DebtX awarded patent

May 22, 2006, 12:00 a.m. EDT 1 Min Read

Loan sale advisor DebtX has been awarded a patent by the United States Patent and Trademark Office for its online loan sale and debt trading exchange program. This protects DebtX's innovations relating to due diligence, loan sales and debt trading that has played an important role in transforming the way commercial loans are bought and sold, DebtX said in a statement.

"We're pleased that the US Patent Office has recognized the unique components of DebtX's approach to loan sales, which has successfully generated billions of dollars in liquidity and has ushered in a new era of active portfolio management for financial institutions," said DebtX CEO Kingsley Greenland, in the statement.

Founded in 2000, DebtX helps commercial banks, insurance companies, investment banks, government agencies and other institutions create liquidity for commercial real estate loans, commercial and industrial loans, specialty finance and other kinds of debt instruments.

(c) 2006 Asset Securitization Report and SourceMedia, Inc. All Rights Reserved.

http://www.asreport.com http://www.sourcemedia.com

For reprint and licensing requests for this article, click here.

TRENDING

Securitization

Chase Auto Owner Trust prepares to sell $1.2 billion in notes

Spreads ranging from 16-18 basis points over the three-month, interpolated yield curve on the P1 (Moody's) and F1+ (Fitch) notes, to 160 to 170 over the benchmark on the class D notes.

By Donna M. Mitchell

April 25
Esoteric ABS

Credit investors snap up bonds backed by art loans, internet addresses

Esoteric ABS deals — backed by collateral other than student, auto, credit card and equipment loans — have risen to about 31% of the ABS market from 9% over the last decade.

By Immanual John Milton and Carmen Arroyo

April 25
Originations

Mortgage rates rise on weak economic news

Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.

By Brad Finkelstein

April 25

MORE FROM ASSET SECURITIZATION REPORT

Securitization

Chase Auto Owner Trust prepares to sell $1.2 billion in notes

Spreads ranging from 16-18 basis points over the three-month, interpolated yield curve on the P1 (Moody's) and F1+ (Fitch) notes, to 160 to 170 over the benchmark on the class D notes.

By Donna M. Mitchell

April 25
Originations

Mortgage rates rise on weak economic news

Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.

By Brad Finkelstein

April 25
Securitization

New Jersey higher education agency to float about $226.5 million

Broken down by product type, the agency's NJCLASS Standard Fixed product should account for a large majority of the loans, 75.4%. NJCLASS Consolidation will account for the next-largest group, 14.1%.

By Donna M. Mitchell

April 24
Politics and policy

Why are Republicans trying to nullify bank rules? Blame the coming election.

Congressional Review Act resolutions are ramping up ahead of the 2024 election cycle. Experts say that, although none are likely to become law, the resolutions are still powerful messaging and political tools.

By Claire Williams

April 24
Securitization

Duke Energy Progress prepares to issue $177.3 million in storm recovery bonds

The notes will price against Treasurys, with spreads expected to fall between 85 and 90 basis points over the benchmark.

By Donna M. Mitchell

April 24
Regulation and compliance

'Through the looking glass': Jamie Dimon sounds off on regulatory burden

The JPMorgan Chase CEO took aim Tuesday at the proposed Basel III endgame rules, hindrances to mergers and bureaucratic burdens. "I would love to have a more productive relationship with regulators, but I think it takes conversation," Dimon said.

By Catherine Leffert

April 24