MARQ Services provided by MARQ Services Management Pty Ltd (“MSM”)
MSM is a wholly owned subsidiary of Loan RQ Pty Ltd (“Morgij Analytics”) and provides MARQ Services under its AFSL No. 422492.
MARQ Services are designed with detailed standards to provide infrastructure to enable an efficient and low cost method of analysing the risk of mortgages.
Under MARQ Services MSM will be able to supply the following services to End Users:
- standardised mortgage loan level data collection and storage system in a secure environment with selected access where information is not for wide distribution;
- standardised mortgage loan disclosure reporting by individual loans or pools of loans;
- mortgage loan risk analytics using granular risk and loan metrics using MARQ standard weights and End User calibrated risk weightings to generate risk scores;
- expected loss measures generated using MARQ standard weightings and End User calibrated risk weights
- scenario analysis for stressing changes of loan-to-value ratios, interest rates and income levels by geographical regions.
- Risk adjusted profitability measures by calculating net present values of each mortgage loan and pool with expected losses generated using MARQ standards, End User calibration and stressed scenarios
- other advanced features which may also include, credit comparison with rated tranches, and the provision of dynamic LVRs using property indices.
MARQ Product Delivery
MARQ Services will primarily be delivered to Users by MSM through the web with a single secure data base and operational software. MARQ Services are to be delivered via www.MARQServices.com.
MARQ Services Operational Structure
MSM provides MARQ Services with Mòrgij Analytics as the service provider. MARQ Services is a SaaS housed in a secure cloud server.
Morgij Analytics will perform the service of data manager although this may be outsourced to a third party service provider.
General Service Provider:
Mòrgij Analytics is the general service provider to MSM. Specifically it performs the following services on behalf of MSM and End Users:
(i) Manager of www.MARQServices.com.
(ii) Authorised representative of MSM for the purposes of the AFSL.
(iii) Developer of MARQ analytic software
(iv) Collection and storage of mortgage data if not outsourced
(v) End User marketing and promotion
(vi) Business administration.
MARQ Services for Data Providers
(i) Data collection and validating, monthly of all agreed Mortgage Pools
(ii) Training and support for all End Users of www.MARQServices.com
(iii) Storage of mortgage data and MARQ analysis data
(iv) Assistance with data requirements and training of Data Provider’s staff
(v) Any specially requested reports or analysis that MSM is able to provide from the existing data base using MARQ Services.
MARQ Marketing and Promoting Loan Manager to End Users
In addition to MARQ Services above, Mòrgij will market MARQ Services on RMBS and covered bonds to End Users. Mòrgij will provide promotional and educational support to End Users for the MARQ products, reporting, analytics and standards to enable End Users to properly use MARQ analytics to better reflect on the servicing performance of Loan Manager.
MARQ Services does not promote, market or sell rated securities such as RMBS on covered bonds.
Data and Service Protection:
The provision of MARQ Services through the MSM is designed to protect data, the integrity of the software and the guaranteed delivery of MARQ Services for the life of the mortgage pool. Protection mechanisms built into the MSM for the benefit of Data Providers and End Users.
(i) Morgij as Data Manager ensures that the mortgage data remains secure and is only used for MARQ Services’
(ii) The mortgage data is stored in the very secure AWS cloud
(iii) A professional escrow holder holds copies of MARQ software to ensure that the integrity of the MARQ software is never breached and is always available to be used to provide MARQ Services.
MARQ Specifications, Definitions and Data Requirements and Code of Conduct
The following MARQ documents are posted and available on www.MARQServices.com to Loan Manager and all End Users and will be updated from time to time by MSM:
(i) MARQ System Specifications
(ii) MARQ System Loan Risk Characteristics Definitions
(iii) MARQ Score Data Requirements
(iv) MARQ Score Data Spreadsheet Template
(v) Instructions on how best to use www.MARQServices.com.
(vi) MARQ Services Code of Conduct.