PeerStreet's view is that by performing its own due diligence on borrowers using a software - based
underwriting engine, the company can match high - quality
debt with a growing crop of
yield - hungry investors.
Underwriting volume this year for high -
yield securities, known widely on Wall Street as junk
debt, has sunk at firms such as Merrill Lynch, Citigroup, Lehman Brothers and JPMorgan Chase, adding more salt to the wounds already inflicted by massive losses on souring mortgage securities.