Resitrader Platform Surpasses More Than 100 Financial Institutions
Number of buyers and sellers on online exchange for whole loan trading grows; $20 billion in loans traded on platform
March 14, 2018 – LOS ANGELES, CALIFORNIA – Resitrader Inc., developers of the leading online exchange for whole loan trading in the secondary mortgage market, announced its digital trading platform has 110 financial institutions using it in less than two years since its launch.
Resitrader has handled over $20 billion in agency, government, jumbo and Community Reinvestment Act (CRA) loans since trading began in late 2015. More than 50 buyers are actively trading on Resitrader, giving the platform a full breadth of market coverage that includes all product types and execution. While most early Resitrader participants have been buyers, however, they have been recently eclipsed by sellers, whose numbers continue to grow, company officials said.
“We believe all major buyers or investors in the whole loan market now use Resitrader, from large banks and aggregators to local institutions serving specific regions,” said John Ardy, CEO of Resitrader. “Buyers really like our simple process for opening accounts and the ability to integrate the platform into their existing systems. Meanwhile, our sellers are getting a complete look at what market participants are willing to pay for their loans through our full-pricing surveys, which are helping sellers get the most out of their investor relationships.”
Agency loans and other loan types, including government, jumbo and CRA loans, priced either individually or in pools, are all traded on the Resitrader exchange. The platform is integrated with both Fannie Mae and Freddie Mac so participants can easily and quickly obtain loan-level pricing on conventional loans, including all pay-up options.
“Resitrader has become ‘The Marketplace’ for our whole loan trades because it really streamlines the entire process,” said Rebecca Wentz, MBS Trader at Homeowners Financial Group. “All my investors are there, plus the full integration with Fannie and Freddie makes all loan delivery options available to us.”
Company officials expect continued growth in Resitrader participants. “The secondary market is truly embracing online loan trading,” Ardy said. “Going forward, our focus will be on expanding our current relationships, increasing our seller base, and growing our integrations with hedge advisory firms and other software vendors, which will enhance the value of the platform even more.”
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.