Bid Tape Management & Best Execution for Lenders
Bid Auction Manager (BAM)® is a bid tape management platform within MCTlive!® that integrates with existing lender and investor processes to encrypt bid tapes so that they can be securely and efficiently priced by investors through a myriad of bid optimization tools. Investors then load tapes back into MCTlive! where they reside in a centralized bid tape repository that can be easily reviewed to achieve Best Execution. Save time, improve margins, and securely transfer bid tapes with a BAM!
Supercharge Your Loan Sale Process with a “BAM!”
No more hours spent sending, receiving, organizing, normalizing, and reviewing bid tapes from a myriad of investors via unsecure emails every time you do a loan sale. BAM saves time and improves margins, whether you use it to streamline your bid tape management or take advantage of robust Best Execution analysis.
Download this file (PDF) to learn more about the benefits of BAM’s bid optimization tools for mortgage lenders.
Interested in Features for Correspondent Investors?
Live market color, timestamp analytics, shadow bidding, and automated bid tape pricing solutions will support your efforts to measure and win market share. Contact us for more information.
Bid Auction Manager Technology Sparks Industry’s First Open Exchange
BAM MarketplaceTM is the best bid management software and the world’s first truly open loan exchange, where buyers can bid regardless of approval status, and sellers receive automated live pricing from every buyer on the platform. A revolutionary new era of maximized liquidity, eliminated barriers, and optimized execution in bid tape management is waiting for you.
MCT clients have experienced average covers such as a pick-up of:
- 46 bps on government production
- 42 bps on loans under $200k
- 89 bps on low-FICO government production.
Join the vanguard of lenders reaping the competitive benefits of BAM Marketplace.
What Clients Are Saying About BAM
“Using BAM saves us two to four hours every time we do loan sales. The convenience of communication and analysis in bid tape management has encouraged us to send bid tapes to our full set of investors. Working with MCT, I feel like we’re in this together—reducing risk and achieving best execution.”
– Timothy Ieyoub, SVP of Capital Markets at Eustis Mortgage
“While our MCT trader has always been amazing, the BAM platform cut down time on our bid turnaround and best-execution comparison, allowing us to execute our commitments quicker and minimize pricing deviations. We can easily see the status of all the bids and commitments, providing us with more oversight into the bid process. We are very pleased with the efficiencies and oversight BAM provides to us.”
– Danni Earl, Secondary Marketing at Starboard Financial
Before BAM
Manual bid tape assembly, cumbersome bid collection and analysis via email- TIME: 2 – 4 hours
- ACCURACY: Potential for “fat finger” mistakes
- SELECTION: Bidding 3 – 5 top investors
- SECURITY: NPI borrower data transmitted via email
- PROFITABILITY: Baseline with manual processes
- DELIVERY: 15 day
After BAM
Automated bidding, commitment, and data writeback via secure platform- TIME: 5 – 10 minutes
- ACCURACY: Seamless automation & two-way integration
- SELECTION: Bidding full investor set
- SECURITY: Data secured & never transmitted via email
- PROFITABILITY: +60 bps in some cases, on top of efficiency gains
- DELIVERY: 7 day
100%
adoption among the investor aggregator community.
1,200+
bid tapes exchanged daily.
$10 billion+
in monthly committed loan volume.
2+ hours saved
by lenders on average per loan sale.
Watch BAM Demo Video
Learn more about Bid Auction Manager from Director of Deployment, Paul Yarborough who will explain more about using the platform for securely encrypting bid tapes and efficiently pricing with investors.
How to:
- Import data
- Generate bid tapes
- Post & collect bids
- Run BAM best execution analysis
- Commit to investors
Bid Auction Manager Features for Lenders
Our real-time mortgage hedging pipeline software, MCTlive! has benefits throughout your company.
Learn more about BAM below or read more about its comprehensive capital markets platform, our Award-Winning MCTlive! Software.
BID TAPE MANAGEMENT
One-click secure distribution, collection, and analysis of bid tapes with your approved bid tape investors.
SHADOW BIDDING
Anonymized shadow bidding functionality helps you explore potential pickup with unapproved investors, and determine whether to start a conversation.
BEST EXECUTION ENGINE
Review or export a prioritized list of possible executions, commit to investors, and receive confirmations at no additional charge.
RAPID MARKET-ADJUSTED PRICING
Increase speed and organization of the entire pricing process for bulk bid tapes within BAM.
LOAN SOFTWARE INTEGRATIONS
Data transmitted through BAM for pricing is retrieved through two-way LOS integrations, making it accurate and easy to set up.
COMMITMENT DATA WRITEBACK
Save time and avoid data entry errors through automation of commitment information back into your LOS.
Bid Auction Manager Benefits
PAYS FOR ITSELF – Lenders of every size tell us how the amount of time they save more than pays for the cost of the service, not to mention the protection of margins and possibility to identify valuable new investors.
INVESTOR APPROVED – BAM has achieved 100% adoption among investors participating in the bulk bid tape
channel. Some investors even manage all their seller bid tapes and associated pricing through BAM!
INFORMATION SECURITY – Nonpublic Personal Information (NPI) found in bid tapes is secured in transit and at
rest, and never transmitted via email.
TEST NEW INVESTORS – Explore the possible impact of adding to your investor set with a robust process to
solicit, collect, and analyze shadow bids.
CAPTURE SPEC PAYUPS – Never miss a payup thanks to CRA eligibility scrubbing and the MCT trade desk’s finger
on the pulse of each investor’s axe.
CENTRAL & HISTORICAL REPOSITORY – One organized location for counterparties to access bid tapes. Discrepancy in price upon delivery? Just reference the original tape and associated pricing.
Let’s Talk About How BAM Will Improve Your Loan Sale Process
Learn more about the benefits of using Bid Auction Manager by reading more on this page or contacting us for a demo.
We look forward to hearing from you and answering any questions you have from software implementation to case studies from other platform users.
Latest News & Educational Articles About BAM
Credit unions can leverage mandatory loan sale delivery to improve profitability and manage risk with pipeline hedging. This paper discusses that, as well as all the operational changes needed to move from best efforts to mandatory loan sales.
Mortgage Capital Trading®, Inc. (MCT), announced the public introduction of BAM MarketplaceTM. Originally launched to support existing MCT sellers during the 2020 pandemic liquidity crisis, BAM Marketplace now welcomes new buyers and sellers as the world’s first truly open loan exchange between unapproved counterparties.
In this case study, Mrs. Mohr describes how MCTlive!, BAM, and bid tape AOT have enabled her team to realize time savings and efficiency gains along with improved margins.