Digital platform integration simplifies secondary market execution for pricing options and managing commitments on Fannie Mae loans
Westlake Village, CA – December 11, 2017 – Resitrader Inc., the leading online exchange for whole loan trading in the secondary mortgage market, announced it has completed full integration with Fannie Mae’s Pricing & Execution – Whole Loan® (PE-Whole Loan) application for pricing and committing whole loans. This provides clients with the ability to obtain pricing across all “specified pay-up” options, and then commit and manage commitments for Fannie Mae loans through Resitrader’s digital trading platform.
Resitrader users compare Fannie Mae whole loan pricing directly to bids from banks, aggregators and investors. By adding loan-level price adjustments (LLPAs) and mortgage servicing rights (MSR) values, users create an “all-in bid” on their Fannie Mae delivery option and then compare that pricing directly to servicing released bids from other investors.
Resitrader users have found the integration also helps them simplify the commitment process. “The Resitrader integration with Fannie Mae allows us to price and take down dozens of contracts with Fannie Mae simultaneously,” said Tim Tuz of Wintrust Mortgage, “which reduces risk of market movement, and allows us to allocate loans to Fannie Mae more frequently.”
Resitrader’s Fannie Mae integration helps them compare the best possible Fannie Mae delivery options directly with their investor options at the loan level. “The Resitrader integration with Fannie Mae’s PE Whole Loan system gets the price right and committing loans is easy,” said David Robertson of First United Bank and Trust of Texas. “We’re excited about this new process and plan to continue to deliver our whole loans to Fannie Mae through Resitrader.”