MCT Webinar: New Agency Delivery Limits – Analysis & Recommendations
On January 14, new limits on Agency cash window deliveries were announced for implementation in 2022. Set at $1.5 billion per Agency, these limits would require lenders who anticipate exceeding these limits in a rolling previous four quarters to switch to MBS delivery.
View the webinar recording below from February 19th at 10AM PT.
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About the Webinar:
In this webinar, MCT’s Phil Rasori, Ben Itkin and Andrew Rhodes discuss analysis and recommendations for the new agency delivery limits.
The MCT team covered the following topics:
- Which Lenders & Volume Levels Are Impacted
- Analysis on the Potential Execution Impact for Affected Lenders
- Recommendations for Affected Lenders to Prepare & Mitigate Downside Risks
- Overview of Moving to MBS Delivery
- Demo of MCTlive! Cash vs. MBS Comparison Tool
- Advocacy Update & Next Steps
About the Webinar Presenters:
Phil Rasori, Chief Operating Officer, MCT
Mr. Rasori is a recognized thought-leader in capital markets operations within the mortgage banking community. His areas of expertise include complex financial modeling, computational dynamics, and linear programming for operational optimization. He developed the ground-breaking mortgage pipeline hedging algorithms that form the foundation of MCT’s HALO Program today. He has also pioneered several metrics that have become standard industry parlance, including “beta pull-through” factors. In addition to banking clients, Mr. Rasori has consulted with GSE agencies and the US Government on hedging best practices for community banks. Mr. Rasori has functionally led MCT operations since 2005 and ascended to his current role as COO in 2007.
Andrew Rhodes, Director, Trading, MCT
Mr. Rhodes began his career with MCT in 2005 as the company’s first dedicated loan sale specialist. He initially created investor specific models to accurately produce market based mandatory pricing for all pricing aspects in MCT including rate sheet generation, best executions, and fair market valuations. During the years following his hire, his role was redefined to include client pipeline risk management. Over the years he was able to grow with the company gaining skills and experience in multiple fields in secondary. He was soon after named as SVP of Trading. As a part of his daily operations he has been responsible for overseeing the risk management and loan sale execution for many of MCT’s clients. Outside of the daily operations, Mr. Rhodes has been instrumental in helping to roll out MCTlive’s BAM Platform among many of the other new initiatives at MCT.
Ben Itkin, Managing Director of Business Development, MCT
Mr. Itkin brings more than 17 years of mortgage and capital markets experience to MCT’s management team. He is highly regarded in the mortgage industry, holds deep knowledge in secondary marketing, loan pricing and pipeline hedging. He has been instrumental in expanding and working closely with MCT’s team of trading analysts to provide hands-on service to clients. Prior to MCT, Mr. Itkin was the SVP for BofA’s Negotiated Trade Desk for its correspondent lending channel. Before that, he was the First VP of Negotiated Trading for Countrywide Home Loans, where he also held the position of First VP of Bulk Trading for its correspondent lending business. Mr. Itkin was also a Senior Brand Manager in the warehouse lending unit at Indymac Bank.