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Jersey City, NJ-Douglas Bendt and Charles Ramsey fell in love with analytics when they were both working for major Wall Street firms back in the '80s. Today, they've translated that affinity for facts into a thriving business serving the growing 125% LTV mortgage sector.
Mortgage Risk Assessment Corporation here is the result of their combined experience and provides lenders statistical property valuation services as well as targeted data for their marketing efforts.
In 1989, Mr. Bendt was a vice president for Dow Jones Telerate in its mortgage securities group. He was instrumental in developing that firm's short-term prepayment model, which was based on a combination of public record information and private information developed inside DowJones.
In the process, Mr. Bendt developed a thorough understanding of the predictive power of public record information. The experience would prove to be vital when he moved on to start and become president of his own firm.
It was also during this period that he met Charles Ramsey.
Mr. Ramsey was then head of MBS sales and trading for Bear Stearns and a client of Mr. Bendt. Today he serves with Mr. Bendt as CEO.
Started in 1992, Mortgage Risk Assessment quickly forged alliances with maior ublic record information providers and developed its...