The Rockport Story
The Rockport Story
At the center of our story is our legendary leader, Rick Trepp, of Trepp® fame. Rick has over 40 years of experience as a pioneer in the CRE industry - founding and managing five successful companies that were built from the ground up. We carry this rich history and deep industry knowledge through everything we do.
1979
Founded Trepp & Co and became the first independent non-“Big 8” accounting firm approved by S&P to provide cashflow models for tax-exempt housing finance.
1982
Rick is asked by the White House & Treasury to provide math and computer models for the TIMS tax legislation, which eventually passed as the REMIC provisions in the 1986 Tax Act.
1986
Founded Trepp Information Services, to build the first database for Residential Collateralized Mortgage Obligations (CMOs). Rick is selected by the Public Securities Association to design, develop and operate as a joint undertaking with PSA the first CMO Information Service to support secondary trading.
1988
Rick is selected as Financial Manager for the forerunner to CMBS-securities issued in the mid to late 1980s-before RTC and the CMBS market even existed.
1990
Trepp Information Services sold to Thompson Reuters.
1990s
Commenced modeling Commercial Mortgage-Backed Securities (CMBS) as they were being issued, to simplify the surveillance of CMBS by major investors. This effort evolved into Trepp®.
1998
Contributed to Fabozzi’s Textbook on the Industry. In his chapter, he published a diagram of what he would spend the next 25 years turning into reality. Click here to see the picture that started it all.
2002
Founded Rockport™, an Enterprise-level SaaS platform for commercial mortgage loan origination, underwriting, and asset management.
2004
Trepp® sold to UK media conglomerate DMGT.
2011
Established TreppPort, a joint venture between Trepp® and Rockport™. TreppPort was an innovative platform that uniquely overlayed Trepp’s CMBS data into Rockport’s infrastructure, enabling clients to manage their entire suite of CRE investments whether at the Bond, Loan, or Property level within one platform; thereby facilitating CRE investment & surveillance. TreppPort grew into the dominant provider of CMBS market data-powered enterprise systems. TreppPort was acquired by Rockport in 2020.
2015
Selected by Fannie Mae to build and provide DUS Disclose®.
2016
Acquired Majority Ownership of MBS Mortgage Systems, LLC, a cutting-edge loan accounting and servicing system.
2017
Founded Rockport VAL, which in collaboration with Moody’s Analytics, is the long-awaited Alternative that the industry has been asking for. VAL provides a revolutionary, cloud-based cash flow modeling and valuation platform, leveraging cutting-edge technology.
2018
Selected by Fannie Mae to build and provide DUS Insights®.
2019
Rick is named a 2019 Influencer in CRE by Real Estate Forum.
Selected by Fannie Mae to build and provide DUS 360™, its future state internal asset management platform.
2020
Rockport adds its 50th active client.
2021
Rockport adds its 100th active client.
2022
Rockport adds its 200th active client.
2023
Rockport VAL is selected by major banks to be their exclusive calculative tool for DCF Valuations.
Bonds are only as good as the loans underneath them. Loans are only as good as the properties underneath them. Properties are only as good as the tenants underneath them. To properly understand the credit of one of the instruments, you must understand it all. That’s what we have spent the last 30 years building.
Looking ahead to the future
While a history like that might convince many to hang up their spikes, Rick Trepp is only getting started. Rockport has finally built the rock-solid infrastructure necessary to really innovate and as a highly successful, privately-owned company, he can think long term as he executes on his third 20-year plan.
2025
Become the new standard in discounted cashflow valuation.
2030
Rolls out Rockport Omni, the all-in-one system which becomes the operating system underlying every CRE firm and allows instantaneous exchange of information between firms.
2040
Rick is keeping 2040 to himself. Check back in the future!