Founded in 2000, The Debt Exchange, Inc. (DebtX) was started to provide liquidity for loans and enable financial institutions to actively manage their portfolios by selling and buying loans via an Internet loan marketplace. The DebtX platform was utilized on a proprietary basis by DebtX’s Loan Sale Advisory Group until 2005, when DebtX offered its clients direct access to the marketplace. The marketplace has since grown to include hundreds of loan sellers and syndicators, and more than 100,000 primary and secondary market participants.
For more than 15 years, DebtX has collected trade data on transactions executed via the DebtX marketplace and has leveraged this data to provide independent, reliable and defendable estimated market prices on nearly $1 trillion in loans per month. DebtX recently launched DXScore®, a credit rating system for commercial real estate (CRE) loans, using this same data to calibrate its models. DebtX is the only company with such market insight, data, and industry experience.
Below are some of the more significant milestones of our history at DebtX:
DebtX is founded in Boston, Massachusetts; launches Version 1 of the DebtX loan marketplace.
DebtX deploys online English Auction technology, executes first open outcry auctions.
DebtX launches DXMark®, the industry’s first mark-to-market product for commercial real estate loans and portfolios based on actual data from secondary market loan sales.
DebtX expands internationally with its first loan sale in Europe.
DebtX offers institutions direct access to its online loan sale platform through DXOpen® and DXSyndicate®.
DebtX is awarded U.S. Patent No. 7,035,820 for its online loan sale and debt trading system.
Federal Deposit Insurance Corporation (FDIC) signs DebtX to five-year Recurring Basic Ordering Agreement (RBOA) to sell assets out of FDIC receiverships. DebtX ramps organization to support FDIC throughout the banking crisis.
DebtX’s DXMark loan pricing data becomes available via the Bloomberg Professional Service; loan sale volume exceeds $10 Billion.
DebtX is awarded a second U.S. Patent No. 7,584,139 for its online loan sale and debt trading system.
DebtX expands operations into Latin America. Average valuation volume exceeds $850 Billion in loan principal balance per month.
DebtX expands operations into China. HUD signs DebtX to exclusive contract to develop single family residential (SFR) loan sale program under the Mortgage Acquisition and Recovery Initiative (MARI) pilot.
National Asset Management Agency (NAMA) of Ireland selects DebtX for US and European panels to help resolve the Irish debt crisis. DebtX helps HUD convert from MARI pilot to the Distressed Asset Stabilization Program (DASP), increasing sale volume to more than 10,000 loans sold for the year. Over 500 sellers have used DebtX to sell loans since inception. FDIC awards DebtX a second five-year RBOA to sell assets out of FDIC receiverships.
DebtX expands DASP and sells 62,000 single family loans totaling $10.8 billion. DXMark service SSAE 16 audited and certified.
DebtX is awarded a third U.S. Patent No. 8,639,614 for its DXSyndicate product.
DebtX launches DXScore®, a numerical loan rating system for commercial real estate loans.
DebtX launches DebtX 7, a powerful new version of its loan trading platform that enables buyers and sellers to execute transactions faster and easier.
DebtX. Meeting institutions’ portfolio management and liquidity needs since 2000.