Pools Overview
Learn
what pools are and how they work in structured finance transactions
Overview
Pools are collections of loans grouped together for
securitization, whole loan sales,or other structured finance transactions. They
serve as the fundamental buildingblocks for presenting loan portfolios to
market makers, investors, and ratingagencies. As an issuer, you create pools,
map loans from your Loan Registry, andshare them with other organizations for
review and deal progression.
What
Pools Are
A pool is a container that holds multiple individual loans,
organizing them into asingle transaction unit. When you create a pool, you
group related loans together topresent them as a cohesive investment
opportunity or transaction package. Poolsaggregate loan-level data into
meaningful metrics that help all parties understandthe pool's characteristics,
risk profile, and investment potential.
Pools are dynamic—you can add loans, remove loans, and share
them with otherparties for review and collaboration. The platform automatically
calculatesaggregate metrics from all loans in a pool, and these metrics update
automaticallywhen loans are added or removed.
Purpose and Use Cases
Pools serve several important purposes in structured finance:
For Securitization Transactions - Pools organize loans that will be packaged intosecurities and sold to investors. By grouping loans into pools, you can present adefined set of collateral for securitization structures.
For Whole Loan Sales - Pools present loans for
potential buyers. Investors canreview pool characteristics and individual loan
details.
For Transaction Management - Pools provide a
structured way to manage the entire transaction process from creation through
deal completion. Status progression tracks where each pool is in the workflow.
For Collaboration - Pools enable collaboration
between issuers, market makers, investors, and rating agencies. Sharing
controls determine what each party can see and do.
For Analysis - Pools aggregate loan data into
meaningful metrics that help all parties understand pool characteristics,
assess quality, and make informed decisions
Key Components
Pool Information - Basic details about the pool including pool name (must beunique), asset class (auto loans, personal loans, mortgages, commercialmortgages, etc.), transaction type (securitization, whole loan sale, etc.),description, and closing deal indicator. These details are entered when you set upthe pool and can be edited while in Created or Preview status.
Organization Assignments - Organizations assigned to participate in thetransaction: market makers for structuring, investors for funding, servicers for loanadministration, paying agents for payment distributions, rating agencies foranalysis, and verification agents for loan verification. You select theseorganizations during pool setup, and only assigned organizations appear as optionswhen you share the pool.
Mapped Loans - Individual loans that have been assigned to the pool from the LoanRegistry. Loans can only belong to one pool at a time. When loans are mapped,they contribute their balance, characteristics, and data to pool-level metrics. TheLoans tab in pool details shows all mapped loans with action icons for feedbackand loan rejection handling.
Pool Metrics - Aggregate statistics calculated automatically from mapped loans.These metrics are displayed in summary tiles at the top of the pool details page andupdate automatically when loans are added, removed, or reinstated.
Pool Details Sections - Within the pool details page, you have access to:
• Summary Section : Charts and analytics showing pool composition and loandistributions
• Loans Tab : All mapped loans with their key fields and action icons (tick, cross,chat box for feedback and loan rejection handling)
• Loan Tape Section : Detailed loan-level data for both mapped and unmappedcolumns (unmapped columns show headers in italic). You can select different"As Of Date" values to view loan data for different reporting periods and download loan data in XLSX or CSV format
• Strats Section : Stratification analytics showing distributions by various loancharacteristics
• Performance Section : Performance analytics for loans in the pool
• Feedback Section : Pool-level feedback from market makers, investors, andother shared parties (issuers can view but not add pool-level feedbackthemselves)
• Sharing Tab : Shows all organizations shared with and their current permissions(feedback, download)
Status - The current stage of the pool in its workflow. Pool status progressesthrough Created → Preview → Deal. Status determines what actions are availableand what editing is permitted.
Sharing Configuration - Settings that control which organizations can see the pooland what they can do with it. Permissions include view access, feedback capability,and download capability. Permissions are set per organization and can be adjustedin the Sharing tab.
How Pools Work
Creation - You create a pool by clicking Set-up Pool in the Pools dashboard andentering basic information: pool name, asset class, transaction type, description,and closing deal indicator. You also select organizations (market makers, investors,servicers, paying agents, rating agencies, verification agents) that will be availablefor sharing later. The pool starts in Created status, visible only to you, ready for loanmapping and configuration.
Pool Creation - Issuer
Loan Mapping - You map loans to the pool from the Loan Registry section (notfrom within pool details). In Loan Registry, you select unmapped loans and click Map to Pool , then choose the target pool from a dropdown. When loans aremapped, pool metrics calculate automatically. You can view mapped loans in thepool's Loans tab.
Loan Map to Pool - Issuer
Sharing (Preview Flow) - You share pools with other
organizations by clicking Share in pool details. You select recipient type,
choose from assignedorganizations, and set permissions (feedback, download).
When shared, the poolstatus becomes Preview (if it was Created). Recipients see
the pool as Mandate Pending with Accept/Reject actions. Before accepting, market
makers cannotprovide feedback. After a market maker accepts, their view shows Under
Review and feedback becomes available.
Pool Sharing - Issuer
Pool Details - When viewing pools, you access comprehensive information: poolmetrics in summary tiles, loan composition in the Loans tab, detailed loan data inthe Loan Tape section (with As Of Date selection and download), stratificationanalytics in Strats, performance analytics in Performance, pool-level feedback inFeedback, and sharing configuration in Sharing. The Edit button provides options toedit pool details or upload recurring loan tapes.
Pool Details - Issuer
Start Deal Flow - When prerequisites are met
(typically all pool loans NFT-minted),the Start Deal button becomes
enabled. Start Deal sends the pool to recipients with status Ready for Deal.
When a market maker accepts, the pool becomes a Deal and structural
editing is restricted.
Status Progression - Pools progress through statuses:
Created → Preview (when shared) → Deal (when accepted via Start Deal). Each
status represents a specific stage with appropriate controls. In Created and
Preview, you can edit the pool. In Deal, editing is restricted.
Collaboration - Multiple parties work together on
pools. Issuers create and share;market makers review, accept mandates, and can
share further with investors;investors evaluate and provide feedback; rating
agencies analyze for ratings. Each role sees appropriate views and actions.
Important Points to Know
Automatic Metric Calculation - Pool metrics calculate automatically from mappedloans and update automatically when loans are added, removed, or reinstated.
One Pool Per Loan - Loans can only belong to one pool at a time. To move a loan toa different pool, unmap it from the current pool first.
Status Controls Actions - Pool status determines what actions are available. Youcan edit pools in Created or Preview status, but editing is restricted once poolsbecome Deals.
Sharing Permissions - Permissions (feedback, download) are set per organizationand control what recipients can do. You can adjust permissions in the Sharing tab.
Preview vs Start Deal - Preview sharing allows recipients to review andaccept/reject mandates while you retain editing rights. Start Deal sends a finalizedpool (after NFT minting) and results in Deal status when accepted.
Loan Rejection Handling - In the Loans tab, action icons allow handling of loanrejection requests from market makers. Tick accepts the rejection (loan marked asRemoved); cross rejects the rejection request.
Loan Tape Downloads - The Loan Tape section allows selecting different As OfDate values for periodic loan data and downloading in XLSX or CSV format.
Feedback Levels - Feedback can be pool-level (in the Feedback section) or loan-level (via chat box icon in Loans tab). Issuers can view pool-level feedback but addcomments through loan-level feedback.
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