Resitrader Inc. reports that its online exchange for whole loan trading hit a major milestone in February: More than $10 billion in monthly bid volume.
It was the highest monthly total since the platform was launched in 2015, the firm reports.
The average number of whole loan bids per seller on the platform increased from 3 to 5 per offer during the past year, the company says in a release.
All major loan types are being traded on Resitrader and all major loan buyers are now using the platform, which provides deep integration for loan origination software, hedging advisors and both Fannie Mae and Freddie Mac for pricing, specified pool pay-ups and commitments.
“Our sellers are very happy with their ability to make the best execution decisions while expanding market relationships,” says John Ardy, co-founder and CEO of Resitrader. “Our digital trading platform makes it easier for everyone to communicate in a safe and secure manner.”
“This is still very much a people business,” Ardy adds. “Ultimately, Resitrader is a tool that allows our buyers and sellers to manage their relationships.”