NERd Analytics

Independent RMBS/CMBS R-Class Analytics & AdvisoryWe provide an independent 360-degree review of RMBS and CMBS (REMIC) R-Class non-economic residuals (NERds) across Agency and private-label securitizations for institutional investors, asset managers, and broker-dealers.At its core, our review is designed to identify intrinsic value, REMIC tax characteristics, and liquidity and sourcing opportunities.

THE NERd 360° REVIEW

NERds are among the most complex and esoteric instruments in structured finance, with value influenced by far more than interest rates. Collateral type and performance, deal age and seasoning, Schedule Q characteristics, deal structure, and termination dynamics can all materially affect their value.While market participants may have expertise in certain areas, it can be difficult to find both the necessary information and professionals with the transactional experience and specialized knowledge to understand how these factors interact.That's where NERd Analytics comes in. We provide institutional clients with a comprehensive review that includes:

• NERd Valuation & Pricing
• NERd Schedule Q Analytics
• Collateral & Deal Analysis
• Liquidity & Sourcing Opportunities
• NERd & Deal Support Document Sourcing

EXPERIENCENERd Analytics brings more than 25 years of institutional structured finance transactional experience, including specialized expertise in non-economic REMIC residuals (NERds).Founder William Nichols, MBA, has built and managed institutional NERd businesses on both the buy-side—as Chief Trading Officer and Portfolio Manager—and the brokerage side, where he established and managed the leading institutional NERd interdealer business at ICAP in New York, brokering thousands of NERds for Tier-1 clients.His experience and relationships span the NERd market ecosystem, including sales and sourcing for leading RMBS/CMBS investment bank underwriters and institutional residual investors; collateral analysis, pricing and sales for REMIC trustees; and working with Big Four accounting firms on Schedule Q and REMIC tax analytics for NERd portfolios.This combination of product expertise, transactional experience and Tier-1 market relationships across the areas that impact NERds enables NERd Analytics to provide clients with a unique 360-degree perspective on their NERd positions.

ENGAGEMENTS & PRICINGNERd Analytics offers flexible engagements tailored to each client's portfolio, objectives and scope of analysis.

• Individual NERd Review
• Portfolio 360° Review
• Acquisition, Sourcing & Disposition Advisory
• Ongoing Institutional Advisory

Engagements may be structured on a project, portfolio, transaction or ongoing advisory basis. Contact us to discuss scope and pricing.

Let's Discuss your NERd Portfolio

Whether you own a single residual or an entire portfolio, contact NERd Analytics to discuss your objectives and determine the appropriate scope of analysis.Will Nichols
Principal | NERd Analytics
[email protected]