The MISMO rent roll and operating statement committee which I co-chair finished its work on the XML schema today (thanks to all committee members!).
The schema we propose is capable of handling all common data templates for both Rent Rolls and Operating Statements. The schema will be made public around the first of the year for its 30 day Intellectual Property Review period and then, hopefully, be ready for finalization by the MBA CREF Conference in early February.
MISMO’s goals for 2010 include promoting the adoption of these standards as an essential part of improving risk management, investor reporting, and compliance with the new transparency requirements of the pending financial reform legislation.
Some color on the two schemas:
Rent Rolls
The biggest concept of the rent roll schema is Rent Roll Template Type. We came up with four templates that are commonly used to handle commercial properties, multi-unit properties (in both summary and detail mode), hotel properties and healthcare. The data schema will support all the essential data elements for the major property types. Specifically: retail, office, industrial, apartments, mobile homes, self storage, hotels, assisted living and skilled nursing properties are covered.
Operating Statements
The biggest concept in the Operating Statements schema is also the concept of template types. Unlike the four templates that were needed for rent rolls, we have already needed 10 templates for op statements. The goal is to have an all-encompassing list of NOI categories (the current list has 234 items) and then provide templates that can roll up by user group. Of the 10 we have already planned for, we have eight to support the CMSA’s IRP templates, and we plan to have one each for Freddie Mac and Fannie Mae. Unlike the data for rent rolls, the list of NOI categories is endless so we went with a roll up approach with easy template expansion capabilities.
I’ll post the final package on this site when it is ready.
— — —
Jim Flaherty is CEO of CMBS.com and the creator of the Backshop loan origination system. He is a trained credit professional with experience installing enterprise underwriting systems for commercial real estate lenders, rating agencies and investors.
I spent Thanksgiving in New York City this year with my family.
My kids had never been to NYC so we sampled some of the great things The City has to offer including the Empire State Building, the Statue of Liberty, the museums and the Macy’s Thanksgiving Day Parade.
A week like that certainly makes you thankful.
View from the top of the Empire State Building.
Macy’s Thanksgiving Day Parade > Snoopy
Macy’s Thanksgiving Day Parade > Sponge Bob
Statue of Liberty
— — —
Jim Flaherty is CEO of CMBS.com and the creator of the Backshop loan origination system. He is a trained credit professional with experience installing enterprise underwriting systems for commercial real estate lenders, rating agencies and investors.
I am just back from our 2009 Backshop user conference in New York. Bank of America hosted it in a beautiful board room overlooking Bryant Park. About 10 clients invested the day with us to go over our accomplishments from last year and help set priorities for next year.
Backshop User Conference
We unveiled our new look for Backshop that we undertook as part of converting Backshop from a ASP/ASP.NET hybrid application to a 100% .NET application.
The new look and feel was really well received, and we got some good feedback on some additional design tweaks. Check out the Backshop web site in the near future as we will be adding a Software Tour section featuring the new design.
We also had time for informal discussions on customers’ outlooks for 2010 and beyond. I would say no one expects 2010 to be a good year as far as originations go. The belief is a few low leverage deals will get done, but traditional conduit origination will be small.
Asset management and deleveraging were much more the talk than originations. However, for the first time in a while people were talking about some allocation of capital for 2010 new loans, so we will see.
Into the belly of the beast.
Metallica!
The real fun started on Saturday night when a group of 16 of us met at Stout Bar (on west 33rd street) for a pre show dinner.
We got to the Metallica show right when the house lights dimmed and watched them kick off the show. As usual (this was my 7th time seeing this show), they were awesome. Sellout crowd, downtown New York City, flames, lasers and 20,000 outlets of energy.
While I was cruising around back stage, I ran into John McEnroe getting a drink in the green room. Last time I had seen him was at a Metallica show a few years ago out in the Meadowlands. He is a big fan.
The after party was at Del Posto, a great restaurant owned by Joe Bastianich and Mario Batali on 10th Avenue at 16th street.
We arrived with about half the crew still standing and all got in and had a great time. I went to Boston College with Joe and we played rugby together (I was the hooker, he was a prop) so it was good to see him also.
I got to spend a few minutes with Lars and could not thank him enough for the hook up. Food, drink and famous people. Not a bad way to spend an evening.
Robert and Lars rock the bass and beat.
Metallica plays “Turn the Page” at Madison Square Garden:
— — —
Jim Flaherty is CEO of CMBS.com and the creator of the Backshop loan origination system. He is a trained credit professional with experience installing enterprise underwriting systems for commercial real estate lenders, rating agencies and investors.
https://www.cmbs.com/wp-content/uploads/2019/03/cmbslogo030619.png00jimflahertyhttps://www.cmbs.com/wp-content/uploads/2019/03/cmbslogo030619.pngjimflaherty2009-11-17 20:36:562020-09-16 20:39:59Backshop user conference and Metallica show
Standards Update
/0 Comments/in Industry standards /by jimflahertyThe MISMO rent roll and operating statement committee which I co-chair finished its work on the XML schema today (thanks to all committee members!).
