GSE Loan Pricing & Commitment with Intelligent Best Execution Capability
With Rapid Commit, lenders can automate Fannie Mae and Freddie Mac loan pricing and commitment with intelligent best execution capability through application programming interface (API). This technology pairs with MCT’s Bid Auction Manager® to easily price and commit loans to Government Sponsored Entities (GSEs).
With a few short clicks, lenders save time and reduce data errors with MCT’s Rapid Commit technology.
How it Works: Improving Efficiency with Industry Leading Features
MCT’s Rapid Commit leverages the power of MCTlive! and Bid Auction Manager for loan pricing and commitment to GSEs. Clients using Bid Auction Manager within MCTlive! receive loan-level pricing and reduce time committing loans. Once the loan has been sold, the technology automatically writes back loan sale information to many LOS systems. These 3 main features are the core of this revolutionary technology.
GSEs applications are automatically synced via MCTlive! API, no need to log into separate GSE applications
Commitment loans to GSEs in seconds, compared to (in some cases) 20 minutes for just 3 or 4 commitments
Loan sale information can be automatically written back to many LOS systems, saving lenders countless hours per week.
By the Numbers: In 2020, Mutual Clients Commit $116 Billion!
MCT clients who are approved with Freddie Mac and Fannie Mae leveraged the power of Rapid Commit in MCTlive! to improve efficiency in 2020. Lenders who leveraged this tool made more than 141,000 commitments saving 12 hours a month for the top 20% of mutual clients.
hours saved monthly by top 20% of mutual clients
total commitments to GSEs in 2020 through Rapid Commit
billion in total commitment volume in 2020
Learn How Rapid Commit is Adding Efficiency for Mutual Clients
MCT clients who are approved with Freddie Mac and Fannie Mae, increased their number of commitments by more than 400%, from January to December of 2020. Savings hours every week while reducing data errors, is helping many clients focus on other growth areas of their business.
Loan Level Pricing
Loan populations of any size receive loan-level, characteristic-based pricing.
Mutual clients are reducing their commitment process time – and corresponding exposure to market moves – by leveraging this API integration.
Reduce Data Errors
Direct API integration reduces data entry errors and expedites the loan sale setup process.
mutual client commitments in 2020 by month
What Clients Say About MCT Technology
“Rapid Commit within MCTlive! saves me time and has kept me from making potential mistakes. MCT’s platform has also allowed me to accomplish my tasks with a small team. If I had to prepare, send, receive and manage bid tapes by hand I would need to hire another person. Automation also allows me to trust the data is good using checks and balances. These drive a big part of our profitability.”
“MCT has the most experienced secondary people than any company I’ve done business with. I’ve found it’s run by all secondary people that know what secondary people need and they get their technology people to make it happen. I was up and running within an hour – not even. As quick as I could read the emails. Ok it works! I was just amazed at the speed.”
View Related Articles on our Integrations with Fannie Mae & Freddie Mac
- 5/12/2021 – Case Study: Ruoff Mortgage Adds Efficiency with Rapid Commit & Fannie Mae
- 12/2/20 – MCT Whitepaper: Non-Price Considerations in Your Best Execution Analysis (a whitepaper by MCT & Freddie Mac)
- 1/23/20 – Update: MCT Integrates its MCTlive!® Secondary Marketing Software with Fannie Mae’s Pricing & Execution – Whole Loan® Application
- 10/10/19 – Update: MCT Integrates its MCTlive!® Secondary Marketing Software with Freddie Mac for Automated Loan Sale Pricing & Commitment
- 1/30/19 – First Bank Realizes Increased Profitability by Moving to Mandatory Loan Sales
Learn More About the Technology Behind Rapid Commit
MCT clients who are approved with Freddie Mac and Fannie Mae leveraged the power of Rapid Commit in MCTlive! to improve efficiency in 2020. Lenders who leveraged this tool committed more than 44,000 loans to GSEs in 2020.
- MCTlive! – A powerful platform available for day-to-day loan pipeline management, trade positions management, and loan sale best execution. MCTlive! automates repetitive tasks and frees your time for other high-value functions.
- Bid Auction Manager (BAM) – MCT’s digital whole loan trading platform within MCTlive! that integrates with existing lender and investor processes to increase the speed and security of bid tape management while achieving true best execution.
- Rapid Commit – New integrations that automate Fannie Mae and Freddie Mac loan pricing and commitment with intelligent best execution capability. MCT was the first vendor to successfully complete a loan commitment with Freddie Mac’s new API.
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