CMBS 2.0   :  By Jim Flaherty, President & CEO of CMBS.com

The MBA Commercial/Multifamily Servicing and Technology Conference I just attended was much more about business issues that servicers face (covenant violations, defaults, foreclosures and a general lack of liquidity) than how technology can help solve those issues. While words like transparency and efficiency were sometimes used, the belief that technology is need to achieve these goals seemed lacking.

That being said, there were several positive signs that standards might be achievable:

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We announced at the MBA Commercial/Multifamily Servicing and Technology Conference in New Orleans that C-MISMO has authorized the creation of new standards for rent rolls and operating statements.

To better aid all CRE investors/lenders, we have reduced our focus on the CMSA’s CMBS-centered IRP 6 (which we support) to instead concentrate on establishing broader commercial real estate standards.

I was named Chairperson of the effort. We plan to have these standards finalized by the end of summer.

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CMBS Leads launched on Friday! It feels great to have the launch push behind us. Now we can focus on selling!

This week I’m headed to New Orleans for the MBA Commercial/Multifamily Servicing and Technology Conference. I am speaking on three panels:

1. MISMO® – Data Standards for the Brave New World of Transparency & Efficiency

2. Where can Investors get their data

3. The Future of Reporting

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We plan to launch our CMBS Leads product at the end of the week. We are currently putting the finishing touches on the tool, and we are really proud of it.

CMBS Leads is an affordable, Web-based way to find and manage leads for CRE refinancing and distressed asset purchases. The application is an intuitive interface where you will:

• Find leads that are maturing, in default or in foreclosure.
• Create lead lists to manage different types of opportunities.
• Manage and report contact history at the loan level, and more.

We hope you’ll find plenty of value in the Leads product — and that the tool and data empower you to “Make your own opportunities with CMBS Leads!”

Download the CMBS Leads Brochure

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I sit on the Commercial Mortgage Industry Standards and Maintenance Organization’s Commercial Board of Governors (C-MISMO BOG) and we have been active this month working on two things:

• Creating a MISMO action plan to make MISMO relevant and to help the CMSA get IRP 6 approved.
• Preparing for our panel session at the MBA Commercial/Multifamily Servicing and Technology Conference in New Orleans May 12–15.

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