The new integration automates Freddie Mac loan pricing and commitments
Mortgage Capital Trading, a mortgage hedge advisory and secondary marketing software firm, has announced the integration of its MCTlive! software with Freddie Mac for automated loan sale pricing and commitment.
“We are proud to leverage the system-to-system pricing and commitment functionalities within the newly released Freddie Mac APIs,” Mortgage Capital COO Phil Rasori said. “This integration is a significant step on our roadmap for increased technology collaboration with Freddie Mac for the benefit of our mutual lender clients.”
Mortgage Capital said it is the first vendor to have successfully completed the first commitment via -Freddie Mac’s new API technology. Through the MCTlive! integrated capital markets technology platform, Mortgage Capital’s lender clients receive the pricing information seamlessly.
Lenders use the MCT Rapid Commit functionality after completing Best Execution Analysis and determining loans to be sold to Freddie Mac. The functionality completes product selection and delivers commitments for all loans with a single click. The integration features real-time interfacing between MCTlive! Rapid Commit and Freddie Mac’s Loan Selling Advisor system.
