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Chicago, Illinois [February 8, 2011] UFT Commercial Finance ("UFTCF") has engaged financial advisory and investment banking firm, Duff & Phelps, to provide services related to accounts receivable obligations supporting the Receivables CPC™. The Receivables CPC constitutes a participation interest in a single loan that is secured by a collateral portfolio consisting of a variety of accounts receivable obligations that are all payable by a single qualifying entity. As part of creating a fully scalable credit model for receivables-based loans, UFTCF requires each of the underlying receivables to be independently verified as recognized payment obligations of the ultimate obligor prior to availing a Receivables CPC to a Participating Lender for participation. Duff & Phelps will be performing agreed upon procedures to assist UFTCF in their verification process for each of the receivables to be included in the CPCs.
"We view this as an important ingredient in quality control," confirmed Henri Atamian, Chief Credit and Originations Officer of UFTCF. "It is always important that Participating Lenders have confidence in the data and information that supports a credit. Duff & Phelps will be a significant help in refining a high quality process for our management of this potentially very large pool of information."
The CPC is an asset class that will reflect an array of source credit types that possess a highly diverse geographic and market profile. UFTCF contends that Duff & Phelps’ global reach, loan valuation, and collateral management skill sets will prove invaluable in enhancing consistency among credit originators, improving credit processing procedures and data capture, and simplifying CPC on-boarding.
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Duff & Phelps is headquartered in New York, NY, with offices in North America, Europe, and Asia. It is a leading global independent provider of financial advisory and investment banking services.
UFT Commercial Finance is an alternative credit solutions company and the Network Manager of the Master Participating Lender Network. It is a privately held company with its headquarters in Chicago, Illinois.
Learn more about UFT Commercial Finance at www.uftcf.com.
FOR MORE INFORMATION CONTACT: mediarelations@uftcf.com
Notice: The information contained in this announcement is only accurate as of the date of its publication and release, and may contain certain forward-looking statements based upon anticipated events that may or may not come to pass. The company makes no representation or warranty as to the correctness or accuracy of the information contained herein, and is under no obligation to update this information at any time after the date of release.
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