Ferguson and Shively launch first site that can manage e-finance solutions.CapitalThinking (www.CapitalThinking.com) is one of the only online commercial mortgage marketplaces providing complete e-finance solutions to the U.S. commercial mortgage industry. By combining cutting-edge Internet technology with experienced real estate professionals, CapitalThinking's solution brings unmatched efficiency to the entire process of securing and closing commercial real estate loans. Launched March 1, CapitalThinking is the brainchild brain·child n. An original idea or plan attributed to a person or group. brainchild Noun Informal an idea or plan produced by creative thought Noun 1. of Charles Ferguson and real estate finance veteran Heather Shively. The first e-business site designed to carefully manage labor-intensive, document-burdened commercial finance transactions while allowing for significantly quicker closings. CapitalThinking closed its first loan on May 16, a $2.8 million multi-family acquisition deal funded by J.P. Morgan. The loan closed in forty days. "CapitalThinking's mission is to serve the needs of lenders, mortgage brokers and borrowers by accelerating the process of closing commercial loans," says Shively, the company's Co-Founder and Chief Executive Officer. "Commercial real estate lending is an inherently complex area with many moving parts Moving parts are the components of a device that undergo continuous or frequent motion, most commonly rotation. "Parts" only include the mechanical components which does not include fuel, or any other gas or liquid. , and our Internet solution streamlines loan inquiry, underwriting and closing procedures. Incorporating leading-edge technology backed by veteran commercial real estate underwriters, our business model adds value by increasing efficiency and lowering transaction costs Transaction Costs Costs incurred when buying or selling securities. These include brokers' commissions and spreads (the difference between the price the dealer paid for a security and the price they can sell it). ." A 20-member in-house technology group has collaborated for the past year with CapitalThinking's industry-leading team of real estate professionals to successfully re-engineer the commercial real estate finance process. The result is unprecedented speed and efficiency in the commercial lending process and a reputation for placing the highest quality, properly matched deals in the business. Using CapitalThinking's web-enabled deal processing system -- which includes a third-party interface allowing 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. providers online participation in active deals -- brokers, borrowers and lenders benefit by closing better deals faster, with less paperwork. CapitalThinking offers mortgage bankers Mortgage Banker A company, individual or institution that originates, sells and services mortgage loans. Notes: Don't confuse a mortgage banker with a mortgage broker. and brokers access to a large network of capital sources -- conduits, money center banks Money center banks Banks that raise most of their funds from the domestic and international money markets , relying less on depositors for funds. , insurance companies, regional banks and non-traditional lenders. By working with CapitalThinking, brokers can increase deal flow and expedite closing times by effectively automating their back offices and harnessing the power of the Internet for their clients. CapitalThinking prepares highly professional loan packages in lender-specific underwriting formats, and gives mortgage bankers/brokers the ability to track the status of deals on a user-friendly internet site as well as the ability to manage third parties involved in the due diligence and closing process. By leveraging CapitalThinking's investment in technology and systems development, brokers and mortgage bankers realize increased productivity, profitability and client satisfaction. For borrowers, CapitalThinking offers wider access to funding choices, faster closing times, reduced paperwork, and increased control of the process. CapitalThinking also provides real-time access to loan rates tailored to specific deals and unprecedented access to tools and resources. (e.g. loan calculators, industry data, etc.), as well as online, real-time deal status information that accounts for all the parties involved. For borrowers seeking direct funding, CapitalThinking offers quick pricing alternatives and rapid loan sourcing through the most technologically advanced and structurally robust site in the industry, delivering highest quality national and regional banks, insurance companies and conduits. CapitalThinking delivers premium-quality preliminary underwriting analysis to the lender community, with transactions pre-scrubbed by the industry's largest group of seasoned professionals to ensure deals are properly packaged and in line with lender appetites. Using a proprietary database matching system, virtually all supporting documentation is electronically distributed and custom tailored in the lender's own underwriting format to minimize duplication and reentry reentry n. taking back possession and going into real property which one owns, particularly when a tenant has failed to pay rent or has abandoned the property, or possession has been restored to the owner by judgment in an unlawful detainer lawsuit. of data. CapitalThinking's systems integrate directly with a lender's legacy systems and back office. A central document repository, with access on a permission basis from the lender; helps streamline document processing Processing text documents, which includes indexing methods for text retrieval based on content. See document imaging. and features an automated tracking system for all parties to know the status of the transaction at any given time. CapitalThinking currently offers brokers and borrowers access to a well-diversified group of 23 of the nation's top lenders. Loans in CapitalThiniking's pipeline represent mezzanine, fixed rate (including small loan), floating rate, construction, mezzanine/preferred equity, and credit tenant lease A credit tenant lease is a method of financing real estate. The landlord borrows money to finance the property and pledges as security the rents to be received from the tenant. lending. CapitalThinking recently closed a $15 million second round of venture capital financing To start an own company or to bring a new product to the market, the venture may need to attract financial funding. There are several categories of financing possibilities. If it is a small venture, then perhaps the venture can rely on family funding, loans from friends , led by Bessemer Venture Partners Bessemer Venture Partners is a private venture capital firm with offices in Silicon Valley, New York, Massachusetts, China, and India. It has backed such companies as Ciena, Flarion, Parametric Technologies, Skype, Staples, VeriSign and Veritas. and RRE RRE Red Rock Eater (News Service) RRE Road Race Engineering RRE Remote Roof Easy RRE Residential Real Estate RRE Rise-And-Run-Length Encoding RRE Royal Radar Establishment (Great Britain) Ventures. iStar Financial and ABP 1. (networking) ABP - Alternating bit protocol. 2. ABP - Microsoft Address Book Provider. Investments also committed funds. Aberdare Ventures led the company's first-round financing of $3.4 million raised in September 1999. |
|
||||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion