DebtX, an online marketplace for commercial debt, says it has made available its loan pricing data to Bloomberg subscribers via the Bloomberg Professional service – an arrangement designed to bring a new level of transparency to the commercial mortgage-backed securities (CMBS) market.
According to the company, DXMark from DebtX enables investors and rating agencies to determine the underlying value of loans in a CMBS issue with greater precision by providing valuations based on competitive sales of commercial real estate (CRE) loans executed at DebtX's online marketplace. DebtX has aggregated CRE loan pricing data from transactions involving more than 300 financial institutions and 4,000 investors.
‘Bloomberg and DebtX are delivering much-needed transparency to the CMBS market by making loan pricing data widely available,’ says Kingsley Greenland, CEO of DebtX. ‘DXMark is the first objective tool to accurately estimate the collateral in a CMBS issue. With superior information, investors and risk managers can make materially better judgments about their CMBS portfolio and ultimately improve profitability.’