Federal Home Loan Bank of Atlanta Implements HanoverTrade's Loan Portfolio Valuation Technology

EDISON, N.J., April 4 /PRNewswire-FirstCall/ — HanoverTrade, Inc., a wholly owned subsidiary of Hanover Capital Mortgage Holdings, Inc. (Amex: HCM), announced that the Federal Home Loan Bank of Atlanta (FHLBank Atlanta) has implemented HanoverTrade’s technology that will provide more precise valuations of loan portfolios pledged by borrowing member banks.

HanoverTrade’s technology provides FHLBank Atlanta with the ability to accept data from borrowing member banks in several formats that are mapped automatically to the Bank’s format instead of requiring member banks to submit the data in a single standard format. Real-time edit scripts that run on the loan data provide the Bank with instant feedback of data completeness and logical integrity. The data is then automatically pooled and valued utilizing HanoverTrade’s Hanover/Busch Analytics 7.1 portfolio valuation model. Ad hoc reporting capability is available to all users in real time. Regular reports showing overall portfolio value, as well as the value of loans pledged by each member, can be designed and changed by FHLBank Atlanta as required.

“HanoverTrade’s technology provides us with improved valuation accuracy that results in better execution for our members. It also allows for quicker turnaround, more flexibility, and labor savings,” said Charles I. Abbitt, FHLBank Atlanta’s Chief Credit Officer.

Roberta Graffeo, Managing Director of HanoverTrade, added, “This installation of our Asset Manager, Asset OnSite®, and Hanover/Busch Analytics 7.1 technologies was performed in less than four months. I am proud of our staff and our technology partners at Intraprise Solutions, Inc for their strong execution. It has been a pleasure to work with a great client like the Federal Home Loan Bank of Atlanta.”