Franklin American Mortgage Correspondent Lending has introduced what it claims is 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 cashflow mismatches without completing burdensome AOT paperwork, Franklin American says in a press release.
“Franklin American Mortgage’s new Hybrid Mandatory program is unique to the industry and will provide our sellers the best of both worlds,” says Patrick Reese, 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.”
Interested sellers should contact their Franklin American regional account manager for program eligibility and details.