The schema we propose is capable of handling all common data templates for both Rent Rolls and Operating Statements. The schema will be made public around the first of the year for its 30 day Intellectual Property Review period and then, hopefully, be ready for finalization by the MBA CREF Conference in early February.
MISMO’s goals for 2010 include promoting the adoption of these standards as an essential part of improving risk management, investor reporting, and compliance with the new transparency requirements of the pending financial reform legislation.
Some color on the two schemas:
Rent Rolls
The biggest concept of the rent roll schema is Rent Roll Template Type. We came up with four templates that are commonly used to handle commercial properties, multi-unit properties (in both summary and detail mode), hotel properties and healthcare. The data schema will support all the essential data elements for the major property types. Specifically: retail, office, industrial, apartments, mobile homes, self storage, hotels, assisted living and skilled nursing properties are covered.
Operating Statements
The biggest concept in the Operating Statements schema is also the concept of template types. Unlike the four templates that were needed for rent rolls, we have already needed 10 templates for op statements. The goal is to have an all-encompassing list of NOI categories (the current list has 234 items) and then provide templates that can roll up by user group. Of the 10 we have already planned for, we have eight to support the CMSA’s IRP templates, and we plan to have one each for Freddie Mac and Fannie Mae. Unlike the data for rent rolls, the list of NOI categories is endless so we went with a roll up approach with easy template expansion capabilities.
I’ll post the final package on this site when it is ready.
— — —
Jim Flaherty is CEO of CMBS.com and the creator of the Backshop loan origination system. He is a trained credit professional with experience installing enterprise underwriting systems for commercial real estate lenders, rating agencies and investors.
www.cmbs.com
www.backshop.com
Thanksgiving 2009
/0 Comments/in Company history /by jimflahertyI spent Thanksgiving in New York City this year with my family.
My kids had never been to NYC so we sampled some of the great things The City has to offer including the Empire State Building, the Statue of Liberty, the museums and the Macy’s Thanksgiving Day Parade.
A week like that certainly makes you thankful.
View from the top of the Empire State Building.
Macy’s Thanksgiving Day Parade > Snoopy
Macy’s Thanksgiving Day Parade > Sponge Bob
Statue of Liberty
— — —
Jim Flaherty is CEO of CMBS.com and the creator of the Backshop loan origination system. He is a trained credit professional with experience installing enterprise underwriting systems for commercial real estate lenders, rating agencies and investors.
www.cmbs.com
www.backshop.com
Backshop user conference and Metallica show
/0 Comments/in Company history, What's going on /by jimflahertyI am just back from our 2009 Backshop user conference in New York. Bank of America hosted it in a beautiful board room overlooking Bryant Park. About 10 clients invested the day with us to go over our accomplishments from last year and help set priorities for next year.
Backshop User Conference
We unveiled our new look for Backshop that we undertook as part of converting Backshop from a ASP/ASP.NET hybrid application to a 100% .NET application.
The new look and feel was really well received, and we got some good feedback on some additional design tweaks. Check out the Backshop web site in the near future as we will be adding a Software Tour section featuring the new design.
We also had time for informal discussions on customers’ outlooks for 2010 and beyond. I would say no one expects 2010 to be a good year as far as originations go. The belief is a few low leverage deals will get done, but traditional conduit origination will be small.
Asset management and deleveraging were much more the talk than originations. However, for the first time in a while people were talking about some allocation of capital for 2010 new loans, so we will see.
Into the belly of the beast.
Metallica!
The real fun started on Saturday night when a group of 16 of us met at Stout Bar (on west 33rd street) for a pre show dinner.
We got to the Metallica show right when the house lights dimmed and watched them kick off the show. As usual (this was my 7th time seeing this show), they were awesome. Sellout crowd, downtown New York City, flames, lasers and 20,000 outlets of energy.
While I was cruising around back stage, I ran into John McEnroe getting a drink in the green room. Last time I had seen him was at a Metallica show a few years ago out in the Meadowlands. He is a big fan.
The after party was at Del Posto, a great restaurant owned by Joe Bastianich and Mario Batali on 10th Avenue at 16th street.
We arrived with about half the crew still standing and all got in and had a great time. I went to Boston College with Joe and we played rugby together (I was the hooker, he was a prop) so it was good to see him also.
I got to spend a few minutes with Lars and could not thank him enough for the hook up. Food, drink and famous people. Not a bad way to spend an evening.
Robert and Lars rock the bass and beat.
Metallica plays “Turn the Page” at Madison Square Garden:
— — —
Jim Flaherty is CEO of CMBS.com and the creator of the Backshop loan origination system. He is a trained credit professional with experience installing enterprise underwriting systems for commercial real estate lenders, rating agencies and investors.
www.cmbs.com
www.backshop.com