New solution enables MCT to efficiently and securely exchange bulk bid loan tapes between lender clients and investors
SAN FRANSISCO, Calif, July 19, 2017 – Mortgage Capital Trading, Inc. (MCT®), a leading mortgage hedge advisory and secondary marketing technology firm, announced at the California Mortgage Bankers Association’s (CMBA) annual Western Secondary Market Conference held in San Francisco that it has released new secondary marketing technology to improve the industry’s existing loan sale practices. Dubbed Bid Auction Manager (BAM®), the solution automates the process of packaging and transferring bulk loan bids, which benefits investors, lenders and MCT’s team of mortgage loan traders.
The solution works by encrypting lender bid tapes so that they can be securely, seamlessly, and efficiently passed to investors for pricing and back into MCTlive!®, the comprehensive capital markets software platform used by MCT staff and clients, where the tapes then reside in a centralized repository that can be easily organized and reviewed. The result is a much quicker pricing process for bulk bid tapes, greater data security, better communication between counterparties, process consistency for investors within their existing platform, and newfound efficiencies for MCT’s traders.
Since correspondent whole loan investors often have unique bulk bidding processes, MCT has developed three different ways that investors can securely transmit bid tape files. Tapes can be uploaded via the browser-based user interface within MCTlive!, through SFTP (Secure File Transfer Protocol), or by way of a Restful API (Application Programming Interface) that enables MCT to integrate with various loan exchange platforms and homegrown investor systems.
To ensure data integrity, MCT accesses lender data via integrations that were developed with their loan origination systems (LOS), the core system of record for lending entities. Each of the transfer methods are data encrypted to ensure security at all times.
“MCT has been realizing significant year-over-year growth and in talking with our investor community, we represent roughly 30 to 40 percent of the typical aggregator’s client base,” said Phil Rasori, COO of MCT. “As a result, we saw a need to develop a technology solution that helps our traders work more easily with our lender clients and effortlessly exchange bulk bid tapes with investors. BAM helps MCT scale as we continue to grow and makes things easier on investors by centralizing the acquisition process for the bulk bid channel.”
MCT will be attending the CMBA Western Secondary Market Conference where it will officially unveil BAM. Contact the company to arrange a discussion time at the show regarding this new technology or for more information about MCT’s hedge advisory services and award-winning secondary marketing software.
Mortgage Capital Trading, Inc. (MCT) is a capital markets-focused risk management and advisory services company providing independent analysis, training, hedging strategy and loan sale execution support to clients engaged in the secondary mortgage market. Founded in San Diego, California in May 2001, the company has expanded to include field sales and support offices in Philadelphia, Dallas, San Francisco, and Charlotte. MCT is a recognized leader in the industry and currently supports more than 150 clients on the HALO (Hedging And Loan sales Optimization) Program. The company also develops and supports MCTlive!™, an award-winning real-time, trading and best-execution secondary marketing platform. MCT’s LockCentral™ is the industry’s largest outsourced centralized lock desk service. In addition, MCT offers a suite of tools and supporting guidance for MSR needs. For more information, visit www.mct-trading.com or call (619) 543-5111.
Chief Marketing Officer
Mortgage Capital Trading