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My Credit method

In MyCredit, the management of NPLs takes place through a territorial approach by carrying out concrete market researches on the marketability of properties. The expert evaluation is an important technical element, but it is the real price indicated by the market which really makes the difference.
At MyCredit, the management of NPLs takes place through a supportive approach that involves direct contact with the debtor and a planned step-by-step procedure. It is therefore possible to bridge the gap between the transfer value and the real market value of the collateral, through a customized method called Coaching.


MyCredit securitizes 190 million NPL loans

My Credit Spa, a company specialized in the valorization of NPL and UTP Secured assets and portfolios, acted as Arranger and Noteholder in the new securitization of Brenta SPV.  

The transaction also involved Gardant - through its subsidiary Master Gardant S.p.A. - in the role of Servicer, Corporate Services Provider, Paying Agent, Calculation Agent and Representative of the Noteholders.
The securitization has as its underlying impaired loans largely backed by mortgage guarantees, sold by a leading banking group with participation from 27 banks in the group, as well as loans sold by another securitization vehicle, with an underlying collateral collateral consisting in total of more than 1,000 real estate assets.
For the legal aspects, My Credit was assisted by Andersen with attorneys Marco Giorgi and Andrea Ferrandi; Master Gardant S.p.A. was instead assisted by Eversheds Sutherland with attorneys Umberto Mauro and Rossella Severi.

"We are particularly pleased with the finalization of this transaction, entirely structured by the MyCredit team together with all the partners mentioned who provided support: an important milestone for the growth of our group, firmly positioned in the real estate non-performing market," said Mirko Tramontano, CEO of MyCredit.                         
"This transaction confirms the centrality of the master servicing and securitization services business in the Gardant Group's strategy, which aims to offer its partners the widest parterre of high value-added services and solutions in the world of receivables and related capital markets structures," said Paolo Peruzzetto, Head of Business Development at Gardant.