New York, New York – January 2, 2007 – Andrew Davidson & Co., Inc. (ADCo), a provider of risk analytics models and consulting services for fixed income investors with emphasis on mortgage and asset backed securities, today announced that it has secured a US$2 million venture loan from MMV Financial Inc.
“MMV were a delight to work with and we are pleased to have them as a financial partner,” said Andrew Davidson, President and Founder of ADCo. “This financing will give us the resources to expand our team and to broaden our portfolio of models.”
ADCo’s Vectors™ analytics library currently offers prepayment models for mortgage-backed securities (MBS) and asset-backed securities (ABS), and option-adjusted valuation and risk management tools for MBS, ABS, and CMOs. Continuing its practice of innovation, the company is expanding its prepayment modeling line into the credit risk arena with the launch of its Loan Transition Model later this month. This model is the first to be released under ADCo’s planned Credit Product Line targeted toward issuers and investors of credit-sensitive mortgages and related securities. The Credit Product Line will include an HPI Generator as well as an Implied Default Model.
Since 1992, Andrew Davidson has built a strong and reputable brand by delivering unique, sophisticated quantitative models and services. Clients are the who’s who of the financial services industry and include leading banks, money managers and government agencies.
“Andrew Davidson & Co., Inc. is a strong brand and leader in prepayment modeling,” said Ron Patterson, Executive Vice President, MMV Financial Inc. “MMV is impressed by the company’s deep sector expertise, remarkable client base, and new product initiatives which we believe will result in solid growth. In addition, this opportunity is exciting as it is MMV’s first investment in New York City, a market which we plan to open further in the coming months.”
About Andrew Davidson & Co., Inc.
Andrew Davidson & Co., Inc. is the leading provider of risk analytics for fixed income investors with emphasis on mortgage and asset backed securities. They currently offer prepayment models for MBS and asset-backed securities (ABS), and option-adjusted valuation and risk management tools for MBS, ABS, and CMOs. ADCo is extending their prepayment model suite to include a Credit Product Line, which will be commercially available in 2007. The company's unique blend of investment expertise and cutting-edge quantitative methods allows it to combine decades of Wall Street experience with the most advanced modeling techniques. For more information about Andrew Davidson & Co., Inc., please visit their website at http://www.ad-co.com/, or contact:
Andrew Davidson & Co., Inc.
About MMV Financial Inc.
MMV Financial is a Toronto-based specialty finance company providing creative debt solutions directly to technology and life sciences companies across North America. MMV is backed by top U.S. and Canadian private equity firms and financial institutions including CCP Equity Partners, Caisse de dépôt et placement du Québec, NewStar Financial, Inc., and Wells Fargo Company. For more information visit www.mmvf.com,
Executive Vice President
MMV Financial Inc.