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Feature Highlight [Done]

Dynamic Income

Dynamic Income enhancements allow users more flexibility when modeling income within a deal. When a user creates a deal, they have the option to add new income units, in addition to the existing income fields. With this capability, user can add and set the new income's name and

Production Tax Credit (PTC)

On T-REX the PTC, (Production Tax Credit) can be defined per project. The user can define the PTC under the CapEx & Tax tab within the Project Editor. The Production Tax Credit is a Federal Incentive that provides a Tax Credit of $ amount per kilowatt-hour for 10 years after the

Investment Tax Credit (ITC)

On T-REX the ITC, (Investment Tax Credit) can be defined per project. The user can define the ITC under the CapEx & Tax tab within the Project Editor. The ITC is a US Federal Tax Incentive for Business Investment which allows individuals or businesses to deduct a certain percentage of

Project Finance Loan Sizing

The T-REX Loan Sizing tool can be used within Energy Project Finance deals. This tool allows solar project developers, lenders, rating agencies, and other parties involved in the transaction process to structure and size loans based on target Debt Service Coverage Ratios (DSCR) under any defined Scenario. How the Loan

Commercial PACE Functionality

T-REX allows for functionality to support the nuances of the Commercial PACE (C-PACE) market. This update provides increased flexibility and functionality for users interested in modeling C-PACE asset cash flows. How the C-PACE Functionality is Used: The new C-PACE functionality is used in structuring C-PACE asset cash flows and ABS

[Solar Project] Levered After-Tax IRR

The Pro-Forma report and Price Yield reports for Solar Projects can now account for the effects of Tax and Leverage. We added a Tax Settings section under the General tab for users to enter federal and state income tax rates and dictate the behavior of tax and ITC recognition. Depreciation

Variable Interest Accrual Days

Interest Accrual days give the user the flexibility to define any interest payment schedule in the manner they choose. While the majority of loan’s interest payments are accrued by a standard period such as each month or semi-annually, some loans accrue interest by the actual number of accrual days,

YSOC

Yield Supplement Overcollateralization (YSOC). When there is a low yielding bond, there is a goal to compensate potential investors. Thus, calculations for the difference between the value of the future scheduled cash flows at the current rate need to be made. Then the difference between the value of the future

Forbearance

Users can stress loans for a start of Forbearance, which is when a loan temporarily pauses payments and further payments are deferred. The loan will resume payments at the end of the forbearance period until maturity. T-REX allows for the simulation of loan forbearance through the Scenario analysis. The user

Loan Sizing

Loan Sizing is available within asset financing deals, which have loans backed by Solar Projects (called Solar Loans within the T-REX platform). Loan Sizing is an extra tab added to the Loan Editor. This feature, allows the user to design a loan, based on an existing project and given data,

Loan Fee Enhancements

Within the Loan Editor, a user may assign a loan with a fee. Loan Fee may be characterized in different ways. To address all sorts of fees in the loan market, we developed a set of fee enhancements. * Net Rate: Automatically calculated out of Gross rate and Fee. * Fee as

Revolvers

To define a Revolving Loan Facility, users must define a facility with the ability to reuse the paid funds automatically. When the user defines a loan, and a quota, each period it is assumed that this quota is completely withdrawn and used to originate a new loan. Which means the

Tax Credits and Depreciation

T-REX offers a number of ways of modeling Tax, Tax Credit, and Depreciation Schedules on the platform. Depreciation Basis The user can define depreciation for each project, under Projects>CapEx&Tax. The depreciation can be calculated based on COGS (Cost of Goods Sold) or FMV (Fair Market Value)

Tax Credit

For Loans Only: The Tax Credit field allows for an input amount of a government tax credit amount to be plugged in under the Tax Credit Balance field. The Tax Credit field is under Pace Deal > Loans Section > Additional Parameters tab. The assumption that this amount of money

Principal Payment Methods

Principal Payment Methods * Level Pay * Allocated Level Pay * Reallocated Scheduled Payments * Scheduled Principal * Scheduled Payment * Reamortized Scheduled Payments

