MCT Moves to Secure Sensitive Borrower Data

Nov 07, 2018

Mortgage Capital Trading (MCT) has announced that it is incorporating the company’s patent-pending geocoding technology into its Bid Auction Manager (BAM) whole loan trading platform in order to shield borrower addresses from being shared with non-buying entities throughout the whole loan bidding process.

“Concealing borrower addresses for whole loan bids is the most recent step that MCT is taking to heighten data security while protecting borrowers and lenders,” said Phil Rasori, Chief Operating Officer and Head Trader at MCT. “We estimate that upwards of 90 percent of all secondary marketing transactions expose borrower addresses to non-buying bidders. The only investor that should eventually see the property address is the one that wins the loan. MCT's proprietary BAM Geocoder enables investors to price LMI-CRA incentives without the address.”

While clear contract terms typically govern borrower data usage for the whole loan buyer and seller, they generally fail to address the non-buying bidders, according to a review of MCT’s lender clients. This can be a sensitive area for some parties, in particular for EPO (early pay off) and servicing pre-payments, as refinancing terms do not take into account safeguards for borrower loan data during the bidding process.

“Ensuring that our systems and processes are as secure as possible is always of the highest importance,” said Rasori. “We are confident that this new level of protection will become the standard in the near future, and we’re proud to lead the industry in this direction.”

About the author

NationalMortgageProfessional.com

Link copied

Published

Nov 07, 2018

Operations

MBA Expands CONVERGENCE With New Knowledge Hub For Lenders

iEmergent-powered dashboard gives mortgage professionals local market insights on demographics, affordability, and homeownership trends

The Mortgage Bankers Association's (MBA) CONVERGENCE initiative has expanded with the launch of the CONVERGENCE Knowledge Hub, a new online resource designed to help lenders, nonprofit organizations, housing counselors, real estate professionals, and community leaders expand...

People On The Move

Click n' Close Appoints Merv Govender As Chief Information Officer

Veteran technology executive brings nearly three decades of leadership in banking, gaming, and healthcare to oversee AI, cybersecurity, and technology strategy

Click n' Close has appointed Merv Govender as its new chief information officer, adding a technology executive with nearly three decades of experience leading digital transformation initiatives across banking, gaming, and healthcare.In his new role, Govender will oversee the...

Jul

New Orleans, LA

More from

Industry News

President Trump Cancels 21st Century ROAD To Housing Act

Trump cancels signing the bipartisan housing bill, leaving affordability package in limbo

Industry News

Jun 24, 2026

Commercial, Multifamily Mortgage Debt Tops $5 Trillion In Q1

MBA says outstanding debt grew by $26.3 billion in the first quarter, led by multifamily lending and increased holdings from banks, agencies, and life insurers

Industry News

Jun 18, 2026

Fed Holds Rates Steady, But Outlook Dims For Mortgage Rate Relief

The Federal Reserve left rates unchanged but updated projections show more policymakers expecting additional hikes

Industry News

Jun 18, 2026

Congress Nears Final Vote On 21st Century ROAD to Housing Act

Senate voted 87-8 to advance House-amended package, with final votes expected in coming days

Industry News

Jun 17, 2026

Florida Pending Sales Signal Strong Summer Housing Market

Closed sales rise for a ninth straight month as inventory gives buyers more negotiating power