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The Debt Exchange
The Debt Exchange, Inc. (also known as DebtX), is an American specialty finance company. It is one of the world's largest loan sale advisers for the sale of commercial, consumer and specialty finance debt. History Founded in 2000, DebtX began by selling loans in an online auction format. A dedicated online marketplace is operated for this purpose. Banks use the platform to unload low-performing loans or to trim loans prior to an acquisition. Since its founding, DebtX has expanded to offer other products and services including loan valuation, analytics and CECL solutions as well as web-based deal management platforms for use by syndication, agency and loan sale professionals. According to its website, DebtX prices nearly $1 trillion in loans per month. In 2006 and 2009, The Debt Exchange was awarded patent numbers 7,035,820 and 7,584,139, respectively, by the United States Patent and Trademark Office for its online loan sale and debt trading exchange system. In 2014, DebtX w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
100 Summer Street
100 Summer Street is a high-rise building located in downtown Boston, Massachusetts. The building stands at with 33 floors, over 1.03 million square feet (over 92,000 m2) of office space, and was completed in 1974. It is ranked 24th on the list of tallest buildings in Boston. The building is notable for the distinctive bronze tint of its windows. It was designed in a U-shaped footprint to accommodate a small public plaza. Welton Becket and Associates was the architect. In 1998, EQ Office acquired the building. In 2019 it was sold to the Rockpoint Group. Notable tenants * DebtX * NantHealth * CloudHealth Technologies * Game Show Network *Geode Capital Management * Google * Nixon Peabody * State Street Corporation * Bloomberg L.P. * State Farm * Rapid7 * EverBank * VMware * Bullhorn, Inc. Bullhorn is a cloud computing company headquartered in Boston, Boston, Massachusetts. The company provides customer relationship management (CRM), applicant tracking system (AT ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Failed Banks
A bank failure occurs when a bank is unable to meet its obligations to its depositors or other creditors because it has become insolvent or too illiquid to meet its liabilities. A bank usually fails economically when the market value of its assets declines to a value that is less than the market value of its liabilities. The insolvent bank either borrows from other solvent banks or sells its assets at a lower price than its market value to generate liquid money to pay its depositors on demand. The inability of the solvent banks to lend liquid money to the insolvent bank creates a bank panic among the depositors as more depositors try to take out cash deposits from the bank. As such, the bank is unable to fulfill the demands of all of its depositors on time. A bank may be taken over by the regulating government agency if its shareholders' equity are below the regulatory minimum. The failure of a bank is generally considered to be of more importance than the failure of other types ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Companies Based In Boston
A company, abbreviated as co., is a legal entity representing an association of people, whether natural, legal or a mixture of both, with a specific objective. Company members share a common purpose and unite to achieve specific, declared goals. Companies take various forms, such as: * voluntary associations, which may include nonprofit organizations * business entities, whose aim is generating profit * financial entities and banks * programs or educational institutions A company can be created as a legal person so that the company itself has limited liability as members perform or fail to discharge their duty according to the publicly declared incorporation, or published policy. When a company closes, it may need to be liquidated to avoid further legal obligations. Companies may associate and collectively register themselves as new companies; the resulting entities are often known as corporate groups. Meanings and definitions A company can be defined as an "artificial per ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Online Auction Websites Of The United States
In computer technology and telecommunications, online indicates a state of connectivity and offline indicates a disconnected state. In modern terminology, this usually refers to an Internet connection, but (especially when expressed "on line" or "on the line") could refer to any piece of equipment or functional unit that is connected to a larger system. Being online means that the equipment or subsystem is connected, or that it is ready for use. "Online" has come to describe activities performed on and data available on the Internet, for example: "online identity", "online predator", "online gambling", "online game", "online shopping", "online banking", and "online learning". Similar meaning is also given by the prefixes "cyber" and "e", as in the words "cyberspace", "cybercrime", "email", and "ecommerce". In contrast, "offline" can refer to either computing activities performed while disconnected from the Internet, or alternatives to Internet activities (such as shopping in bri ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Technology
Fintech, a portmanteau of "financial technology", refers to firms using new technology to compete with traditional financial methods in the delivery of financial services. Artificial intelligence, blockchain, cloud computing, and big data are regarded as the "ABCD" (four key areas) of fintech. The use of smartphones for mobile banking, investing, borrowing services, and cryptocurrency are examples of technologies designed to make financial services more accessible to the general public. Fintech companies consist of both startups and established financial institutions and technology companies trying to replace or enhance the usage of financial services provided by existing financial companies. A subset of fintech companies that focus on the insurance industry are collectively known as insurtech or insuretech companies. Key areas Academics Artificial intelligence (AI), blockchain, cloud computing, and big data are considered the four key areas of FinTech. Artificial intelli ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Capital Market
