About
Experience & Education
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Gemini
View Peter Koushik’s full experience
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Licenses & Certifications
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Qualification Exams
Financial Industry Regulatory Authority (FINRA)
Issued ExpiresCredential ID Series 3, 7, 63, 86, 87
Publications
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Extracting Insights from Asset Level Disclosure Data
Aspire Fin Tech
See publicationOver the past four months, we’ve had extensive conversations with ABS market participants to discuss the new Asset Level Disclosure (ALD) requirements for public US securitizations. We discovered that many market participants have been overwhelmed with the volume of loan-level data and are at a loss on how they can readily derive value from it. In the following research piece, we answer commonly asked questions and provide guidance for incorporating ALD data into the investment process.
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Digital Lending’s Impact on Home Improvement Financing
Aspire Fin Tech
See publicationWhen compared to traditional consumer credit products, home improvement purpose consumer
loan performance is declining. We think increased competition from emerging point-of-sale lenders may be contributing to this trend and is indicative of an expansionary phase in the consumer credit cycle. -
Projecting CCOLT 2015-1 Performance Under Stress
PeerIQ
See publicationIn this note, we model the cashflows of the CCOLT 2015-1 deal under a set of base case and bear case scenarios. Our analysis demonstrates that under the deal structure, cash flows to liability holders remain insulated from small to medium tail risk scenarios. Liability holders breakeven in larger cum loss scenarios. We also conclude that certificate-holders earn an IRR between 4% to 52% depending on the severity and timing of losses. We note that the findings are sensitive to loss and…
In this note, we model the cashflows of the CCOLT 2015-1 deal under a set of base case and bear case scenarios. Our analysis demonstrates that under the deal structure, cash flows to liability holders remain insulated from small to medium tail risk scenarios. Liability holders breakeven in larger cum loss scenarios. We also conclude that certificate-holders earn an IRR between 4% to 52% depending on the severity and timing of losses. We note that the findings are sensitive to loss and prepayment timing.
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Comparing Lending Club and Prosper Across Grades
PeerIQ
See publicationWith the recent release of second quarter loan data by both Lending Club and Prosper, we thought it apt to revisit with the consumer P2P leaders, dive into the data via our platform, and identify any new trends.
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Comparing CHAI to CCOLT
PeerIQ
See publicationOn July 22, 2015, Citigroup announced that it is sponsoring a rated securitization of a loan pool originated by Prosper Marketplace, Inc. The transaction, called Citi Held for Asset Issuance 2015-PM1 or (CHAI 2015-PM1), is expected to close in August 2015. Notably, CHAI secured an A3 provisional rating on its senior tranche by Moody’s, a first for P2P consumer loans and three levels higher than the Baa3 rating granted to the last major securitization of Prosper loans.
In this piece, we…On July 22, 2015, Citigroup announced that it is sponsoring a rated securitization of a loan pool originated by Prosper Marketplace, Inc. The transaction, called Citi Held for Asset Issuance 2015-PM1 or (CHAI 2015-PM1), is expected to close in August 2015. Notably, CHAI secured an A3 provisional rating on its senior tranche by Moody’s, a first for P2P consumer loans and three levels higher than the Baa3 rating granted to the last major securitization of Prosper loans.
In this piece, we briefly delve in the details of the CHAI transaction, compare it to CCOLT, and assess what this new deal portends for the future of P2P securitizations. -
Examining the CCOLT 2015-1 Deal
PeerIQ
See publicationThe first rated securitization of P2P consumer loans is a seminal event for the industry. In February 2015, Blackrock Financial Management led the first rated securitization backed by P2P consumer loans, named CCOLT 2015-1. In this piece, we review general securitization concepts, as well as key features of the deal.
Projects
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Serention
A startup crypto-mining hedging service and protocol
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LienIQ
- Present
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Project Skylight
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Startup small business subprime lender for specific industry verticals (now defunct).
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