Daily market intelligence on mortgages, equity raising, investment sales, and CMBS.

Thursday, 02 March 2006

S&P Sells, Licenses Charter Research CMBS Analytics Unit

The rating agency has sold Charter Research's CMBS database and analytics models to Backshop Inc., a developer of a mortgage-underwriting platform. It has also licensed Charter's data and models to Bloomberg, allowing the information company to market its own CMBS tools.

Commercial Real Estate Direct Staff Report

Standard & Poor's has sold the computer code and CMBS database that served as the backbone for Charter Research, a CMBS analytics provider.

The move spells an end to S&P's five-year foray into the CMBS analytics business.

The rating agency has sold Charter's computer and analytics models as well as its entire CMBS database to Backshop Inc., a Sausalito, Calif., company that developed a technology platform for mortgage origination and underwriting. And it has signed a licensing agreement with Bloomberg, giving the information services company the ability to offer clients a proprietary CMBS modeling application.

It's not clear yet in what direction Backshop will take Charter's code and data. The company, formed by Jim Flaherty, has thus far focused on marketing its origination platform to lenders. But it is planning to roll out a retail application of its origination platform and might be able to integrate data from the Charter database into that. Or it could decide to get into the CMBS analytics and modeling business itself. As part of its acquisition, Backshop acquired use of the Web address www.cmbs.com. Flaherty said the firm had not yet decided what road to take with its recent acquisition.

Meanwhile, the Charter license gives Bloomberg the ability to offer its clients a full menu of bond modeling capabilities.

Bloomberg already offers...





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Data Digest

 

CMBS DELINQUENCY VOLUME

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CMBS SPECIAL SERVICING VOLUME

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Top Bookrunners Domestic, Private-Label CMBS - 2017
Investment Bank #Deals Vol$mln MktShr%
Goldman Sachs 17.59 11,819.34 13.68
JPMorgan Securities 14.52 10,968.11 12.70
Citigroup 12.04 10,012.71 11.59
Wells Fargo Securities 14.02 9,936.06 11.50
Deutsche Bank 12.55 9,879.74 11.44

 

RCA CPPI

 

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CMBS 2.0 Spreads

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Top CMBS Loan Contributors - 2017
Lender #Loans Vol$mln MktShr%
Goldman Sachs 146.89 11,719.34 13.63
JPMorgan Chase Bank 117.68 10,114.14 11.76
Deutsche Bank 198.48 9,689.97 11.27
Morgan Stanley 166.18 8,539.78 9.93
Citigroup 199.05 8,088.24 9.41

 

 

 

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