Data we need
Your existing screening criteria and preferred pool-size ranges. Optional: internal grade thresholds for calibration. Read-only access to the registry-aggregate Modular Index.
Keystone for capital partners · Callisto Bridge
Modular as an asset class. With a real benchmark and structured finance data infrastructure underneath.
What is structured finance data infrastructure? A per-asset data + verification layer supporting pool-level securitization products — a signed record of every underlying unit that rating agencies, broker-dealers, servicers, and investors read as the substrate under any ABS, index, or benchmark computed on top of the pool.
The Modular Index gives the same defensible benchmark CoStar gave commercial real estate and Verisk gave insurance. Pricing, production volumes, KeyScore distribution, investment-grade share — live from the underlying registry, not from a quarterly survey. The same registry provides ABS collateral verification and asset-backed securities data verification at the per-unit level, so the pool your NRSRO partner rates and your broker-dealer partner places is defensible collateral by collateral, not by manufacturer attestation.
What's different for you
Three things every capital-partner conversation opens with.
What stays with your partners
SEC-registered broker-dealer partners place any securities. NRSROs issue the credit rating. Keystone is the data and analytics infrastructure — never a broker, never a placement agent, never a rating agency.
What a pilot looks like
License the Modular Index at Standard tier. Get monthly snapshots plus one custom analysis to test against your investment thesis. Pro tier adds sector breakdowns and API access.
Why modular doesn't have a real index today
Modular housing is large, growing, and structurally different from site-built — but nobody can prove it because nobody has the underlying data. Quarterly surveys lag. Manufacturer-reported data is biased. Trade press headlines don't pencil. As a result, modular trades at a spread that has nothing to do with its actual risk profile.
What the Modular Index gives you
- Live benchmarks — average price per unit, avg KeyScore, IG %, net-zero %, resilience mix — recomputed continuously as the registry grows
- Sector breakdowns (Pro tier) — affordable / workforce / supportive / military / hospitality / disaster recovery / education
- Per-region breakdowns (Enterprise tier) — by state, by metro, by HFA jurisdiction
- Custom benchmarks (Enterprise tier) — your portfolio vs the index, your manufacturer vs peer cohort
- Raw underlying data (Enterprise tier) — de-identified module-level records for your own analysis
The Capital Rail adjacency
If you're committed to a modular thesis as an LP or fund manager, Capital Rail gives you pool-level pre-screen analytics for securitization or warehouse vehicles — the same KeyScore underlying the Index drives the AAA → NR indicative pool grade. NRSRO-registered partners formalize the official credit rating; SEC-registered broker-dealer partners place the securities. Same data, two products, same partner-model architecture.
Who this is for
- Data platforms — CoStar, Verisk, ICE Mortgage Technology partnering or licensing
- Investment banks — research desks tracking modular securitization as a strategy
- Fund managers — modular-focused funds raising or deploying
- Institutional LPs — evaluating commitments to modular fund managers
- Foundations + impact funds — PRI + recoverable-grant deployers tracking impact + return
- REITs + private credit — underwriting modular as a strategy
How the regulated work happens. The Modular Index is unregulated industry-data licensing. Capital Rail outputs indicative pool-grade analytics; NRSRO-registered rating agencies issue the official credit ratings and SEC-registered broker-dealer partners execute placement on any rated securitization. Keystone is the data layer underneath both products — see the partner-model architecture for the full counterparty mapping.
Licensing tiers
Standard, Pro, and Enterprise annual licensing tiers. Specific fee levels set per engagement. Pilot period included. Custom benchmarks scoped per-engagement at the Enterprise tier.
The benchmark you're missing already exists in the underlying data. Keystone surfaces it.
Related · Applied AI
Also worth knowing about for your portfolio companies.
Applied AI is Callisto Bridge's R&D-grade AI capability partnership. Vertical SaaS platforms and industrial OEMs inside your portfolio can use it to ship AI features without hiring an ML team. Same commercial pattern as Keystone.
GUIDED DEMO WALKTHROUGH FOR YOUR ROLE
Walk the live demo through your lens. A 4-step script tells you which tabs and numbers to look at first.
Open the Capital partner / index licensee walkthrough on the demo →
No signup, no auth wall. The guided script lives at the top of /demo/; the live demo runs below it.
Next step
License the Modular Index.
Pick a tier. Pilot period included. The benchmark is computed; you just plug in.