Level Pay

One of the payment methods T-REX offers is Level Pay.  With Level Pay, the payment will be fixed for the entire term of the loan, it is calculated using the PMT function, and the interest and principal will be derived from it on a monthly basis (unless otherwise specified).  Example:

Scheduled Payment

One of the payment methods T-REX offers is Scheduled Payments.  With Scheduled Payments, the payment will be fixed for the entire term of the loan, as set in the Scheduled Payments column, it can also be set as a Vector. The interest is calculated regularly, and the principal will be

Scheduled Principal

One of the payment methods T-REX offers is Scheduled Pricipal.   With Scheduled Principal, the principal will be fixed for the entire term of the loan, as set in the Scheduled Principal column, it can also be set as a Vector. The interest is calculated regularly, and the final payment is

Allocated Level Pay

One of the payment methods T-REX offers is Allocated Level Pay payment method.  With Allocated Level Pay, the payment will be fixed for the entire term of the period, and is calculated using the PMT function, on a yearly basis. The interest payment will be re-calculated based on the chosen

Reamortized Scheduled Payments

One of the payment method T-REX offers is Reamortized Scheduled Payments.   With Reamortized Scheduled Payments, the payment will be fixed for the periods defined under Months to Reamort column, then the payment will default to the Level Pay payment method. The interest is calculated regularly, and the principal will be

Reallocated Scheduled Payments

Several payment methods can allow for loan amortization. Some use two methods combined, while the loan starts to amortize by one, and in the course of the loan’s life, the method changes. Here is a spotlight on the Reallocated schedule payment method, which initial uses scheduled payments and then

Vectors

Vectors are a useful tool throughout the T-REX platform which allow users to define a value or a range of values for an input or variable that may remain constant or fluctuate at different periods of time.   Vector Functionality Anytime an input field values includes a blue pencil icon  a

Recovering Historical Delinquency

Delinquent Interest and Delinquent Principal are collected historically and displayed in Cash Flow Reports within a deal. By default, these values are not recovered and create a cash leak at the loan.  Example: Two historical delinquencies cause a $1m loan to leak $30K of its balance.   Within the Scenario tab,

Accessing Collateral Variables Across a Segment of the Portfolio

Collateral Variables at the Segment level, allow users to account for heterogeneity within the portfolio and to adequately transfer it to the Bonds via the Custom Waterfall. For instance, it is common to want to segment a collateral portfolio by its credit attributes and then partition the payments, allocations and

Cashflow Groups

Cashflow Groups are designed to help the user specify specific cash flow streams to specific uses in the deal. The Cash Flow Groups are defined under the Collateral Editor, this is supported under all asset types.  Defining Cash Flow Groups (Loans will be used in the Example below.)  First, the

Performance Data Graphs Seasoning Feature

Overview Seasoning Charts enable users to compare the trajectories of multiple cohorts on a common timeline. Users can perform Vintage or other cohort-based analysis, evaluating the behavior of an asset over its life and comparing to others. Detailed Functionality Description Prerequisite: Performance data must include a Seasoning Start Date to

Multiple Dates In Concentration Tables

Concentration Risk Tables support multiple dates in T-REX. To add a Concentration Table to your Report widget: Users must select a Data Source and Asset Type.  When selecting a Date, the user can use the multi-select to choose each of the dates they would like to compare. New options are

Concentration Risk Table - Sub Buckets

Users can now create Sub Buckets in their Concentration Tables on T-REX! A new set up tool allows multiple nested Buckets to be created, akin to a pivot table, and display totals for each bucket. Detailed Functionality Description Set-up allows users to define Buckets for multiple sub-segmentation. Totals and subtotals

Concentration Risk Table Set Up Tools

Concentration Table Set Up saves time with tools that automatically define the rows in your Concentration Tables. Define ranges for numeric data by setting the number of steps between the Minimum and Maximum values and set discrete Buckets for text data by selecting the fields to bring into the table.

Deal Scenario Groups

Within the Collateral tab of the Collateral engine, "Deal Scenario Groups" enable you to name and therefore create different scenario groups and apply individual assumptions to just those groups. With Deal Scenario Groups, you can apply different stresses to different components of a collateral pool, for example, specific

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