Vice Capital Markets, a mortgage hedge advisory firm for independent lenders, banks and credit unions, says it is one of the first Freddie Mac-integrated secondary market advisors (SMAs) to release an integration for Freddie Mac’s Cash Settlement Purchase Statement application programming interface (API).
The API simplifies the funding reconciliation process by providing direct access to cash purchase statement data for the loans sold to Freddie Mac, enabling lenders to quickly review and export purchase advice information.
“With the new Cash Settlement Purchase Statement API, Vice Capital provides our Freddie Mac-approved clients with streamlined access to cash purchase statement data, including funding details and loan-level credit fees,” says Troy Baars, president of Vice Capital, in a release. “As a long-time integrated SMA, we deeply value our relationship with Freddie Mac and applaud them for continuously innovating to meet lenders’ unique and varied secondary and capital markets needs.”
Using the Cash Settlement Purchase Statement API, Vice Capital clients can access the full contract and loan level detail of each loan committed on a particular date directly through the Vice Capital client portal, leading to a faster and more accurate reconciliation process.
Photo: Jonny Gios