DebtX has launched a new data service that offers analysis and insight regarding the secondary market for Commercial Real Estate (CRE) loans.
The new product called DebtXData℠ provides both historical and current CRE loan prices, a quantitative measure of secondary market liquidity, new-origination spreads, market commentary as well as the analysis of selected trades done on the exchange, according to a release from the firm.
The offering is based on aggregated trading activity by hundreds of banks and thousands of buyers at www.debtx.com, which is an exchange for whole loans.
“We're providing some insight on the actual value of the loans to give an idea as to what they are selling for or what spreads they are bought at currently,” said DebtX CEO Kingsley Greenland in an interview with ASR.
The data, Greenland said, is more granular as it offers information on individual groups of loans, although it is not yet at a loan-by-loan basis. “It can tell you about trends in the market, but with this, one will not be able to price an individual loan,” Greenland said.
The new product might also benefit regulators who can, for instance, value their fair value accounting position or help them know how much their portfolio is worth by helping them determine their loan loss reserves to support their positions.