I had four days at the Tribeca Grand this week, and it has felt a little bit like September 11, 2001. Except this time the crisis is in the economy. The TV set (at least mine) has been glued to CNN and WSJ Online to see the latest on the bailout. The UN is in […]
https://www.cmbs.com/wp-content/uploads/2019/03/cmbslogo030619.png00jimflahertyhttps://www.cmbs.com/wp-content/uploads/2019/03/cmbslogo030619.pngjimflaherty2008-09-26 00:47:212020-09-17 00:49:24What a Week to be in New York
When I graduated from Boston College in 1989, I had no idea I was beginning an adventure that would position me right where I am today: Developing technology and leading the charge to re-invent the CMBS market. I started my career in 1989 working for Fleet Bank in Providence, RI. I completed the bank’s “loan […]
https://www.cmbs.com/wp-content/uploads/2019/03/cmbslogo030619.png00jimflahertyhttps://www.cmbs.com/wp-content/uploads/2019/03/cmbslogo030619.pngjimflaherty2008-09-23 00:49:552020-09-17 00:51:33From foreclosures to recurring revenue: Jim’s early career
In May at the MBA tech conference in Chicago, I laid out the CMBS.com master plan to Mike Lipson of Capmark, a major master servicer and traditional mortgage broker. I have known Mike since GMAC bought Hanford/Healy in 1996 (where I worked before founding GateCapital) but he had not heard of the CMBS.com name (we […]
https://www.cmbs.com/wp-content/uploads/2019/03/cmbslogo030619.png00jimflahertyhttps://www.cmbs.com/wp-content/uploads/2019/03/cmbslogo030619.pngjimflaherty2008-09-18 00:34:552020-09-11 00:35:49What's in a name?
Two major events today: Lehman Brothers filed for bankruptcy, and Bank of America went live on Backshop. — — — September 15, 2008 – Lehman Brothers filed for bankruptcy today. In 2000, I sold my first company (GateCapital) to Lehman Brothers. My partner, Jim Kehoe, ran a $5 billion primary servicing portfolio for them consisting […]
To have the need for 2.0 of anything, by definition, 1.0 could have been better. Certainly that was the case with many of the internet’s first sites, and it is the case with Commercial Mortgage Backed Securities. CMBS 1.0 had all sorts of problems, including: Too many lenders chasing too few deals resulting in high-leverage […]
https://www.cmbs.com/wp-content/uploads/2019/03/cmbslogo030619.png00jimflahertyhttps://www.cmbs.com/wp-content/uploads/2019/03/cmbslogo030619.pngjimflaherty2008-09-14 00:32:572020-09-11 01:51:15CMBS 2.0 – What went wrong and how we fix it
There is no question that the way in which we have conducted securitizations in the past is broken. I agree with Ethan Penner (in his July 10, 2008 Opinion Article in the WSJ, The Future of Securitization) when he says “Yesterday’s business model has been invalidated.” However, I do not agree with his conclusion that securitization […]
https://www.cmbs.com/wp-content/uploads/2019/03/cmbslogo030619.png00jimflahertyhttps://www.cmbs.com/wp-content/uploads/2019/03/cmbslogo030619.pngjimflaherty2008-09-13 00:28:242020-09-11 00:29:24Transparency vs skin
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. The birth of Backshop The company was incorporated in July 2000 […]
https://www.cmbs.com/wp-content/uploads/2019/03/cmbslogo030619.png00jimflahertyhttps://www.cmbs.com/wp-content/uploads/2019/03/cmbslogo030619.pngjimflaherty2008-09-11 00:26:422020-09-11 00:27:44The history of Backshop and CMBS.com
What a Week to be in New York
/0 Comments/in Industry news /by jimflahertyI had four days at the Tribeca Grand this week, and it has felt a little bit like September 11, 2001. Except this time the crisis is in the economy. The TV set (at least mine) has been glued to CNN and WSJ Online to see the latest on the bailout. The UN is in […]
From foreclosures to recurring revenue: Jim’s early career
/0 Comments/in Company history /by jimflahertyWhen I graduated from Boston College in 1989, I had no idea I was beginning an adventure that would position me right where I am today: Developing technology and leading the charge to re-invent the CMBS market. I started my career in 1989 working for Fleet Bank in Providence, RI. I completed the bank’s “loan […]
What’s in a name?
/0 Comments/in Industry news /by jimflahertyIn May at the MBA tech conference in Chicago, I laid out the CMBS.com master plan to Mike Lipson of Capmark, a major master servicer and traditional mortgage broker. I have known Mike since GMAC bought Hanford/Healy in 1996 (where I worked before founding GateCapital) but he had not heard of the CMBS.com name (we […]
Black Monday and champagne?
/0 Comments/in Industry news /by jimflahertyTwo major events today: Lehman Brothers filed for bankruptcy, and Bank of America went live on Backshop. — — — September 15, 2008 – Lehman Brothers filed for bankruptcy today. In 2000, I sold my first company (GateCapital) to Lehman Brothers. My partner, Jim Kehoe, ran a $5 billion primary servicing portfolio for them consisting […]
CMBS 2.0 – What went wrong and how we fix it
/0 Comments/in Industry news, Industry standards /by jimflahertyTo have the need for 2.0 of anything, by definition, 1.0 could have been better. Certainly that was the case with many of the internet’s first sites, and it is the case with Commercial Mortgage Backed Securities. CMBS 1.0 had all sorts of problems, including: Too many lenders chasing too few deals resulting in high-leverage […]
Transparency vs skin
/0 Comments/in Industry news, Industry standards /by jimflahertyThere is no question that the way in which we have conducted securitizations in the past is broken. I agree with Ethan Penner (in his July 10, 2008 Opinion Article in the WSJ, The Future of Securitization) when he says “Yesterday’s business model has been invalidated.” However, I do not agree with his conclusion that securitization […]
The history of Backshop and CMBS.com
/0 Comments/in Company history /by jimflahertyIt 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. The birth of Backshop The company was incorporated in July 2000 […]