SAN DIEGO, Calif., Aug. 18, 2022 (SEND2PRESS NEWSWIRE) — MCT’s award-winning capital markets platform, MCTlive!, is the first to integrate with Freddie Mac’s Whole Loan Purchase Advice Seller API. This API connection allows MCT Mark-to-Market and Hedge Accounting Reports to be updated with Freddie Mac purchase data directly, instead of waiting to run reports through a Loan Origination System (LOS).
Image Caption: MCT – Mortgage Capital Trading logo.
By removing manual data entry into the LOS the connection to this API will provide more accurate and timelier ‘Held For Sale’ reporting. The integration also allows MCTlive’s Loan Commitment Tracker to automatically draw down outstanding commitments as loans are purchased by Freddie Mac.
“We really appreciate Freddie Mac on their continued drive to improve the efficiency in which data is communicated back to lenders,” said Paul Yarbrough, Senior Director of MCT’s Client Success Group. “With Freddie’s new Cash Settlement Purchase Statement API, MCT clients are now able to automatically pull in any purchase advice statements posted by Freddie Mac. Subsequently, MCT clients can utilize our state-of-the-art data writeback to update the LOS quicker and more accurately saving the valuable time of critical staff at the lender.”
As a top purchaser of whole loans from the MCT lender client base, integrating with the Freddie Mac Whole Loan Purchase Advice Seller API completes a large step in MCT’s roadmap for automating and independently verifying performance reporting. MCT is in the process of working with many whole loan buyers to automate the delivery of their purchase advices into MCTlive! Please contact MCT today to start the process of automating the delivery of purchase advices for whole loan buyers and sellers.
Founded in 2001, Mortgage Capital Trading, Inc. (MCT) has grown from a boutique mortgage pipeline hedging firm into the industry’s leading provider of fully integrated capital markets services and technology. MCT offers an array of best-in-class services and software covering mortgage pipeline hedging, best execution loan sales, outsourced lock desk solutions, MSR portfolio valuations, business intelligence analytics, mark-to-market services, and an award-winning comprehensive capital markets software platform called MCTlive! MCT supports independent mortgage bankers, depositories, credit unions, warehouse lenders, and correspondent investors of all sizes. Headquartered in San Diego, California, MCT also has offices in Philadelphia, Healdsburg, and San Antonio. MCT is well known for its team of capital markets experts and senior traders who continue to provide the boutique-style hands-on engagement clients love.
For more information, visit https://mct-trading.com/ or call (619) 543-5111.
News Source: Mortgage Capital Trading Inc.