How does it overcome problems of asset specificity, product rating, product descriptions?
Since the products offered in the secondary market are standardized, problems of assets specificity and product descriptions do not exist. The players in this market know the features of the product offered. Moreover, both Ultraprise and Pedestal have a matching component in their system that would match the criteria of the buyers to the loan pools available for sale. Therefore, this ensures that buyers are getting the product that they want. How does it handle payment issues? Ultraprise Ultraprise.com charges a fixed per-loan transaction fee paid by the buyer. It had until recently (October 6,1999) charged an initial membership fee as well as an annual fee. Because Ultraprise matches the seller to buyers, it does not participate in the payment process. Pedestal Pedestal charges a flat fee for each sale transaction. Pedestal will monitor the diligence and settlement process to insure that payment is made in a timely manner once the sale transaction is completed. How does it build trust
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