Originators and broker-dealers can send and receive MBS trade assignments through the new portal
.jpg)
Fintech firm Broadridge Financial Solutions has launched Trade Assignment Portal (TAP), which enables mortgage originators and broker-dealers to enhance their execution of mortgage-backed securities (MBS) trade assignments.
TAP is a centralized, web-based platform that allows originators and broker-dealers to send and receive trade assignments. Firms can also monitor the status of the assignments around the clock.
Broadridge said that originators and broker-dealers testing the platform can expect an improvement in efficiency in the execution of MBS Trade Assignments.
"Broadridge is committed to introducing technology innovations that help our clients further eliminate operational inefficiencies and grow their businesses," said Vijay Mayadas, president of global fixed income and analytics at Broadridge. "TAP is an example of such an innovative platform that streamlines industry workflows across MBS participants. We are excited to work with broker-dealers and mortgage originators, enabling them to grow as we leverage our network value to help clients get ahead of today's challenges and capitalize on tomorrow's opportunities."
"As one of the pioneering mortgage originators, we look forward to working with Broadridge on the newly launched, centralized Trade Assignment Portal," said Stanley Middleman, president and chief executive officer of Freedom Mortgage. "Leveraging Broadridge's network and scale, the platform will also allow us to minimize the time spent on manual trade assignments and better focus on core business functions."
