Mortgage Capital Trading (MCT) announced the appointment of Jennifer Kennelly as the new senior director of its investor services team.
Kennelly’s professional career spans more than 25 years, including roles as national sales executive at LoanCare, capital markets director at Lenders One Mortgage Cooperative, managing director at Compass Analytics and positions at Freddie Mac.
MCT aims to utilize Kennelly’s experience in the mortgage industry and capital markets to grow its Bid Auction Manager Marketplace, an open mortgage loan exchange platform launched in 2020. The marketplace allows buyers to bid regardless of their approval status and sellers receive automated live pricing from every buyer on the platform.
BAM was created to help sellers during the pandemic. Today, it has evolved to help buyers and sellers who are grappling with limited liquidity and slow turn times for pricing.
“Already the only exchange of its kind, we have a great vision of what we know BAM Marketplace can be for buyers and sellers in the secondary market and Jennifer is uniquely qualified in bringing that to fruition,” Justin Grant, senior director and head of investor services at MCT, said in the release.
MCT, which focuses on pipeline hedging, execution loan sales, MSR portfolio valuations, mark to market services, centralized lock desk services and its capital markets software platform called MCTlive!, aims to expand its network of buyers and sellers with Kennelly’s help.
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In its release, MCT says Kennelly’s experience and contacts “will help to further increase the liquidity sellers on MCT’s BAM Marketplace platform have enjoyed both by broadening the scope of traditional buyers as well as sourcing novel buyers.” She will help traditional and nontraditional buyers of whole loans to increase market share and revenue by leveraging MCT’s technology, the company said.
MCT said Kennelly will help investors expand their reach with sellers in a more efficient way, without having to navigate barriers to entry and optimizing execution options.