Mortgage Capital Trading (MCT), a provider of software for secondary market functions, reports that it has integrated its MCTlive! capital markets technology platform with Freddie Mac’s Selling Advisor, part of its Loan Advisor suite.
The latest addition to MCT’s MCTlive! Rapid Commit, the new integration automates Freddie Mac loan pricing and commitments with intelligent best execution capability via API connection.
MCT claims to be the first vendor to have successfully completed the first commitment via Freddie Mac’s new API technology.
After completing best execution analysis and determining loans to be sold to Freddie Mac, lenders use Rapid Commit functionality, which intelligently completes product selection and delivers commitments for all loans with a single click.
Rapid Commit interfaces bi-directionally with Freddie Mac’s Loan Selling Advisor system in real-time, MCT says.
“We are proud to leverage the system-to-system Pricing and Commitment functionalities within the newly released Freddie Mac APIs,” says Phil Rasori, chief operating officer for MCT, in a release. “This integration is a significant step on our road map for increased technology collaboration with Freddie Mac for the benefit of our mutual lender clients.”
MCT claims its Rapid Commit functionality speeds up the committing process, ensures data integrity, and optimizes best execution for all commitments.
Working within MCTlive!, users leverage Rapid Commit to run initial best execution, confirm Freddie Mac eligibility, and analyze the optimal subset sizes and products to deliver as individual commitments.
