What we do
Structured operations for structured finance.
For an asset-backed transaction, the close is where the work begins. Everything Atlas does is for the years that follow, and it is shaped by structured finance veterans who know these transactions from the inside.
At close
Designed for the years after close.
Atlas ABS holds the structure of an asset-backed transaction as its documents define it: term securitizations, warehouse facilities and private asset-based lending arrangements.
A structure is judged in the periods that follow the closing, not on the day of it: when reporting is late, when a servicer has to be replaced, when a trigger is tested, when the documents are silent on the thing that has just happened. The platform is built for those periods: the structure configured from the documents is the structure every later period runs on.
- The capital structure and its mechanics: tranches, coupons, ratings and covenants, entered once for the full life of the transaction
- The roles the documents give each party, as seats with permissions set before any record opens
- The waterfall as the documents define it, configured in ordered steps and versioned
- A guided six-step setup with a health score, so a deal is set up in one to two days
- What it gives the deal
- A structure held as the documents define it, for the life of the transaction.
- Transactions
- Term securitizations, warehouse facilities and private asset-based lending.
- The perspective
- A deal is set up for the periods after close, not only the day of it.
- Where it leads
- Every period that follows.
Every period
One record, every period.
Every period asks the same questions of a deal: what was collected, where it goes, whether it reconciles, and what each party is told. On Atlas ABS the answers come from one record, kept as the work is done rather than assembled after it.
The period's statements, factor files and, where it applies, Regulation AB report data are built from the deal's own data.
The money moves outside the platform, on existing bank rails. Atlas ABS does not execute payments, hold funds, or custody assets.
- Collections submitted by component, with amendments versioned
- The waterfall run from a versioned configuration
- Every period's reconciliation signed off and recorded
- Distribution statements, and factor files to six decimals, in the formats capital providers consume
- Regulation AB reporting from deal data, with deadlines tracked, where it applies
- What it gives the deal
- A period that closes with its record already complete.
- The record
- Every submission, approval and sign-off, as it happened.
- The money
- On existing bank rails, outside the platform.
- What investors see
- Holdings, distributions, payment history and deal health, in their own seat.
When it is tested
When a deal is tested, nothing has to be reconstructed.
A covenant trips. A servicer is disrupted. An investor, an auditor or an examiner asks what happened in period seven.
The record is already complete: every significant action, who took it and when, with the values before and after, on a ledger no party can edit, Atlas included.
The decisions are still made by the people who answer for them. They make them with the whole record in front of them.
- Covenant triggers tracked from warning to breach, each breach confirmed by a person and open until its cure is recorded
- Escalations on the record, from a flag to a request for remediation
- The backup servicer and its standby type, cold, warm or hot, on record before a disruption, with the transition history
- Reconciliation records and the audit ledger, exportable for the audit file
- What it gives the deal
- Every answer on the record before the question is asked.
- Through
- A covenant breach, a servicer disruption, an examiner's request.
- The approach
- Problems surfaced early, before they become disputes.
- The record
- Kept for the life of the transaction.
How it begins.
From the documents to the final payment date.
The documents
The deal set up as its executed documents define it. A standard deal takes one to two days.
The parties
Each party invited to its own seat and verified before it begins. Onboarding takes one to two weeks.
The first period
The first payment period run on the record, with people beside you who have run these deals before.
Every period after
Through to the final payment date, on the same record, with the same people to call.
Speak with a principal.
Tell us about the transaction and your position in it, and a principal will be in touch.
- The transaction: term, warehouse or private asset-based, and where it stands
- Your position in it: lender, issuer, investor, servicer or another party
- What you would like to discuss: a demo, the Design Partner Program, or something else