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Franklin American Mortgage Correspondent Announces New Hybrid Mandatory Loan Sales

NationalMortgageProfessional.com
Apr 27, 2017
Franklin American Mortgage Company (FAMC) Correspondent Lending has announced the industry’s first mini-bulk execution permitting assignment of trades (AOT)

Franklin American Mortgage Company (FAMC) Correspondent Lending has announced the industry’s first mini-bulk execution permitting assignment of trades (AOT). The new Hybrid Mandatory program employs Compass Analytics’ CompassBid and BidAOT services to streamline mini-bulk bids and AOT processing. Mini-bulk sellers can now receive mini-bulk pricing levels and assign applicable trades on a loan-level basis to eliminate bid-ask spreads, loan sale/pair-off timing, and cash-flow mismatches without completing burdensome AOT paperwork.
 
“Franklin American Mortgage’s new Hybrid Mandatory program is unique to the industry and will provide our sellers the best of both worlds,” said Patrick Reese, FAMC’s senior vice president of Capital Markets. “Mini-bulk sellers love the strong bids and simplified sales process but miss the benefits Assignment of Trade programs provide.”
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