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What Others Are Saying
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"Marketcore’s proprietary methods offer the only structural innovation I have seen that promises to revive the securitized residential mortgage market and to do so without the need for government guarantees. These methods create positive incentives for voluntary information disclosure. The transparency such disclosures create would close the often low- to mid-double digit bid/offer spreads that are paralyzing the market. Particularly in light of the well publicized strains on Federal Government finances, active steps toward implementing these innovative methods should be a national priority."
David M. Rowe, PhD.
(in a speech given at a luncheon hosted by the Center for Insurance Policy and Research to honor contributors to their white paper "Financing Home Ownership," November 30 2012.)
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"An inventor named Michael Erlanger is the owner of the intellectual property mentioned [by David M. Rowe, PhD]. Going beyond the Transaction Credit™, Mr. Erlanger has outlined all the businesses processes necessary to add transparency and restore the RMBS markets for the benefit of insurers and other investors. His company, Marketcore, should be included as part of the solution. The business processes described on the Marketcore website (www.marketcore.com) involve the electronic “trading” of risk-detailing disclosures in exchange for more efficient, better-functioning financial markets. The transaction platform would be both optional and voluntary. His recommended processes go beyond the RMBS markets and would potentially cover all of structured finance."
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"[T]he Marketcore business process can quantify and reduce risk to help restore financial markets to good health. The reason [t]his invention works for capital markets products is twofold. First, if an electronic system is developed to enable the transactions and capture the transaction data, the administrative costs to all parties to the transaction would be reduced. Second, there is always a cost of risk associated with a capital markets product that is related to uncertainty. The greater the uncertainty, the greater the cost of the element of the capital markets product associated with the transfer of that risk between the parties. If the uncertainty surrounding the risk is reduced, then the cost of risk is reduced and the overall cost of the product is reduced. The Marketcore invention appears to reduce uncertainty and enable a more complete identification of risk in financial products. All parties to the transaction benefit from the reduced transaction costs."
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"Marketcore's invention may be the most important innovation in the last 200 years: it is capable of radically democratizing information."
Rawle O. King
Specialist in Financial Economics and Risk Assessment,
Banking, Insurance, Securities, and Macroeconomic Policy Section,
Government & Finance Division,
Congressional Research Service, Library of Congress, October 2011
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"While markets don't require theoretically "perfect information" to function effectively, they do require adequate information. I have argued elsewhere that "(T)he ever-increasing complexity of collateralised debt obligations, driven by compound repackaging and lack of ready access to the characteristics of the underlying collateral, tested (the Efficient Markets Hypothesis) to the breaking point."*
Adoption of Marketcore's business process innovation would radically transform private incentives in favor of increased disclosure and greater transparency, without intrusive and expensive regulations based on a command and control approach."
* See "Markets are not Magic", D, Rowe, Risk magazine, June 2009, p. 101.
David M. Rowe, Ph.D.
President, David M. Rowe Risk Advisory, October 2011
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"Marketcore's invention looks at the DNA of risk."
Dr. Erwann Michel-Kerjan
Managing Director, Wharton Risk Management and
Decision Processes Center at the University of Pennsylvania,
World Economic Forum Young Global Leader, October 2011
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"The Marketcore framework is friendly to all stakeholders: consumers, bankers, exchanges, brokers, agents, investors and regulators. It facilitates efficient implementation of Dodd Frank legislation with negligible regulatory costs; that is, the framework enables profitable compliance with the upcoming 300 rules."
Hugh Carter Donahue, Ph.D.
Policy Analyst, October 2011
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"It's a truth-telling machine."
Curt Deane
Deane Group
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"The license of Marketcore's intellectual property is an important element in the development of the Insurance Exchange. The exchange will facilitate the submission, rating and underwriting workflow between insurance brokers, agents, carriers and wholesalers while capturing relevant market analytics."
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"Timely and well-thought out... the best solution I have yet seen"
Eric Nordman
Director of Research, NAIC, November 2004
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"We can consider the Internet as being in its third generation, and the Marketcore business model as being typical of the fourth generation... The fourth generation of the Internet will be characterized by e-commerce sites whose business model is, more or less, not analogous to any business in the real world and which could not exist without a population that could have ubiquitous access to a data network (e.g., the Internet)."
Jason Paul DeMont
Patent Attorney, 1999
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"Marketcore has devised a market-based solution in which market participants provide economic incentives so that no matter what new risks or products come to dominate financial markets, information will be continuously shared, improving transparency, increasing liquidity, decreasing volatility and allowing regulators to spot systemic risks as early as possible."
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