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Investment Veterans, Mortgage Finance Team Launch New Loan-Level Data Company

Investment management veterans and a team of mortgage finance have launched a new company called BlackBox Logic, which provides a database of loan-level collateral underlying non-agency residential mortgage-backed securities for investors, broker/dealers and researchers.

BlackBox Logic also released loan-level data aggregation service called BBx Data, which covers the Jumbo A, Subprime and Alt A mortgage markets. It includes more than 7,200 residential mortgage-backed securities, 21 million loans and nearly 600 million remittance records, dating back to 1999.

The company’s management team has more than 50 years of experience in designing, building and managing information technology systems for the securitized mortgage market. The team spent more than two years designing and testing a beta version of BBx Data with RMBS researchers, investors and broker/dealers.

The company claims that its cleansed data on an average provides a 37% improvement on loan characteristics when compared to unformatted, raw data, saving users programming time. Its users have the option of receiving both cleansed and raw data sets, putting decision-making power back into data users’ hands.

BlackBox Logic said that the product utilizes a loan modification processing engine to provide users with coverage of current and retrospective modifications, a capability given the current volume and pace of modification activity.

In addition, the company offers users three ways to access the BBx Data dataset. Users can access it through Crystal Logic for bond-level data extraction, collateral manipulation and research.

Crystal Logic offers modular functionality and the ability to develop custom analytics, with tools including a multi-tiered dashboard enabling analysis by deal, bond or portfolio; historical performance reporting based on more than 30 key indicators; payment velocity overviews; advanced cohort creation; and collateral drill-down and loan-level detail views, the company said.