Loan Hedging Company Links With Secondary Market Trading Platform
Flatirons, Resitrader partnership enables servicers to trade loans and hedge portfolios simultaneously
September 29, 2016 – Williamsburg, VA – Flatirons Capital Management, LLC (FCM), a Williamsburg, Virginia-based secondary market service provider that helps residential mortgage companies hedge their portfolios against interest-rate risk, and Resitrader, Inc., a Calabasas, California-based provider of whole loan mortgage trade management software, have announced a strategic partnership to offer customers a new bulk trade management tool.
Under the terms of the deal, Flatirons’ FCM Risk Management system will be fully integrated with Resitrader’s mortgage loan trading platform, enabling clients of both firms to sell their loans through Resitrader’s platform while at the same time hedging their positions instantly. Clients of Flatirons can instantly offer their available loans for sale to investors bidding through Resitrader’s platform.
FlatIrons Rapid Execution (“FIRE”) Trading System, newly powered by Resitrader, will be available to all clients of Flatirons as well as those not using the firm for hedging and secondary marketing services.
“With bulk packages becoming a more vital method of selling loans, it was important for us to either develop our own system or partner with someone that had the technology already,” said Brent Buckmaster, executive vice president and partner at FCM. “Resitrader not only offers that ability, it has a best-in-class system that fits perfectly with the direction we are moving at FCM. The tools provided by FIRE combined with the integration of Resitrader into our risk management system put us at the head of the class.”
“We’re excited that Flatirons wants to apply technology that makes loan trading more efficient. They really understand what we’re trying to do,” said John Ardy, CEO of Resitrader. “We’re pleased to be part of the excellent customer service that Flatirons provides to their clients every day.”
Flatirons Capital Management, LLC has been in the hedging and interest rate risk management business since 1996. It is the oldest and longest continuously operating advisor in the U.S. mortgage market. For more information about the FIRE Trading System or any of the services offered by Flatirons, please contact Brent Buckmaster at (320) 230-6500, or email@example.com.
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