Backshop / CMBS.com doubles in size by adding Closer

/0 Comments/in /by

We closed on our transaction with SitusAMC and have onboarded all the Closer employees, which brings our combined team to more than 30 people.

Next week I’ll be on the road to Nashville and New York to meet everyone in person and start planning how we combine our two platforms. We will take the best parts of both products and combine them into one killer app that appeals to every type of lender. I plan to meet all the Closer clients this fall and get input on our road map so we do everything in the right order.

Next week I’m also attending the CREFC Capital Markets conference in New York. It will be interesting to hear about the general state of the markets, and if the lower interest rates are fueling transaction volume. Also, I will see if they’ve determined the scope for the CMBS 4.0 project.

Because we don’t live by work alone, here’s Kurt Vile playing “How Lucky,” which he wrote with John Prine. Enjoy.

Finally, on this 23rd anniversary of the attack on 9/11, I want to say never forget the sacrifices that so many made that day.

Do great work, enjoy fine music and hold your loved ones close.

Jim

Backshop owner CMBS.com expands its offerings in partnership with SitusAMC

/0 Comments/in , /by

Sausalito, CA (Aug. 20, 2024) – CMBS.com, owner of the industry leading Backshop commercial real estate loan origination, management and servicing platform, today announced a strategic partnership with SitusAMC, a leading provider of services and technology to the commercial and residential real estate finance industry. As part of the partnership, SitusAMC will transition ownership of CLOSER, its CRE origination system, to CMBS.com. Additionally, SitusAMC will leverage the Backshop platform for its U.S. asset management services.

Combining Backshop and CLOSER

The partnership combines Backshop’s robust origination, asset management and servicing capabilities with CLOSER’s origination capabilities to establish a best-in-class platform that enhances users’ ability to originate, manage, model, and analyze their CRE portfolios.

“We are excited to bring the CLOSER platform and its team to Backshop. Together we will be the No. 1 most used CRE software in the industry. We plan a new interface that incorporates the best of both products to cement our leadership position. In addition to expanding our presence in the agency lending business, the SitusAMC business strengthens our foothold in the servicing part of the industry. Now deal data will flow transparently from origination, through servicing all the way to the lender and our class-leading bond analysis tools.”

– Jim Flaherty, Founder & CEO, Backshop

“This partnership, along with the planned efforts to integrate the best of both platforms, will establish a new standard in CRE software, creating a powerful platform to support CRE lending and management activities. We are excited about the value this will bring to the market and look forward to supporting the future growth of Backshop.

– Michael Franco, CEO, SitusAMC

Backshop was the first web-based software application to model the entire deal stack including properties, debt, equity, and bonds. The platform’s underwriting and asset management capabilities bring transparency that enables lenders and investors to make smarter, faster and more profitable decisions.

CLOSER is a comprehensive loan origination system, streamlining the origination and management of commercial real estate secured debt. The platform has a strong hold in GSE and CMBS markets, supporting ~35% and 20%, respectively.

Enhancing SitusAMC’s Asset Management Offering

SitusAMC is a leader in commercial real estate debt servicing and asset management. The firm manages more than $433 billion of unpaid principal balance across the U.S. and Europe (as of 12/31/23). SitusAMC supports its clients which are comprised of top banks, insurance companies, pension funds, asset management firms, as well as REITS and Private Equity funds. As part of the partnership, SitusAMC will onboard the Backshop platform to support and enhance the firm’s asset management offering.

“Backshop’s robust asset management capabilities will provide the tools our asset managers need to support our clients’ portfolios and fuel strategic decision making. We look forward to onboarding the software and continuing to deliver exceptional outcomes for our clients.”

– Anne Jablonski, Head of CRE, SitusAMC

About SitusAMC  

SitusAMC is the leading independent provider of innovative, trusted solutions that support the entire lifecycle of commercial and residential real estate finance, powering more efficient, effective, and agile businesses. For more information, visit www.SitusAMC.com.

About CMBS.com

Founded in 2000, CMBS.com provides commercial real estate valuation, pipeline, loan origination, asset management, and securitization management software. The firm’s flagship platform, Backshop, is the leading CRE loan origination, management and servicing platform supporting a range of CRE market participants. CMBS.com is also an authorized third-party data provider to the CMBS industry.

Contact

Jim Flaherty
Founder & CEO, Backshop
jim@cmbs.com

Checking in on 9/11

/0 Comments/in , /by

Today marks the 22nd anniversary of 9/11 and the 15th anniversary of this blog. If you read the first post you’ll see how the events of 9/11 are part of our founding story:

The history of Backshop and CMBS.com

The anniversary of 9/11 always gets me thinking about the formation of this company and the state of our industry.

The CRE debt markets have been slow with higher interest rates, rising costs, and decreasing values. It is possible, if we get another significant down cycle and bond losses, there could be an opportunity to revisit the IRP disclosures. Rent rolls are key to understanding risk, especially for an office building, where there is high risk for severe losses. Right now seems like the calm before the storm.

Jim Flaherty

Your all-in-one CRE Debt Software Tool

/0 Comments/in /by

In the 20 years since we founded Backshop, we have created an all-in-one CRE software tool that services all aspects of the debt business.

Our capabilities now include:

  • Deal Origination, Asset Management, Master Servicing, Special Servicing
  • Mezzanine Lending with Fund and CLO Reporting
  • CMBS Origination, Bond Analytics and IRP data via API
  • Workflows, Approvals, Dashboards, and Document eSigning/Storage
  • Direct Cap, DCF, and Sources & Uses models
  • Deal sharing privately online and publicly via our open API

“We are proud of the constant improvements we’ve been making to our software,” says Backshop founder and CEO Jim Flaherty. “Our system makes every aspect of CRE deal origination, management and servicing simpler, easier and more profitable. Try our demo — it’s very convincing.”

To learn more, please check out www.backshop.com, email me at jim@cmbs.com or call me at 415.576.8008.

— — —

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 and investors.

Big improvements to Backshop

/0 Comments/in /by

In 2018 we significantly improved our Backshop commercial real estate software. Here are some highlights:

Read more

Announcing our Property Markeplace

/0 Comments/in /by

The release of our Marketplace is a huge step in completing our vision to bring commercial real estate online. Model and market your deals using the same data backbone the big enterprises use — with the convenience of the Web and the confidence of standardized data.

Read more

The history of Backshop and CMBS.com

/0 Comments/in /by

(This was originally posted Sept. 11, 2008)

It is September 11, 2008 and I have started preparing content for my soon-to-be released-blog, CMBS 2.0. The history of the company is deeply connected to September 11, 2001 and what better day than the 7-year anniversary of the attacks to chronicle that history.
Read more

Backshop and CMBS.com expand to serve the entire CRE market

/0 Comments/in /by

For years I have been talking and blogging about the importance of transparency, standardization and XML in the CRE market. Well, I decided it was time to be more proactive in making these concepts a reality by creating inexpensive tools for small CRE operations and providing free tools for everyone who wants to experience the benefits of transparency.

Read more

September 11, 2014

/0 Comments/in /by

Today is the 6th anniversary of this blog, which I write to follow the regulatory response to the financial crisis and how the implementation of the Dodd Frank law affects the CMBS market.

If you are a follower, you know I believe the regulators’ primary role should be to require transparency, and I advocate that position. This blog and my advocacy for transparency in the CMBS market is in part inspired by the events of 9/11/01.

Check out my very first post that gives that story:

http://cmbs2point0.com/the-history-of-backshop-and-cmbscom