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About …

Madison Associates, LLC™ develops loan origination and portfolio management software for commercial real estate lenders and commercial lenders. The Company distributes its own software, The Madison System™, for lease to clients. Madison was co-founded by John D. Lindsay and Peter R. Lloyd-Davies, Ph.D. Each Principal has over 20 years of experience in the financial services and software development industries with a concentration in commercial real estate lending applications.


John D. Lindsay, Head of Software Development

John is a co-founder and head of Software Development for Madison Associates LLC™. He has over 20 years of software development experience. Earlier, he was head of software development for Madison RealTech, Inc. John was Vice President of DocuDisc, Inc., and managed the design of fixed income financial programs and hypertext information systems. In 1992 he was a co-founder and principal of Lindsay & Ward which creates specialty information systems and fixed income financial products. John was Vice President of PaineWebber, Inc., and served as a member of the Municipal Quantitative Services and New Products Group where he authored financial and information software systems for mortgage housing, infrastructure, health care, transportation, utilities, student loans and government trading. He also developed a portfolio optimizer for the Government Deal Desk that has been used to structure and execute more than $70 billion in fixed income securities. John began his software development career at McDonnell Douglas Corporation in the information Systems Group.

Peter R. Lloyd-Davies, Ph.D., Director of Research and Client Services

Peter is a co-founder and Director of Research and Client Services for Madison Associates LLC™. Before that he was Director of Research for Trepp, LLC, where he consulted to the FDIC regarding the disposition of over $6 billion of commercial and residential mortgage assets of failed financial institutions, and also advised the FDIC regarding large commercial real estate securitizations. Earlier Peter was Vice President of Financial Research for Freddie Mac where he was responsible for advising the corporation on a wide range of policy matters including risk analysis, loan pricing policy, mortgage and security product design, hedging strategies, and tax analysis. Previously, he was an economist at the Federal Reserve Board, and also served as visiting professor at New York University. He began his career as an assistant professor at the University of Rochester’s graduate school of management. Peter received his Ph.D. in economics from Rice University and B.A. from Oxford University, England.