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MCT Trading Launches LockCentral Service for Lenders


MCT Trading Inc. (MCT) has announced that it has established an outsourced service, LockCentral, that implements and manages a centralized lock desk for mortgage bankers that offers them a viable alternative to operating an in-house lock desk. LockCentral saves time, ensures pricing accuracy, frees secondary marketing personnel to assume other responsibilities, and brings a number of new efficiencies to secondary marketing departments.

“We established LockCentral specifically for mortgage bankers that want to operate a centralized lock desk without having to incur the expenses of additional full time resources and to also improve on data integrity for our hedging clients,” said Curtis Richins, president of MCT. “Running an efficient lock desk is paramount to a lender’s profitability. However, the successful implementation and effective management of an internal desk can be very involved and time consuming, and not all secondary marketing departments are ready to adopt, implement and efficiently utilize what are generally complicated, onerous locking tools that often fall short of profitability expectations.”

LockCentral is run by a dedicated team of seasoned secondary marketing analysts who reside in multiple MCT offices across the country in different time zones, designed to provide responsive customer service levels to clients. The LockCentral offering also allows lenders to private label their lock desks, enabling secondary staff to work with MCT analysts while eliminating the onus of managing locking tasks so they can focus on other duties. LockCentral’s benefits include:

►Access to a full suite of services at a significant reduction in costs
►Gain lock management and pricing accuracy assurance
►Rapid scalability to handle changes in volume
►Redundant price/margin verifications are provided for all lock requests and updates
►Secondary and hedging training is provided to existing lock desk personnel
►Service is available for both best efforts and mandatory sellers
►Provides secondary loan re-pricing
►Enacts instant auto lock submissions and confirmations
►Detailed tracking and reporting delivers newfound visibility


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