Moody’s has acquired ABS Suite, a software platform used by issuers and trustees for the administration of asset-backed and mortgage-backed securities programs, from Deloitte & Touche. The ABS Suite product and personnel will join Moody’s Analytics’ Structured Solutions business.
ABS Suite is used to support a variety of securitized asset classes including credit cards, mortgages, auto loans and leases, mobile-device payment plans, and equipment-related assets. The platform’s global customer base includes five of the top eight credit card issuers, five of the top ten auto finance issuers, and many of the largest issuers of telecom and mortgage receivable securitizations, according to a statement by Moody’s.
The terms of the transaction were not disclosed.
[Image courtesy: Moody’s]