LendingQB and
Mortgage Capital Trading (MCT) have announced an integration between the LendingQB loan origination platform and the new Bid Auction Manager (BAM) technology within the MCTlive! secondary marketing software platform. Combining the two systems will enable mortgage lenders to utilize a pure digital ‘closed loop’ secondary marketing process, drastically reducing time and cost, while improving loan sale profitability.
BAM is a powerful new bid tape management technology designed by MCT Chief Operating Officer and industry veteran, Phil Rasori. BAM migrates the bidding and selling of loans to investors out of unsecure emails and into a convenient platform, eliminating the time and effort needed to manually collect, analyze, and commit loan sale executions.
"BAM provides a better way for lenders to manage their bid tapes and achieve best execution,” said Tom Farmer, Managing Director at MCT. “The secure bidding portal lets investors communicate instantly with lenders, completely eliminating exporting and emailing of bid tape spreadsheets. Using BAM, secondary can easily solicit bids from every single investor they work with, increasing the opportunity to sell loans at a better price.”
David Colwell, Vice President of Strategy at LendingQB, said, "LendingQB and MCT are changing the way that secondary marketing is done. We now have the ability to manage a 'closed loop' secondary marketing process: originate, price, lock, execute trades and then store the commitment in an entirely digital fashion. Lenders and investors are able to communicate and respond to each other quickly and accurately. This is the future of secondary marketing."
