Andrew Davidson & Co

What Andrew Davidson & Co does

Andrew Davidson & Co., Inc. (AD&Co) is a privately held New York-based risk analytics and consulting firm founded in 1992 by Andrew Davidson, focused on residential mortgage loans and mortgage-backed securities. The company builds and licenses prepayment and credit forecasting models — most notably the LoanDynamics model — alongside valuation tools such as the OAS Subroutine and MacroDynamics. Its analytics are delivered through the Kinetics platform, a modular environment available via desktop application, web browser, and REST API, which hosts applications including LoanKinetics (whole loan analysis), MSRKinetics (mortgage servicing rights risk), PoolKinetics (agency MBS pool pay-up evaluation), and RiskProfiler. A newer Climate Impact Suite extends the product line into climate-related mortgage portfolio risk.

AD&Co monetizes through three revenue streams: model and component licensing (LoanDynamics and related engines used as benchmark analytics), subscription software accessed via the Kinetics platform, and professional services covering risk management, valuation, portfolio strategy, model advising, and litigation support. Pricing is quote-based with annual billing, sold through a consultative enterprise field-sales motion to top mortgage and commercial banks, insurance companies, mortgage insurers, reinsurers, credit unions, broker-dealers, and investment management firms. Distribution combines direct licensing with third-party vendor integrations that embed AD&Co models inside partner platforms, supplemented by a client portal offering Model Demos, the Mortgage Analysis & Reporting System (MARS), and ongoing model validation and tuning.

The firm is organized as a non-hierarchical corporation with offices in New York City, Raleigh, and Sonoma, and operates without institutional or venture capital backing. Strategic activity in the past two years has been measured but accretive: the May 2024 acquisition of Infima, the September 2025 launch of the Climate Impact Suite, a beta release of LoanDynamics v4.0, and the April 2026 addition of former PolyPaths/Numerix Managing Partners Kelli Sayres and Gene Park to the Business Development team. Thought leadership is maintained through The Pipeline newsletter, Quantitative Perspectives, Policy Perspectives, books, white papers, and an industry conference presence, which together reinforce the firm's positioning as a benchmark analytics provider in U.S. mortgage and fixed-income risk management.

Name

Andrew Davidson & Co

Legal name

Andrew Davidson & Co., Inc.

Website

https://ad-co.com

Company type

Private

Founded year

1992

Operating status

Operating

Headcount range

11–50 employees

Short description

Andrew Davidson & Co provides risk analytics and consulting for residential mortgage loans and mortgage-backed securities. Founded in 1992, the firm licenses prepayment and credit models, including LoanDynamics, and delivers applications through the Kinetics platform to banks, insurers, broker-dealers, and investment managers.

Ownership category

akta.pro rank

Product category

Mortgage Risk Analytics Software

NAICS

Real Estate Credit (522292), Credit Intermediation and Related Activities (522)

SIC

Services-Prepackaged Software (7372)

akta.pro primary industry

Automated Valuation Models (AVM) & Property Data/Analytics (FSALALAJ)

akta.pro secondary industry

Product, Pricing & Eligibility (PPE) / Rate Lock & Pricing Engines (FSALALAC)

Keywords

• Mortgage risk analytics
• Prepayment credit modeling
• Fixed-income analytics
• Mortgage-backed securities valuation
• Residential loan analytics

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations

Revenue model

1. Model Licensing: License prepayment and credit models including LoanDynamics to banks, insurance companies, mortgage insurers, reinsurers, credit unions, broker-dealers, and investment management firms. Models are used as benchmark analytics in the industry.
2. Software and Applications: License proprietary applications including LoanKinetics, MSRKinetics, and PoolKinetics via the Kinetics platform. Available through Excel interface, executables, web browser, and REST API.
3. Consulting Services: Risk management, valuation, portfolio strategy, model advising, and litigation support consulting engagements.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels6 records

Core offering

Andrew Davidson & Co licenses proprietary prepayment, credit, and valuation models and analytics software for residential mortgage loans and mortgage-backed securities. Its core offering centers on the LoanDynamics model and the modular Kinetics platform (delivered via Excel, executable, desktop, web browser, and REST API), with applications including LoanKinetics, MSRKinetics, PoolKinetics, RiskProfiler, OAS Subroutine, MacroDynamics, and the Climate Impact Suite, complemented by consulting services for risk management, valuation, and litigation support.

Product overview

Andrew Davidson & Co offers a suite of analytical solutions for residential mortgage loans and mortgage-backed securities, centered around the Kinetics modular platform. The core offering includes LoanDynamics Model (prepayment and credit forecasting) and Climate Impact Suite (climate risk measurement). The Kinetics platform delivers multiple applications including LoanKinetics (whole loan analysis), MSRKinetics (MSR risk assessment), and PoolKinetics (MBS pool pay-up evaluation). Additional tools include RiskProfiler and the OAS Subroutine for valuation. Products are delivered through direct licensing, third-party integrations, and consulting services. Founded in 1992, the company serves top mortgage and commercial banks, insurance companies, mortgage insurers, reinsurers, credit unions, broker-dealers, and investment management firms.

