2dmkt.com Acquires clubmortgage.com; The Only Online Global Marketplace for Commercial Mortgage Loans.Business Editors LOS ANGELES--(BUSINESS WIRE)--Feb. 8, 2000 2dmkt.com (www.2dmkt.com), a unique business-to-business e-commerce enterprise, is successfully operating the only online marketplace for the estimated $500 billion of commercial mortgage loans and participation certificates traded in the global secondary market. The www.2dmkt.com site has already admitted more than 500 institutional members. The company recently acquired the www.clubmortgage.com Web site and certain other assets other assets Assets of relatively small value. For financial reporting purposes, firms frequently combine small assets into a single category rather than listing each item separately. from The Mortgage Acquisition Corp. (TMAC TMAC Tracy McGrady (basketball player) TMAC Tobymac (christian singer) TMAC Technology, Management, & Analysis Corporation TMAC Texas Manufacturing Assistance Center ). 2dmkt.com already lists more than $250 million in commercial mortgage loans available for purchase by authorized member investors. Since launching in November 1999, a quarter billion dollars in loans have been posted, loans have been sold and closed. 2dmkt.com expects to expand dramatically on the early success of its online marketplace for secondary commercial real estate loans. &uot;We know that the 2dmkt.com online concept has been very well received,&uot; noted Kenneth A. Cohen cohen or kohen (Hebrew: “priest”) Jewish priest descended from Zadok (a descendant of Aaron), priest at the First Temple of Jerusalem. The biblical priesthood was hereditary and male. , chairman and chief executive officer of the new company. &uot;Our mission 2000 is to make this marketplace, which serves the entire spectrum of secondary commercial mortgage loan transactions, bigger and better.&uot; In the next quarter, 2dmkt.com expects to triple the volume of loans listed and traded on its Web site. The privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. expects to expand its sales and support staffs in Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. and New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of . Enhanced technical services include the ability to allow members to execute and download confidentiality agreements and other due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. documents in a secure environment. Members will be able to complete bid letters and loan sale agreements online. The site will soon add fast-breaking commercial mortgage industry news, and offer appraisal and underwriting discounts. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Cohen: &uot;2dmkt.com handles all transactions involving commercial mortgage loans including portfolio sales, interim or permanent loan participation transactions, placements for mortgage bankers and international commercial mortgage transactions. &uot;We reach all the players including insurance companies, banks, investment banks, savings banks, mortgage bankers, institutional funds, opportunity/hedge funds and others. Principals and intermediaries can all benefit from the use of the expanded distribution provided by our online marketplace.&uot; 2dmkt.com is privately owned and has commenced discussion with several firms interested in providing funding for this innovative business-to-business e-commerce marketplace venture. Upon consummation of this first round of financing, 2dmkt.com plans to expand into other secondary market trading areas. |
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