Resitrader Off To Good Start With Whole Loan Trading Platform

Posted by Patrick Barnard on March 17, 2016 No Comments
Categories : Residential Mortgage

Resitrader reports that more than $100 million in mortgage loans were traded on its whole loan platform in February, the first month of live trading.

The firm is off to a robust start, with substantial inventory and increased participation, it says in a press release. It announced the new platform last fall.

“Twelve financial institutions completed 24 trades in February,” reports John Ardy, CEO of Resitrader.

The company’s secure platform enables loan originators, banks, servicers, brokers and financial advisors to exchange data, pricing and loan documents related to residential whole loan mortgages in an easy and efficient format.

The mortgages traded on the Resitrader platform in February included Federal Housing Administration-insured loans and jumbo mortgages, as well as non-qualified mortgage loans, the firm reports.

The company anticipates that more than 1,000 Community Reinvestment Act loans will board for sale on the platform during March, in addition to a substantial number of mixed-performance loan pools within the next 30 to 60 days.

“We’re very proud of the platform and our success so far,” Ardy says. “We’ve proven we can support trading of any product type. The process is easy, and as liquidity continues to grow, we think we can become an important intersection for everyone in the secondary market.”

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