Voxtur Analytics Corp., a North American real estate technology company, has signed an exclusive platform agreement with The Mortgage Collaborative (TMC), an independent cooperative network for the mortgage industry that includes both community banks and non-bank lenders.
Voxtur will make available to more than 250 TMC members its complete digital ecosystem to support the mortgage lifecycle. More specifically, Voxtur’s mortgage asset trading platform, Blue Water, will deliver a software-as-a-service (SaaS) solution to facilitate the purchase and sale of mortgage assets, including first mortgage agency whole loans, mortgage servicing rights, second liens and non-QM mortgages. The Blue Water platform facilitates pricing, trading, reviewing, transferring and funding of mortgage assets and portfolios in the secondary market.
“This is a tremendous opportunity for Voxtur, TMC and its members,” says Gary Yeoman, CEO of Voxtur. “Our mortgage asset trading platform is built to deliver high-volume trading and create efficient liquidity. We have successfully deployed similar platforms and I am confident that TMC and its members will realize value.”
Blue Water’s all-digital trading solution verifies critical loan data, conducts a high-level review of underwriting and investor eligibility and offers real-time exception remediation management to minimize underwriting risk and avoid costly rep and warrant claims. Blue Water’s data transfer application does not use sampling. Instead it verifies every loan file and does so at an attractive price point.
“This is a compelling use case for our members, and I expect that we will see meaningful adoption,” says David Kittle, chairman of TMC. “These have been difficult times for so many of our members and this type of platform will provide tremendous value to support them in driving revenue and solving for liquidity needs at scale.”
The Blue Water-TMC platform is expected to go live within the next few weeks.