Press Release brought to you by Strategic Vantage

RESIDENTIAL MORTGAGE LOANS TRADING ONLINE

03/17/2016

Twelve financial institutions complete $100 million in trades

on Resitrader platform, including FHA and jumbo loans

Los Angeles, March 15, 2016 –  Resitrader, Inc., a Calabasas, California-based provider of whole loan mortgage trade management software, announced that over $100 million of mortgage loans were traded on the company’s whole loan platform in February, the first month of live trading.  And trading in March is off to a robust start with substantial inventory and increased participation.

"Twelve financial institutions completed 24 trades in February," said John Ardy, CEO of Resitrader. The company’s secure platform enables loan originators, banks, servicers, brokers and financial advisors to exchange data, pricing and loan documents related to residential whole loan mortgages in an easy and efficient format.

The mortgages traded on the Resitrader platform in February included FHA-insured loans and  jumbo mortgages, as well as non-QM loans, Ardy said. He anticipates that over 1,000 Community Reinvestment Act loans will board for sale on the platform during March as well as a substantial number of mixed-performance loan pools within the next 30 to 60 days.

"We're very proud of the platform and our success so far,” Ardy said. “We've proven we can support trading of any product type. The process is easy, and as liquidity continues to grow, we think we can become an important intersection for everyone in the secondary market."

“The industry will benefit from using this trading platform by expanding investor relationships and expediting the trading process,” said David Brown, executive vice president of secondary marketing at Skyline Home Loans in Calabasas. “The Resitrader platform allowed for instant analysis of bid levels from multiple potential buyers. All communication took place in the platform, allowing for efficiencies and organization of incoming bids. The system was very streamlined.”

“I was introduced to the Resitrader system just a few weeks ago,” said Jim Modrycki, director of sales for the west region in the correspondent division at Impac Mortgage in Dallas. “The system is very easy to understand, and we were able to effectively make our bids without any issues, as well as get the trade confirmations for the loans awarded to us. Resitrader helped to ensure that the learning curve was a short one and that any bumps were smoothed out immediately.”

Resitrader is a secure platform that automatically normalizes loan data so loan buyers can easily search by investment criteria and loan type. Resitrader also makes it simple for buyers and sellers to communicate in real time, notify each other of loan pools they wish to trade, exchange loan data, documents and pricing information, and settle transactions.  The platform enables users to directly integrate their pricing tools, loan origination systems and service providers.

About Resitrader

Resitrader, Inc. is a Calabasas, California-based provider of whole loan mortgage trade management software. Its whole loan platform enables loan originators, banks, servicers, brokers and financial advisors to exchange loan data, documents and pricing information in order to buy and sell whole loans.  The system enables multiple buyers and sellers to offer, bid and transact simultaneously, and includes an easy-to-use trade settlement process.  For more information, visit www.resitrader.com

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PRESS CONTACT:

Mike Murray

Senior Account Executive

Strategic Vantage
240.498.0863
MikeMurray@StrategicVantage.com

 

Source

Strategic Vantage

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