Investors can now price in real-time
RoindPoint Mortgage Servicing and Compass Analytics have launched a new API that offers cash flow-based, loan-level servicing releasing premiums (SRP) on co-issue bids.
“The new live SRP quoting integration is an exciting leap in automating the best execution experience for the co-issue workflow,” said Compass Analytics Product Manager Mike Duncan. “It’s a win for both the investor, who now has more opportunity to price more granularly and in real-time, and for the seller, who now has a simplified workflow and one that does not require managing complicated pricing grids.”
Compass Analytics added an automated loan-level SRP co-issue bids to its library of APIs and bid automation. The company said this is in line with its mission to enhance the accuracy of MSR pricing and duration, as well as extend integrations into capital markets.
RoundPoint will private-label Compass Analytics’ API and bid-automation offerings to integrate and automate its co-issue bids and commitments to the industry, according to MReport’s article.
This would enable lenders to integrate to RoundPoint through their internal systems, hedge advisors, or LOS systems. They could then receive and commit live co-issue SRPs as part of their execution processes. Starting June 10, sellers or their partners will be able to integrate into RoundPoint’s BidStream API.
“By offering SRPs in real time through utilizing the Compass Analytics platform, we are able to inject more certainty into the process, thereby giving clients and prospective clients a way to secure the best price possible for their loans,” said Saket Nigam, vice president capital markets at RoundPoint. “In keeping with our corporate culture of creating innovative mortgage solutions, we are the first co-issue buyer to offer this technology. We’re also excited about the future potential of this tool and applying it to other processes such as boarding loans which could create a more seamless delivery process and speed up closing and funding times.”
