Seeing the Blue Angels perform over San Francisco Bay makes me proud to be a taxpayer!
In the world of multi-billion dollar government bailouts and endless deficits, seeing the US Military burning some fuel and pulling Gs seems to make things feel better.
The market up 11 percent helps a bit too. Enjoy the pics.
Politics and the CMBS industry have become sudden (and strange) bedfellows, but recent developments may help bring open transparency to both parties.
The Department of the Treasury recently issued an RFP titled “Notice to Financial Institutions Interested in Providing Whole Loan Asset Management Services for a Portfolio of Troubles Mortgage-Related Assets.”
This is a huge opportunity.
From the RFP:
“In furtherance of its mission to ensure the safety and soundness of the U.S. financial system, and to implement the Emergency Economic Stabilization Act of 2008 (Act), the Treasury is establishing a program to purchase a variety of troubled assets. Accordingly, the Treasury seeks one or more Financial Institutions to provide asset management services for a portfolio of dollar-denominated mortgage whole loans that the Treasury will acquire from Financial Institutions.”
The submission deadline was 5 p.m. ET today, and we proposed that the government name Backshop as the CMBS reporting standard.
From our cover letter:
“While the CMBS market represents only 15% to 20% of the securitized “problem,” Backshop and CMBS.com are uniquely positioned to help solve this part of the problem. We provide the software and the data required to power a common underwriting platform that provides needed transparency into the value of the underlying assets. …”
After all, we believe the appointed asset managers should report to the DOT — and the taxpayers — in an open and transparent way.
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.pngjimflaherty2008-10-08 00:43:062020-09-17 00:44:53The Mother of All RFPs
This week is one of my favorites. The Blue Angels are coming to town, and the weather is looking nice. The Blue Angels fly starting on Thursday through Sunday. We will be on the boat later this week and will post some cool pics as we get them.
Speaking of cool pics, the Maltese Falcon arrived in San Francisco last week. Owned by Tom Perkins, the Maltese Falcon is the largest private sailing vessel in the world, and it is impressive to say the least: www.symaltesefalcon.com. From what I understand, it can be yours for $190 million (anyone have that left?).
Back to business. We are spending a lot of time with clients integrating CMBS IRP data into Backshop so they can tie the property level underwritings out to the bonds. DBRS has been leading the charge — and it is very cool to see this coming together and others taking notice. The “Holy Grail” as it has been called.
We are also jamming with existing clients and working on launching the new “Public” site. I’ll make a prediction next week on at least the launch month. …
https://www.cmbs.com/wp-content/uploads/2019/03/cmbslogo030619.png00jimflahertyhttps://www.cmbs.com/wp-content/uploads/2019/03/cmbslogo030619.pngjimflaherty2008-10-06 00:45:072020-09-17 00:46:44What a Week to be in San Francisco
Blue Angels: Burning fuel and pulling Gs
/0 Comments/in What's going on /by jimflahertySeeing the Blue Angels perform over San Francisco Bay makes me proud to be a taxpayer!
In the world of multi-billion dollar government bailouts and endless deficits, seeing the US Military burning some fuel and pulling Gs seems to make things feel better.
The market up 11 percent helps a bit too. Enjoy the pics.
Read more
The Mother of All RFPs
/0 Comments/in Industry news, Industry standards /by jimflahertyPolitics and the CMBS industry have become sudden (and strange) bedfellows, but recent developments may help bring open transparency to both parties.
The Department of the Treasury recently issued an RFP titled “Notice to Financial Institutions Interested in Providing Whole Loan Asset Management Services for a Portfolio of Troubles Mortgage-Related Assets.”
This is a huge opportunity.
From the RFP:
“In furtherance of its mission to ensure the safety and soundness of the U.S. financial system, and to implement the Emergency Economic Stabilization Act of 2008 (Act), the Treasury is establishing a program to purchase a variety of troubled assets. Accordingly, the Treasury seeks one or more Financial Institutions to provide asset management services for a portfolio of dollar-denominated mortgage whole loans that the Treasury will acquire from Financial Institutions.”
The submission deadline was 5 p.m. ET today, and we proposed that the government name Backshop as the CMBS reporting standard.
From our cover letter:
“While the CMBS market represents only 15% to 20% of the securitized “problem,” Backshop and CMBS.com are uniquely positioned to help solve this part of the problem. We provide the software and the data required to power a common underwriting platform that provides needed transparency into the value of the underlying assets. …”
After all, we believe the appointed asset managers should report to the DOT — and the taxpayers — in an open and transparent way.
Download our entire proposal.
Transparent CMBS Standards Today!
— — —
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
What a Week to be in San Francisco
/0 Comments/in What's going on /by jimflahertyThis week is one of my favorites. The Blue Angels are coming to town, and the weather is looking nice. The Blue Angels fly starting on Thursday through Sunday. We will be on the boat later this week and will post some cool pics as we get them.
Speaking of cool pics, the Maltese Falcon arrived in San Francisco last week. Owned by Tom Perkins, the Maltese Falcon is the largest private sailing vessel in the world, and it is impressive to say the least: www.symaltesefalcon.com. From what I understand, it can be yours for $190 million (anyone have that left?).
Back to business. We are spending a lot of time with clients integrating CMBS IRP data into Backshop so they can tie the property level underwritings out to the bonds. DBRS has been leading the charge — and it is very cool to see this coming together and others taking notice. The “Holy Grail” as it has been called.
We are also jamming with existing clients and working on launching the new “Public” site. I’ll make a prediction next week on at least the launch month. …