Mortgage Capital Trading Inc. (MCT)
has announced the release of new online functionality that automates the process of product selection and delivery of loan commitments directly to Fannie Mae for MCT’s lender clients. The new solution, which was developed as part of MCT’s ongoing technology collaboration with Fannie Mae, is called Rapid Commit and resides within MCT’s secondary marketing platform, MCTlive!
Fannie Mae’s Pricing & Execution-Whole Loan (PE-Whole Loan) application provides ease of use, flexibility and certainty for sellers. Rapid Commit functionality retrieves pricing directly into MCTlive!, which, in turn, speeds up the committing process, ensures data integrity and optimizes best execution for all commitments.
“We developed Rapid Commit to make our customers’ entire loan commitment process with Fannie Mae more efficient, providing automated, highly accurate best execution analysis that is instant and robust,” said Phil Rasori, Chief Operating Officer of MCT. “Working within MCTlive!, users leverage Rapid Commit to run initial best execution and determine that the loan meets Fannie Mae selling guidelines, followed by product-specific best execution that intelligently analyzes the optimal subset sizes and products to deliver as individual commitments.”