A team of mortgage finance and investment management professionals formally launched BlackBox Logic.
The loan-level data firm will offer a comprehensive database of loan-level collateral underlying non-agency RMBS for investors, broker/dealers and researchers.
BlackBox Logic also announced the availability of its loan-level data aggregation service, called BBx DataTM. This offering covers the Jumbo A, subprime and Alt-A mortgage markets.
It includes more than 7,200 RMBS, 21 million loans and close to 600 million remittance records that date back to 1999.
BlackBox Logic has offices in New York and Bethesda, Md. and is headquartered in Denver. The company is majority-owned by Braddock Holdings Co., the private equity affiliate of Denver-based Braddock Financial Corp.
BlackBox Logic's, which was founded in 2007, management team is led by Larry Barnett, CEO; Wyck Brown, director of marketing and new business development; Bill Pugh, chief technology officer; Marty Schwartz, lead data modeler; and Dmitri Raskes, director of e-commerce solutions.
The team spent more than two years designing and testing a beta version of BBx Data with RMBS researchers, investors and broker/dealers.
On average, by standardizing formats and populating data gaps, BBx Data’s cleansed data offers a 37% improvement on important loan characteristics when compared with unformatted, raw data, saving users programming time. BBx Data clients have the option of receiving both cleansed and raw data sets, putting decision-making power back into data users’ hands.
BBx Data uses a unique dedicated loan modification processing engine to offer clients with coverage of current and retrospective modifications, a critical capability given the current volume and pace of modification activity.
Using proprietary logic, the BBx Data production team was able to identify more than 60,000 loan modifications not identified by servicers or reported by trustees. BBx Data is significantly more comprehensive in loan modification coverage than alternative data sets on the market.
BlackBox Logic’s BBx Data also gives users access to timely monthly full-set data. On average, 99.6% of BBx Data’s dataset is available by the first of each month after trustee reports are issued.
Investors, broker/dealers, analysts and researchers are allowed to buy only the data they need, rather than the full 21-million loan dataset. BBx Data can be accessed by sector, vintage, deal/CUSIP, state, ZIP code, MSA or other extract options; customers that choose to select partial datasets pay only for what they need.
BlackBox Logic offers users three ways to access the BBx Data dataset. Users can access BBx Data through Crystal Logic®, a proprietary Web-based interface and analytics program, for bond-level data extraction, collateral manipulation and research. Crystal Logic also offers user-friendly modular functionality and the ability to develop custom analytics, with tools that include a multi-tiered dashboard enabling analysis by deal, bond or portfolio; historical performance reporting based on more than 30 key indicators; monthly roll-rate analysis; payment velocity overviews; advanced cohort creation; and collateral drill-down and loan-level detail views, among others.
BBx Data from BlackBox Logic also can be accessed through the 1010data interface, a Web-based platform for data management and analytic capabilities on large datasets.