Mortgage Capital Trading, Inc. (MCT®), a leading mortgage hedge advisory and secondary marketing software firm, announced that BSI Financial Services (BSI) has become the latest investor to join BAMCO, MCT’s new marketplace for co-issue loan sales. BAMCO brings co-issue transactions directly into MCT’s whole loan trading platform and improves price transparency by connecting unapproved sellers to live executions from potential buyers.
“We’re very excited about having BSI on BAMCO as we move toward realizing MCT’s vision of every loan being priced to every investor,” said Justin Grant, Senior Director, Head of Investor Services at MCT. “Historically, lenders have had far more whole loan outlets than co-issue outlets – we’re seeking to change that with BAMCO. BSI aids in that goal while bringing their respected process and excellent team.”
Co-issue loan sales, also known as flow-based mortgage servicing rights (MSR) sales, are a three-way transaction involving the sale of loans to one of the agencies with a simultaneous sale of the MSR to a separate third party, such as BSI Financial. BAMCO supports live, flow-based, loan-level MSR pricing, expanding execution options for sellers while creating new client acquisition opportunities for buyers. While co-issue executions via agency integrations have always been and will continue to be included in lenders’ loan sale best execution analysis, BAMCO provides a new section featuring direct co-issue pricing for both approved and unapproved buyers. Co-issue buyers have the choice to deliver standard grid-based co-issue pricing or loan-level bid tape co-issue pricing.
Larry Goldstone, President of BSI Financial Services said, “BSI is pleased to partner with MCT to further enhance the value that they provide to their clients. Co-issue flow servicing is a very powerful component of the loan sale market, and BSI is pleased to be able to provide servicing sale opportunities to BAMCO clients via its participation in all three co-issue platforms, Fannie Mae SMP, Freddie Mac’s CIX and Ginnie Mae PIIT. Co-issue servicing sales greatly simplify the loan sale process directly to the three agencies, thereby simplifying and streamlining the loan sale process. Along with our participation on all three MSR exchanges, BSI stands ready to assist MCT’s clients with setting up and participating in the co-issue market. We have dealt with many small to mid-size originators, and pride ourselves on the technology and client and borrower experience that we bring to this market.”
BAMCO is a new set of executions within BAM Marketplace, the industry’s largest loan exchange which serves MCT’s mortgage lender clients. Those seeking more information should contact MCT.
Founded in 2001, Mortgage Capital Trading, Inc. (MCT) has grown from a boutique mortgage pipeline hedging firm into the industry’s leading provider of fully integrated capital markets services and technology. MCT offers an array of best-in-class services and software covering mortgage pipeline hedging, best execution loan sales, outsourced lock desk solutions, MSR portfolio valuations, business intelligence analytics, mark to market services, and an award-winning comprehensive capital markets software platform called MCTlive! MCT supports independent mortgage bankers, depositories, credit unions, warehouse lenders, and correspondent investors of all sizes. Headquartered in San Diego, California, MCT also has offices in Philadelphia, Healdsburg, and San Antonio. MCT is well known for its team of capital markets experts and senior traders who continue to provide the boutique-style hands-on engagement clients love. For more information, visit https://mct-trading.com/ or call (619) 543-5111.
About BSI Financial Services
Led by a seasoned team of financial industry professionals, BSI Financial Services provides mortgage servicing and special servicing, loan quality control, REO and asset management services, and life-of-loan performance reporting using advanced data analytics tools. Leveraging a 30-year performance track record, BSI Financial offers clients customized solutions using proprietary digital technology such as BSI ASSET360, an advanced form of RegTech. BSI ASSET360 provides daily reporting on loan condition using exception processing that applies 600 business rules across 10,000 loan-level data elements that are updated daily. With BSI ASSET360, clients have real-time visibility into loan status and performance, affording them choice and control. BSI Financial is approved as a servicer by Fannie Mae, Freddie Mac, FHA, VA, the Federal Home Loan Banks and several private investors, and is approved as an issuer by Ginnie Mae. BSI Financial’s business operations are located in Titusville, PA; Irvine, CA; and Irving, TX, where it also maintains its corporate headquarters. For more information, visit www.bsifinancial.com.
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