Introducing CoStar for Lenders, a revolutionary live integration of data, models and analytics for commercial real estate lending
WASHINGTON–(BUSINESS WIRE)–Today, CoStar Group, Inc. (NASDAQ: CSGP) announced the launch of CoStar for Lenders, a fully integrated platform that combines a user’s commercial real estate loan portfolio with the power of advanced properties of CoStar; market analyses; and the proprietary COMPASS credit default model, a premier tool for over 17 years.
Users will have access to data from the largest commercial real estate research organization, including 4.6 million sales, 10.5 million rentals, information on over 8.1 million tracked tenants, and more.
“CoStar for Lenders is truly revolutionary,” said Andrew Florance, Founder and Managing Director of CoStar Group. “For the first time, we’ve created a live connection between a user’s loan portfolio, CoStar’s unparalleled data, market analytics, our various online marketplaces, and our proprietary COMPASS Credit Default Model. Our Clients will now have a lending solution unparalleled in the commercial real estate industry.”
CoStar for Lenders is also addressing one of the most challenging accounting changes of the past decade by supporting commercial real estate lender compliance with the current Expected Credit Loss (ECCL) requirement. The platform’s focus on easy implementation, data quality, risk modeling and reporting supports CECL readiness and compliance.
CoStar for Lenders is the product of half a decade of research and development by CoStar’s risk analysis team. The platform has been meticulously designed with simplicity in mind, making it easy to streamline complex modeling and analysis, giving small and medium-sized financial institutions access to a powerful debt management platform. risks. With CoStar for Lenders, users will also be able to:
Eliminate inefficient processes with all relevant information integrated into one platform
Effortlessly screen loans on 6.8 million properties and win more deals
Manage risk with increased confidence using the most mature credit model in the industry
Report to regulators with more credibility and resistance to scrutiny
To learn more about CoStar for Lenders, visit CoStar.com/CoStarforLenders.
About CoStar Group, Inc.
CoStar Group, Inc. (NASDAQ: CSGP) is a leading provider of online real estate marketplaces, information and analytics. Founded in 1987, CoStar conducts extensive and ongoing research to produce and maintain the largest and most comprehensive database of commercial real estate information. Our suite of online services allows clients to analyze, interpret and gain unparalleled insight into commercial property values, market conditions and current availability. STR provides premium benchmarking data, analysis and market intelligence for the global hospitality industry. Ten-X provides a leading platform for conducting online auctions and negotiated offers in commercial real estate. LoopNet is the busiest online marketplace for commercial real estate. Apartments.com, ApartmentFinder.com, ForRent.com, ApartmentHomeLiving.com, Westside Rentals, AFTER55.com, CorporateHousing.com, ForRentUniversity.com and Apartamentos.com form the premier online apartment resource for renters looking for superb apartments and provide property managers and owners with a proven platform for marketing their properties. Homesnap is a leading online and mobile software platform that provides user-friendly applications to optimize residential real estate agent workflow and strengthen the agent-client relationship. Homes.com provides residential property advertising and marketing services to real estate professionals. Realla is the UK’s most comprehensive digital commercial property marketplace. BureauxLocaux is one of the largest real estate portals specializing in the purchase and rental of business real estate in France. CoStar Group websites attract tens of millions of unique visitors per month. Based in Washington, DC, CoStar Group has offices in the United States, Europe, Canada and Asia. From time to time, we plan to use our corporate website, www.costargroup.com, as a channel for distributing important company information. For more information, visit www.costargroup.com.
This press release contains “forward-looking statements”, including, without limitation, statements regarding the CoStar Group’s expectations, beliefs, intentions or strategies regarding the future. These statements are based on current beliefs and are subject to numerous risks and uncertainties that could cause actual results to differ materially from these statements, including the risk that CoStar for Lenders may not produce the expected results or provide not the expected benefits to industry participants and users. as stated in this press release. Further information about potential factors that could cause actual results to differ materially from those anticipated in the forward-looking statements includes, but is not limited to, those set forth in documents filed by the CoStar Group from time to time with the Securities and Exchange Commission, including in CoStar’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021, which is filed with the SEC, including in the “Risk Factors” sections of this filing, as well as other documents filed by CoStar with the SEC, available at the SEC’s website (www .sec.gov). All forward-looking statements are based upon information available to CoStar Group as of the date hereof, and CoStar Group undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.