SOURCE: Primatics Financial

Primatics Financial

November 04, 2013 09:00 ET

Primatics and Prescient Models Introduce New Model to Deliver Advanced Commercial Real Estate (CRE) Forecasting

CRE Model Provides Deeper Loan-Level Insights Into CRE Portfolios Through Evolv, an Integrated Credit Risk and Accounting Platform

MCLEAN, VA--(Marketwired - Nov 4, 2013) - Primatics Financial, a leader in integrated loan accounting and portfolio management, and Prescient Models, a provider of model analytic services, announced the launch of a new loan-level commercial real estate (CRE) model now available to users of Primatics' Evolv Software Service. The model, jointly developed and validated by Primatics and Prescient, will provide loan-level forecasts of cash flows, interest income and losses conditioned on macro-economically sensitive estimates of borrower behavior. 

"We're incredibly excited and proud to announce the launch of Evolv's new CRE Model," said John Lankenau, VP of Product Management for Primatics. "Through our partnership, we hope to leverage Prescient's capabilities to further develop high-level solutions for banks with CRE portfolios. Prescient's well-known strength in model estimation, coupled with Evolv's ability to use models to efficiently and comprehensively forecast loan performance will help banks strategically assess their CRE portfolio for risk management, accounting and regulatory compliance."

By leveraging cash flow simulation and accounting reports of the Evolv platform, Evolv's CRE model is able to provide the forward-looking valuation and forecasting necessary to robustly predict the behavior of commercial real estate loans.

"Coming from the modeling side, I see a convergence happening between the needs of credit risk and accounting," said Prescient's CEO, Dr. Joe Breeden. "Accountants are being asked to create forward-looking numbers and traditionally credit risk-oriented tasks like CCAR are being put through accounting reports. Evolv's CRE model is a great example of how Prescient Models and Primatics recognize the collaborative need to provide robust 'credit risk and accounting' solutions to financial institutions."

"The ongoing convergence of risk and accounting is a major theme embedded in our product road map, and we are dedicated to solving the complex execution and compliance challenges associated with ever-changing regulations and best practice business processes," said Primatics' CEO, Kevin Hesselbirg. "The launch of Evolv's CRE Model is evidence of our commitment to offering innovative, cost-effective and best-of-breed alternatives to current inefficient and manual processes."

For more information, please visit the below links to Evolv's CRE Model webinar and Evolv Paper:

Webinar: Introducing Evolv's CRE Model

Evolv Paper: An Overview of the Evolv CRE Model

About Primatics Financial
Primatics is the leading provider of financial services solutions that enable financial institutions to better process, model and analyze loan portfolios, comply with accounting and regulatory requirements and grow their businesses. Through its enterprise-grade Evolv Suite and proven business analysis services driven by strong domain expertise, Primatics delivers timely, scalable, automated and controlled results in today's changing market and regulatory environment. Primatics is headquartered in McLean, Virginia, USA. For more information, visit: www.primaticsfinancial.com

About Prescient Models
Prescient Models is a leader in loan-level forecasting and stress testing technology with a global clientele. With an emphasis on predicting probabilities, not just rank-order scores, Prescient's models address all aspects of the P&L, including loss forecasting, attrition / prepay, balance growth, revenue and expenses. These models create a uniform modeling connection from loan pricing through account management to economic capital. For more information, visit: www.prescientmodels.com