Clearwater Analytics Powers Sophisticated REIT Accounting and Reporting for New York-based Chimera

Clearwater Analytics, a leading provider of SaaS-based investment accounting, reporting, and analytics solutions, announced Chimera Investment Corporation, an internally managed real estate investment trust (REIT) headquartered in New York City, has implemented Clearwater to provide investment data transparency while supporting sophisticated accounting requirements.

To meet their obligations and regulations, REITs require a significantly high level of investment data quality and transparency. Historically, REITs have relied heavily on extensive internal processes that are difficult to manage and scale, because legacy investment accounting solutions were not designed for them. Chimera maintains a diversified investment portfolio that includes residential mortgage l****, non-agency and agency residential mortgage-backed securities (which includes interest only and principal only), and agency commercial mortgage-backed securities.

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“Clearwater demonstrated to us a solution built and ready to handle the complexity of our portfolio,” said Kelley Kortman, Chief Accounting Officer at Chimera. “We look forward to taking advantage of a platform that will scale with us and stay continually updated in alignment with market conditions and ever-changing regulatory requirements.”

Clearwater’s solution provides Chimera with automated investment data management, accounting, reporting, and analytics that is consistent, accurate, and fully transparent. Clearwater also provides configurable tax basis reporting in parallel with Generally Accepted Accounting Principles (GAAP) requirements.

“Clearwater’s commitment to providing innovative solutions to serve complex portfolios, including daily amortization, daily book prices, amortization banding, and alternative asset class coverage, is resonating strongly with REITs,” said Scott Erickson, President, Americas and New Markets at Clearwater Analytics. “We are excited to partner with Chimera, a leader in this market, and provide the infrastructure they need to support their business goals, especially their continued growth.”

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