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
MARCH 11, 2013
NYS DOS ID#
C T CORPORATION SYSTEM
111 EIGHTH AVENUE
NEW YORK, NEW YORK, 10011
NYS Entity Type
FOREIGN LIMITED LIABILITY COMPANY
2013 - LADDER CAPITAL COMMERCIAL MORTGAGE SECURITIES LLC
Around the Web
- Big Data tells mortgage traders an amazing amount about you
By Matt Scully - Friday Jun 30, 2017
- Trump admin blocks Chinese buyer from taking over US tech firm
By Bob Fredericks - Wednesday Sep 13, 2017
Citing national security concerns, President Trump on Wednesday blocked a Chinese-backed investor from buying Lattice Semiconductor Corp. — only the fourth time a president has stopped a foreign takeover in 27 years. The would-be buyer, Canyon Bridge Capital Partners LLC, is a private-equity firm backed by a Chinese state-owned asset manager, Bloomberg reported. “Consistent with...
- The Top 10 Moments of New York Fashion Week
By THE NEW YORK TIMES - Friday Sep 15, 2017
Highlights from the shows, including a celebrity-packed front row at Calvin Klein and a trek to Bedford Hills, N.Y., to see Ralph Lauren’s vintage cars.
- Women of Sex Tech, Unite
By ANNA NORTH - Friday Aug 18, 2017
New York is becoming a cultural center for young women trying to disrupt the male-dominated industries of design engineering and sex toys.
- Four Credit Repair Agencies Accused Of Misleading Customers, Charging Illegal Fees
By Ashlee Kieler - Tuesday Jun 27, 2017
Four different “credit repair” operations have been ordered to pay a total of more than $2 million in penalties for allegedly tricking people into thinking their bad credit could be easily fixed.The Consumer Financial Protection Bureau announced today that it filed complaints and proposed judgments against Prime Credit, LLC, IMC Capital, LLC, Commercial Credit Consultants, and Park View Law, …
- Trump might break mortgage deductions promise: report
By Bob Fredericks - Friday Aug 4, 2017
The Trump administration may break a promise and reduce the $ 1 million cap on mortgage deductions for US homeowners, a new report said Friday. Politico said the fate of the popular deduction — which allows homeowners to avoid income taxes on mortgages up to the million-dollar mark — came up this week at a...