The New York startup sucks in data from marketing firms, public loan filings, courthouses and dozens of other sources, and sells it to mortgage bond and loan traders.The vivid detail the company turns up — the types of stores borrowers tend to shop at and whether they rent out their homes on Airbnb, for example — may unsettle privacy advocates, but it’s a boon for investors trying to figure out how likely homeowners are to pay their obligations.Across the world of finance, startups are using big data to try to improve Wall Street’s success with everything from consumer lending to stock trading.The average fund manager can gain 0.4 to 0.7 percentage point of return by using more intelligent data when trading mortgages, at least for home loans that haven’t been bundled into securities, according to John Ardy, CEO of Resitrader, an institutional marketplace for home loans.“We’re concerned about how this information is shared, and how it can have adverse consequences for individuals without their even realizing it,” said Lee Tien, a senior staff attorney at the Electronic Frontier Foundation, a nonprofit focusing on civil liberties.[...] money managers using information they get from TheNumber could face accusations of discriminating against borrowers based on race or religion if it turns out the factors the company looks at tend to single out particular types of people, said Frank Pasquale, a professor at the University of Maryland’s Francis King Carey School of Law.Fund managers that use TheNumber are typically buying subprime mortgages, many of which have defaulted.TheNumber tries to determine how much pride a homeowner probably has in his or her property, based on information it gleans from third parties, such as whether the resident tends to click on online ads from home improvement and gardening stores.Experian, for example, tries to make sure investors can’t readily determine borrowers’ identities when it hands out mortgage data, said Michele Raneri, a vice president of analytics and new business development at Experian.Added information about borrowers could boost transparency in the mortgage bond market, where getting information about creditworthiness and prices can be much harder than in other debt markets.“Investors in every other market get to see what they are buying — but not mortgage bond investors,” said Adam Murphy, founder of Empirasign Strategies LLC, a trading data firm for mortgage bond professionals.
NYS Entity Status
NYS Filing Date
SEPTEMBER 22, 2014
NYS DOS ID#
NYS Entity Type
DOMESTIC LIMITED LIABILITY COMPANY
2014 - 124-10 LIBERTY LLC
AROUND THE WEB
- Big Data tells mortgage traders an amazing amount about you
By Matt Scully - Friday Jun 30, 2017
- Pride 2017: New York’s L.G.B.T.Q. Story Began Well Before Stonewall
By LIAM STACK - Monday Jun 19, 2017
The gay bar’s 1969 patron-police battle, hailed as a starting point, actually followed many events in the city, now mapped in a sites project.
- Shareholders Demand More Drastic Shifts at Nestlé
By STEPHANIE STROM - Tuesday Jun 27, 2017
The changes requested by the Third Point hedge fund underscore the idea that legacy food brands must radically shake up their portfolios to remain profitable.
- Third Point, a Hedge Fund, Sets Its Activist Sights on Nestlé
By MICHAEL J. de la MERCED - Sunday Jun 25, 2017
The fund, run by Daniel S. Loeb, has called on the Swiss food giant to sell its stake in L’Oréal and move more quickly to adapt to changing consumer tastes.
- Dan Loeb's Third Point Makes Its Largest-Ever Bet With Nestlé Stake
Sunday Jun 25, 2017
Billionaire activist investor Daniel Loeb’s Third Point LLC hedge fund has taken a $3.5 billion stake in Nestlé SA, piling pressure on the world’s largest packaged foods company to find ways to accelerate growth.
- Election security flaws mark Kemp 2018 campaign for governor
By KATHLEEN FOODY, Associated Press - Saturday Jul 15, 2017
Republican Secretary of State Brian Kemp called it an attempted federal takeover and insisted his office was already protecting Georgia's vote from hackers.Georgia effectively outsourced management of the touch-screen voting machines it adopted statewide 15 years ago to the center, which earned $792,000 in its most recent annual contract.The work has been all-encompassing, from designing ballots to creating memory cards with lists of registered voters for each county to testing and certifying each piece of equipment after repairs.A cybersecurity expert warned King in August — only days after Kemp turned away federal help — that he had been able to copy records on Georgia's 6.7 million voters and other critical documents from the center's public website, including passwords poll workers used to sign into a central server on Election Day.Kemp also used intensive procedures to verify voters' registration status, prompting accusations from the American Civil Liberties Union, the Georgia NAACP and Common Cause that thousands of eligible citizens lost their right to vote.[...] when voting-rights activists demanded an independent, system-wide security review ahead of Handel's June 20 special congressional election victory, Kemp dismissed their experts as "Ivy League professors."According to their emails, obtained by voting-technology activists, KSU officials were most concerned that the "personally identifiable information" of all registered voters had been easily accessible.A damning report by KSU's information technology department also said the center's reportedly secure private network for creating and testing ballots was in a closet with a live internet connection and a door that "was not latching properly," in an office with a wireless access point.