Resitrader Inc., an online exchange for whole loan trading in the secondary mortgage market, says it will be providing the Resitrader platform as a private-label product to members of The Mortgage Collaborative (TMC), an independent mortgage cooperative.
The platform, called TMCDirect, will provide TMC members with full access to Resitrader’s trading platform, as well as special incentives and benefits for TMC members. With over $1 billion of loans transacted monthly on the Resitrader platform, TMC members will have the opportunity to connect with other TMC members, as well as with a marketplace of 70+ Resitrader customers, for pricing, buying and selling whole loans.
“Our flexibility in connecting with any hedge advisory service, loan origination system, pricing engine or internal systems allows our users to connect with each other without limiting their technology options,” says John Ardy, CEO of Resitrader. “We are the intersection for buyers, sellers and their important technology partners to create easy, efficient and profitable transactions.”
Resitrader’s whole loan platform enables loan originators, banks, servicers, brokers and financial advisors to exchange loan data, documents and pricing information in order to buy and sell whole loans. The system enables multiple buyers and sellers to offer, bid and transact simultaneously, and includes an easy-to-use trade settlement process, the company says.