Investor coverage and pricing tools are helping buyers and sellers prosper
March 28, 2018 – LOS ANGELES, CALIFORNIA – Resitrader Inc., the leading online exchange for whole loan trading in the secondary mortgage market, announced it has topped $10 billion in monthly bid volume, the highest monthly total since the platform was launched in 2015.
Company officials say the number of whole loan bids that the average seller on Resitrader has received increased from 3 to 5 bids per offer in February 2017 to an average of 7.5 bids in February 2018. All major loan types are being traded on Resitrader and all major loan buyers are now using the platform, which provides deep integration for loan origination software, hedging advisors and both Fannie Mae and Freddie Mac for pricing, specified pool pay-ups and commitments.
“Our sellers are very happy with their ability to make the best execution decisions while expanding market relationships,” said Resitrader co-founder and CEO, John Ardy. “Our digital trading platform makes it easier for everyone to communicate in a safe and secure manner.”
“This is still very much a people business,” Ardy added. “Ultimately, Resitrader is a tool that allows our buyers and sellers to manage their relationships.”
The flexibility of the Resitrader platform enables sellers to select bidders and manage investor pools to an effective delivery. Sellers can also access internal models in comparison to the bulk market and agency delivery. Over 30 aggregators successfully purchased agency-eligible loans on Resitrader during 2017.
Buyers using Resitrader benefit from full access to market pricing data, also known as “color,” but they can also advertise their investment criteria and loan programs by posting an “axe” on the platform. The buyer’s axe serves as a notification to all sellers that the buyer is seeking loans of a particular shape, and the platform makes it easy for a seller to respond within minutes.
“Resitrader has become our primary tool for selling whole loans,” said Viral Shah, Head of Capital Markets and Corporate Finance, for Better Mortgage. “We’ve found the digital loan trading process to be easier and more secure, and increasingly we see more of the industry moving in this direction.”
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.