has announced that its digital trading platform has 110 financial institutions using it in less than two years since its launch. Resitrader has handled more than $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, Chief Executive Officer 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."