Twelve Financial Institutions Completed $100 Million in Trades
By Jeff Sorg, OnlineEd Blog
(March 15, 2016) – Resitrader, Inc., a Calabasas, California-based provider of whole loan mortgage trade management software, announced that over $100 million of mortgage loans were traded on the company’s whole loan platform in February, the first month of live trading. And trading in March is off to a robust start with substantial inventory and increase participation.
“Twelve financial institutions completed 24 trades in February,” said John Ardy, CEO of Resitrader. The company’s secure platform enables loan originators, banks, servicers, brokers and financial advisors to exchange data, pricing and loan documents related to residential whole loan mortgages in an easy and efficient format.
The mortgages traded on the Resitrader platform in February included FHA-insured loans and jumbo mortgages, as well as non-QM loans, Ardy said. He anticipates that over 1,000 Community Reinvestment Act loans will board for sale on the platform during March as well as a substantial number of mixed-performance loan pools within the next 30 to 60 days.
“We’re very proud of the platform and our success so far,” Ardy said. “We’ve proven we can support trading of any product type. The process is easy, and as liquidity continues to grow, we think we can become an important intersection for everyone in the secondary market.”
For more information about Resitrader, please visit their website at www.resitrader.com.
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Jeff Sorg is a co-founder of OnlineEd®, an online real estate, mortgage broker, and vocational school founded in 1997, where he also serves as Chief Executive Officer, and School Director. Sorg holds vocational and post-secondary school instructor licenses in several states and has authored numerous real estate continuing education and pre-licensing courses and has been awarded the International Distance Education Certification Center’s CDEi Designation for distance education. Memberships include ARELLO (Association of Real Estate License Law Officials), the National Association of REALTORS®, Oregon Association of REALTORS®, and Portland Metro Association of REALTORS®. Awards and service include REALTOR® Emeritus in the National Association, Life Member award in Portland Metro Association and Chairperson of the Oregon Real Estate Forms Committee.
OnlineEd® provides real estate, mortgage broker, insurance, and contractor pre-license, post-license, continuing education, career enhancement, and professional development and designation courses over the Internet.