MCT Wins PROGRESS in Lending Association's 2018 Innovation Award

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Wildly successful launch and widespread industry adoption of BAM, along with numerous secondary marketing automation efficiencies, cited as key reasons for winning the prestigious technology award

SAN DIEGO, Calif, April 18, 2018 – Mortgage Capital Trading, Inc. (MCT®), a leading mortgage hedge advisory and secondary marketing software firm, announced that PROGRESS in Lending Association, the industry’s premier mortgage technology focused organization, presented the company with its annual Innovation Award for the rapid adoption and impact of its Bid Auction Manager (BAM®) within the whole loan trading market.

Officially unveiled in July of 2017 at the Western Secondary Market Conference in San Francisco, BAM significantly enhances the industry’s loan sale practices. The solution completely automates, centralizes and streamlines what used to be an unsecure, fragmented, and largely manual process of exchanging, pricing, and analyzing bid tapes for loan sales. Lenders, investors, and MCT’s team of mortgage loan traders benefit from a consistent process, greater transparency, and a centralized repository for bid tape management. BAM is easily and securely accessed by permissioned parties via MCT‘s award-winning capital market software platform, MCTlive!™.

Now in its eighth year, the highly competitive annual Innovation Awards were presented to winners at a prestigious ceremony held by PROGRESS in Lending Association at the MBA’s National Mortgage Technology Conference in Detroit, Michigan on Sunday, April 15. Judges scored applications using a weighted scale that focuses on achievements over a 12-month period for each innovation’s overall industry significance, originality, positive change on the industry, intangible efficiencies gained, and hard return on investment.

“BAM is truly industry-altering fintech that is changing the way bulk bid loan tapes are transferred between lenders and investors,” said Phil Rasori, COO at MCT and Chief Architect of BAM. “As we continue to add functionality and make the solution more robust, ultimately, what BAM is achieving is helping move the mortgage industry toward digital loan trading on the secondary market. We are extremely honored to have been recognized by PROGRESS in Lending as a 2018 Innovation Award winner.”

Since launching BAM, functionality has been added for both lenders and correspondent investors, with several notable metrics that have been achieved:

  • 100% adoption among the investor aggregator community
  • 1,200+ bid tapes exchanged daily
  • $7 billion+ in monthly committed loan volume
  • 2+ hours saved by lenders on average per loan sale
  • Shadow bidding facilitates identifying and testing new investors
  • Commitment data write-back saves time and prevents data entry errors
  • Live color reports put actionable data in the hands of sellers
  • Timestamp analytics help measure and optimize operations

“Using BAM saves us 2 to 4 hours every time we do loan sales. The convenience of communication and analysis has encouraged us to send bid tapes to our full set of investors more often rather than just the top-tier, resulting in a surprising pickup in some cases,” said Timothy Ieyoub, SVP of Capital Markets at Eustis Mortgage. “We used to bid out on a 15-day delivery, but now we’ve reduced that to 7-days. Working with MCT, I feel like we’re in this together —reducing risk and achieving best execution.”

Lenders and correspondent investors interested in learning how BAM can improve their whole loan trading processes are encouraged to request a demonstration at the upcoming National Secondary Conference in New York City, where new features are expected to be announced.

About MCT:
Founded in 2001, Mortgage Capital Trading, Inc. (MCT) has grown from a boutique mortgage pipeline hedging firm into the industry’s leading provider of fully-integrated capital markets services and technology. MCT offers an array of best-in-class services and software covering mortgage pipeline hedging, best execution loan sales, outsourced lock desk solutions, MSR portfolio valuations, business intelligence analytics, mark to market services, and an award-winning comprehensive capital markets software platform called MCTlive! MCT supports independent mortgage bankers, depositories, credit unions, warehouse lenders, and correspondent investors of all sizes. Headquartered in San Diego, California, MCT also has offices in Philadelphia, Santa Rosa, Los Angeles and Dallas. MCT is well known for its team of capital markets experts and senior traders who continue to provide the boutique-style hands-on engagement clients love. For more information, visit or call (619) 543-5111.

Ian Miller
Chief Marketing Officer
Mortgage Capital Trading

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