Mortech, a Zillow Group company that provides mortgage technology solutions for mortgage bankers and the secondary market, announced Wednesday that it is partnering with Resitrader to offer real-time pricing data within Resitrader’s whole loan mortgage trade management software.
As a result of the partnership, lenders trading loans on the secondary market can now to manage bids and review their Mortech pricing models in real time before executing trades.
Lenders can also now use Resitrader’s whole loan mortgage trading platform to communicate with buyers and sellers in real-time.
The partnership also allows lenders to exchange loan data while comparing offers from the multiple pricing models available from Mortech and settle transactions in an “easy and efficient format,” the companies said.
John Ardy, CEO of Resitrader, said the partnership is important for the way the secondary market functions now.
“With the rise of mini-bulk transactions and active price negotiation taking such a prominent role in today’s market, integrating pricing engine data makes it easy to create the best execution,” Ardy said. “Our integration with Mortech provides customers with a seamless interface for all the data they need to structure a whole loan trade.”
According to Doug Foral, general manager at Mortech, secondary marketing professionals need “data accuracy and workflow automation” to function successfully. Foral said that’s just what this partnership will bring.
“This system integration streamlines the process of buying and selling whole loans, immediately delivers accurate pricing data for more informed profitability decisions, and provides Mortech clients with the ability to execute trades after a loan has been closed,” Foral added.