CapitalThinking says J.P. Morgan is Bluewire's first client.

CapitalThinking, Inc. officially launched its Application Service Provider (ASP) business, announcing J.P. Morgan Mortgage Capital Inc. as the first customer for Bluewire -- CapitalThinking's ASP offering. This historic partnership represents the first time that a blue-chip global financial institution has embraced an ASP solution for the entire commercial mortgage lifecycle.

Bluewire, the only product of its kind in the commercial real estate industry, is a proprietary, Internet-enabled technology platform for lenders and commercial mortgage banking firms, delivering increased efficiency, productivity and cost-savings throughout the commercial mortgage process -- from quote to close. A software tool that clients integrate into their own technology infrastructures, Bluewire stream-lines and automates key aspects of the entire loan process, from the origination and indicative quotation stage to packaging, data formatting, due diligence, closing and securitization.

"The Internet is fundamentally transforming financial services, and we at J.P. Morgan Mortgage Capital are constantly looking for ways to apply the online medium to better serve our clients, operate more efficiently and grow shareholder value," said Megan Goodfellow, vice president of J.P. Morgan Mortgage Capital Inc.

"There's no better validation of the quality of our product and the fruits of our labor than having a leader and innovator like J.P. Morgan Mortgage Capital as our first Bluewire client," said Heather Shively, CapitalThinking co-founder and CEO. "We made a sizable investment early to develop the technology needed for this ASP offering, and it is clearly paying off."

The announcement comes at a time when a growing number of companies are partnering with technology providers to manage various functions, enabling them to focus on their core businesses and capture the benefits of technology without making massive time and capital investments. Commercial real estate finance is joining a growing list of industries and business functions embracing the ASP model of technology deployment. GartnerGroup estimates the market for ASP products will be $23 billion by 2003.

CapitalThinking also announced that Bluewire will become the company's sole business focus. This strategic move is driven by the overwhelmingly positive response to CapitalThinking's marketing efforts for its ASP offering. By focusing all of its efforts on developing and hosting private-label Internet technology platforms for the nation's leading brokers and lenders, CapitalThinking will accelerate its mission of reengineering the commercial mortgage market by facilitating a large number of transactions and making the process faster, less expensive and more profitable for all parties involved.

"CapitalThinking is a technology company founded on the belief that we could make a real difference in improving the commercial loan process," Shively said.