified by property type, region, loan type, loan to value (LTV), and debt service coverage ratio (DSCR) cohorts. Performing alternative scenarios is made easy by pulling in either baseline or severely adverse data.
“We’ve worked with more than 850 financial institutions to prepare for this accounting transition, and we understand the depth and breadth of data required for these CECL methodologies is a real challenge for financial institutions,” said Jay Blandford, President at Abrigo. “We’re excited about this partnership with Trepp because it gives our customers even more flexibility and confidence as they transition to CECL.”
Financial institutions can begin leveraging Trepp data within Sageworks ALLL today. To learn more about Trepp or Trepp Default Model Scorecards, click here. For more information regarding the partnership, download the one-pager or contact Abrigo.
Trepp, founded in 1979, is a leading provider of data, analytics, and technology solutions to the global securities and investment management industries. Trepp specifically serves three key sectors: structured finance, commercial real estate, and banking to help market participants meet their objectives for surveillance, credit risk management, and investment performance. Trusted by the industry for the accuracy of its proprietary data, Trepp provides clients with sophisticated, comprehensive models and analytics. Trepp is wholly owned by Daily Mail and General Trust (DMGT). For more information, visit www.trepp.com.
Abrigo is a leading technology provider of compliance, credit risk, lending, and asset/liability management solutions that community financial institutions use to manage risk and drive growth. Our software automates key processes – from anti-money laundering to asset/liability management to fraud detection to lending solutions – empowering our customers by addressing their Enterprise Risk Management needs. Visit abrigo.com to learn more. Follow Abrigo on social media using @WeAreAbrigo.