Differentiator

Problem solved

Functional benefit

Products and services

• LoanKinetics Multi-functional whole-loan application that evaluates legacy and newly originated residential mortgage loans, projecting credit performance, assessing value via multiple approaches, and performing loan loss analysis for reserving and attribution; available via Excel, executable, and the Kinetics platform.
• MSRKinetics Kinetics application focused on assessing mortgage servicing rights (MSR) risk, evaluating MSR and projecting the impact of hedging with mortgage-backed securities (MBS) and TBAs.
• PoolKinetics Modular Kinetics offering that evaluates specified agency MBS pools' pay-ups by assessing values relative to TBAs, providing theoretical pay-up (value difference based on OAS) and practical pay-up (limited user-defined holding horizon).
• RiskProfiler Risk measurement application for analyzing mortgage loans and mortgage-backed securities, providing clients with standardized risk views over loan and pool-level exposures.
• Kinetics Platform Modular analytics platform for running AD&Co's prepayment, credit, MSR, and pool analytics via desktop application, web browser, or REST API, allowing clients to license only the models and analytics they need.
• LoanDynamics Model Proprietary prepayment and credit model that forecasts prepayments, defaults, and severities for mortgage portfolios; available via Excel, executable integration, and the Kinetics platform, and used as a benchmark analytics standard across the industry. Version 4.0 Beta is currently available.
• Climate Impact Suite Solution for measuring climate-related risk in residential mortgage portfolios, providing portfolio-level visibility into physical and transition climate exposures for lenders, servicers, and investors.
• OAS Subroutine Option-Adjusted Spread (OAS) calculation subroutine used as a valuation tool for improving valuation, hedging, and risk management decisions on mortgage and fixed-income securities.
• MacroDynamics Macro risk model component within AD&Co's analytical suite, integrated with OAS valuation routines to model interest-rate-driven dynamics for mortgage and fixed-income portfolios.
• AD&Co Consulting Services Professional consulting services spanning Litigation Support, Model Advising, Portfolio Strategy, Risk Management, and Valuation for clients in mortgage and fixed-income finance.

Quantifiable outcome

• LoanDynamics Model v4.0 released as beta
• +2 more outcomes

Named customers7 records

Segments12 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Feature8 records

Partnerships

Four partnerships are on record, tiered core and supportive.

• Kelli Sayres (Individual)coreOthers · 29 April 2026Kelli Sayres joined AD&Co's Business Development team in April 2026. Formerly Managing Partner at PolyPaths, she brings experience scaling fixed-income analytics platforms and previously partnered with AD&Co as a vendor, distributing AD&Co models on the PolyPaths platform. Most recently worked at Numerix following leadership of PolyPaths through its strategic sale to Numerix.
• Gene Park (Individual)coreOthers · 29 April 2026Gene Park joined AD&Co's Business Development team in April 2026. Formerly Managing Partner at PolyPaths, he brings experience scaling fixed-income analytics platforms and previously partnered with AD&Co as a vendor, distributing AD&Co models on the PolyPaths platform. Most recently worked at Numerix following leadership of PolyPaths through its strategic sale to Numerix.
• Consumer Data Industry Association (CDIA)supportiveOthersCDIA backed AD&Co's research findings supporting the tri-merge credit report standard, calling single-bureau pulls reckless and stating the current system is not broken. This aligns with AD&Co's published research on credit score discrepancies.
• Third-Party Vendors (Integrated Systems)supportiveTechnology or IntegrationVarious third-party vendors have integrated AD&Co models into their systems, allowing clients to access AD&Co analytics through vendor platforms.

Scale indicators2 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• MSCI: MSCI provides portfolio analytics, risk models, and index/data services across asset classes including structured credit/MBS. It overlaps with AD&Co's MBS valuation and risk analytics, though MSCI operates at vastly greater scale and broader scope.
• Fiserv: Fiserv is a broad fintech and financial services technology provider serving banks, credit unions, and lenders. It overlaps with AD&Co's mortgage banking and credit union customer segments as part of a much wider product portfolio.
• SS&C Technologies: SS&C Technologies provides a wide range of financial services software including portfolio and accounting platforms for asset managers, hedge funds, and banks. It overlaps with AD&Co's institutional MBS analytics use cases as part of a much larger financial software portfolio.
• ICE Mortgage Technology (Black Knight): ICE Mortgage Technology (formerly Black Knight) is the dominant integrated mortgage technology provider, offering origination, servicing, and analytics platforms. It competes with AD&Co in the analytics space as part of a much broader product portfolio and has the scale advantage AD&Co lacks.
• Bloomberg: Bloomberg's terminal and enterprise data products include fixed-income analytics and MBS pricing tools widely used by the same institutional clients that license AD&Co models. It is a broader incumbent whose pricing and analytics compete for the same wallet share.
• Wolters Kluwer: Wolters Kluwer's Financial & Corporate Compliance unit (formerly Wolters Kluwer Lien Solutions) provides compliance, risk, and regulatory analytics for financial institutions. It overlaps with AD&Co's mortgage compliance and risk analytics use cases from a broader enterprise software standpoint.

Direct peers

• CoreLogic (Cotality): CoreLogic (now branded Cotality) is a major provider of property data, valuation, and analytics for the mortgage and real estate industries. It competes with AD&Co's LoanDynamics and valuation tooling from a property-data-driven perspective.
• Numerix: Numerix provides cross-asset analytics for fixed-income, derivatives, and structured products. It directly competes with AD&Co in fixed-income/MBS analytics and recently acquired PolyPaths — a former AD&Co distribution partner — intensifying competitive overlap.
• Optimal Blue: Optimal Blue is a leading provider of mortgage pricing and eligibility (PPE) engines, secondary marketing analytics, and MBS pool trading tools. It directly competes with AD&Co's LoanDynamics, OAS Subroutine, and PoolKinetics products across banks and broker-dealers.

Emerging players

• Polypaths: PolyPaths was a fixed-income analytics platform that previously distributed AD&Co models on its platform before being acquired by Numerix. It is comparable to AD&Co as a niche fixed-income/MBS analytics vendor focused on the same institutional buyer.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/adcoanalytics
• LinkedInlinkedin.com/company/andrew-davidson-&-co-inc-

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Andrew Davidson & Co