A capital market is a financial market in which long-term debt (over a year) or equity-backed securities are bought and sold, in contrast to a money market where short-term debt is bought and sold. Capital markets channel the wealth of savers to those who can put it to long-term productive use, such as companies or governments making long-term investments. Financial regulators like Securities and Exchange Board of India (SEBI), Bank of England (BoE) and the U.S. Securities and Exchange Commission (SEC) oversee capital markets to protect investors against fraud, among other duties. Transactions on capital markets are generally managed by entities within the financial sector or the treasury departments of governments and corporations, but some can be accessed directly by the public. As an example, in the United States, any American citizen with an internet connection can create an account with TreasuryDirect and use it to buy bonds in the primary market, though sales to individu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Market Liquidity
In business, economics or investment, market liquidity is a market's feature whereby an individual or firm can quickly purchase or sell an asset without causing a drastic change in the asset's price. Liquidity involves the trade-off between the price at which an asset can be sold, and how quickly it can be sold. In a liquid market, the trade-off is mild: one can sell quickly without having to accept a significantly lower price. In a relatively illiquid market, an asset must be discounted in order to sell quickly. Money, or cash, is the most liquid asset because it can be exchanged for goods and services instantly at face value. Overview A liquid asset has some or all of the following features: It can be sold rapidly, with minimal loss of value, anytime within market hours. The essential characteristic of a liquid market is that there are always ready and willing buyers and sellers. It is similar to, but distinct from, market depth, which relates to the trade-off between quantit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Secondary Market
The secondary market, also called the aftermarket and follow on public offering, is the financial market in which previously issued financial instruments such as stock, bonds, options, and futures are bought and sold. The initial sale of the security by the issuer to a purchaser, who pays proceeds to the issuer, is the primary market. All sales after the initial sale of the security are sales in the secondary market. Whereas the term primary market refers to the market for new issues of securities, and " market is primary if the proceeds of sales go to the issuer of the securities sold," the secondary market in contrast is the market created by the later trading of such securities. With primary issuances of securities or financial instruments (the primary market), often an underwriter purchases these securities directly from issuers, such as corporations issuing shares in an IPO or private placement. Then the underwriter re-sells the securities to other buyers, in what is r ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Loan Sale
A loan sale is a Sales, sale, often by a bank, under contract of all or part of the cash, cash stream from a specific loan, thereby removing the loan from the bank's balance sheet. Often subprime loans from failed banks in the United States are sold by the Federal Deposit Insurance Corporation (FDIC) in an online auction format through companies. Performing loans are also sold between financial institutions. See also *Internet Data Exchange (IDX) *Commercial Information Exchange External links Federal Deposit Insurance Corporation {{finance-stub Credit Loans ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Loan
In finance, a loan is the lending of money by one or more individuals, organizations, or other entities to other individuals, organizations, etc. The recipient (i.e., the borrower) incurs a debt and is usually liable to pay interest on that debt until it is repaid as well as to repay the principal amount borrowed. The document evidencing the debt (e.g., a promissory note) will normally specify, among other things, the principal amount of money borrowed, the interest rate the lender is charging, and the date of repayment. A loan entails the reallocation of the subject asset(s) for a period of time, between the lender and the borrower. The interest provides an incentive for the lender to engage in the loan. In a legal loan, each of these obligations and restrictions is enforced by contract, which can also place the borrower under additional restrictions known as loan covenants. Although this article focuses on monetary loans, in practice, any material object might be lent. Ac ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial District, Boston
The Financial District of Boston is located in Downtown Boston, near Government Center and Chinatown. Like many areas within Boston, the Financial District has no official definition. It is roughly bounded by Atlantic Avenue, State Street, and Devonshire Street. Parts of the Financial District are in various USPS postal ZIP Codes, including 02108, 02109, 02110, and 02111. Landmarks The area includes Post Office Square, the Exchange Place and International Place complexes, and the landmark Custom House Tower (now an 87-room Marriott Vacation Club), and borders Quincy Market, Faneuil Hall, and the Old State House. Key companies The Financial District also contains the headquarters of the mutual fund companies Fidelity Investments, Putnam Investments, and DWS Scudder Investments; the world headquarters for State Street Bank and Eastern Bank; accounting firms Wolf & Company, P.C., RSM McGladrey, and BDO USA, LLP; loan advisor The Debt Exchange; the law firms of Bingham Mc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Federal Deposit Insurance Corporation
The Federal Deposit Insurance Corporation (FDIC) is one of two agencies that supply deposit insurance to depositors in American depository institutions, the other being the National Credit Union Administration, which regulates and insures credit unions. The FDIC is a United States government corporation supplying deposit insurance to depositors in American commercial banks and savings banks. The FDIC was created by the Banking Act of 1933, enacted during the Great Depression to restore trust in the American banking system. More than one-third of banks failed in the years before the FDIC's creation, and bank runs were common. The insurance limit was initially US$2,500 per ownership category, and this was increased several times over the years. Since the enactment of the Dodd–Frank Wall Street Reform and Consumer Protection Act in 2010, the FDIC insures deposits in member banks up to $250,000 per ownership category. FDIC insurance is backed by the full faith and credit of the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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