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
APRIL 10, 2013
NYS DOS ID#
NYS Entity Type
FOREIGN LIMITED LIABILITY COMPANY
2013 - GOSHEN MORTGAGE REO LLC
AROUND THE WEB
- Big Data tells mortgage traders an amazing amount about you
By Matt Scully - Friday Jun 30, 2017
- A Handmaid’s Tale of Protest
By CHRISTINE HAUSER - Friday Jun 30, 2017
In state capitals and street protests, women’s rights activists have been wearing red robes and white bonnets based on “The Handmaid's Tale,” the 1985 novel that is now a series on Hulu.
- Business News Roundup, July 14
By Chronicle News Services - Thursday Jul 13, 2017
Online shoppers looking to score bargains during the Nordstrom anniversary sale instead faced glitches.The Seattle department store chain apologized, tweeting that it was working to resolve the issue.Frustrated shoppers took to social media to vent, with one saying it was “unbelievable” that Nordstrom wasn’t ready to handle the traffic on such a big shopping day.Uber is ceding control of the Russian market by agreeing to merge its ride-hailing business in the country with Yandex, the Russian search-engine leader that also runs a popular taxi-booking app.For Uber, the deal marks the exit from another big market after it sold its operations in China last year to local rival Didi Chuxing.The CEO of Yandex Taxi, Tigran Khudaverdyan, will become the chief executive of the combined company.Long-term U.S. mortgage rates rose this week for the second straight week.Mortgage buyer Freddie Mac said Thursday the rate on 30-year fixed-rate mortgages increased to an average 4.03 percent from 3.96 percent last week.The rate on 15-year, fixed-rate home loans, popular with homeowners who are refinancing their mortgages, rose to 3.29 percent last week from 3.22 percent.Fewer Americans applied for jobless aid last week, as the number of people seeking benefits has stayed near historic lows pointing to a robust job market.The number of people collecting unemployment benefits has fallen 8.8 percent over the past 12 months to 1.9 million.The job market appears solid as the U.S. enters its ninth year of recovery from the Great Recession.Consistent hiring has helped sustain the gradual recovery, although the expansion is starting to show its age as the pace of job gains has slowed this year.An investment group led by a former Chicago alderman and a coalition of labor unions are the new owners of the Chicago Sun-Times, officials announced Thursday.“We are investing in a journalistic voice that’s genuine, accurate and consistently reporting news that matters to the people of Chicago,” said former Alderman Edwin Eisendrath, who will serve as CEO of the Chicago Sun-Times, said in an email.Eisendrath, who left the City Council when President Bill Clinton appointed him to a Department of Housing and Urban Development post, submitted a bid last month after Sun-Times owner Wrapports LLC announced it would enter into discussions with Tronc Inc., which owns the rival Chicago Tribune.
- The Albany School Sellout
Friday Jun 30, 2017
The politicians all get something, but poor kids are the losers.
- What seniors should know about reverse mortgages
By firstname.lastname@example.org (Fox News Online) - Sunday Jul 9, 2017
- Bald eagle threat: Lead ammo left behind by hunters
By MARY ESCH, Associated Press - Sunday Jul 16, 2017
ALBANY, N.Y. (AP) — Bald eagles have made a remarkable recovery across the United States since the pesticide DDT was banned 45 years ago, but the majestic birds are still dying from another environmental poison: lead from bullets and shotgun pellets in wildlife carcasses left behind by hunters.In New York, which has been a leader in the bald eagle restoration in the Northeast for four decades, state wildlife researchers have documented a growing number of eagle deaths from lead poisoning in recent years.In New York, lead poisoning was confirmed as the cause of death in 38 of 336 bald eagles brought to a Department of Environmental Conservation lab near Albany between 2000 and 2015, said state wildlife biologist Kevin Hynes, who does the necropsies."Eagles are doing very well, their recovery is a great success story largely supported by excise taxes paid by hunters" on lead ammunition and guns, said Lawrence Keane, senior vice president of the National Shooting Sports Association.Virginia wildlife advocate Clark said that rather than a ban on lead ammunition, his group is seeking a public education campaign so hunters are aware of the problem and how they can help.