Debt Exchange

The Debt Exchange, Inc. (also known as DebtX), is one of the world’s largest loan sale advisers for the sale of commercial, consumer and specialty finance debt.[1] Since its founding, DebtX has expanded to offer other products and services including loan valuation, analytics and CECL[2] 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.[3]

The Debt Exchange is based in the Financial District of Boston, Massachusetts, with additional U.S. offices in New York City, Atlanta, and San Francisco, and European offices in Germany, Spain, Italy, and the United Kingdom.[4] It previously also had an office in McLean, Virginia. Founded in 2000, DebtX began by selling loans in an online auction format. 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.[5] In 2014, DebtX was awarded a third U.S. Patent No. 8,639,614 for its DXSyndicate product.[6]

Throughout the financial crisis of 2007–2009, the U.S. Federal Deposit Insurance Corporation (FDIC) used DebtX as one of the primary companies to sell loans from failed banks.[7]

References

  1. ^https://www.debtx.com/corp
  2. ^https://www.debtx.com/corp/credit-default-analytics/
  3. ^https://www.debtx.com/corp/history/
  4. ^https://www.debtx.com/corp/contact-us/
  5. ^https://www.debtx.com/corp/history/
  6. ^https://www.debtx.com/corp/history/
  7. ^https://www.debtx.com/corp/news/debtx-to-sell-424-million-in-loans-for-fdic/

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