Salient Commercial Solutions released its Appix Mortgage product, an automated system that provides timely data on mortgage-backed securities pools for the to-be announced market.
The company demonstrated the product during the 2013 SIFMA Operations Conference.
The program offers a retrospective on how improvements in operational processes can help ensure the markets operate with minimal risk.
Appix Mortgage automates operations on a 48-hour day cyle and throughout the TBA settlement cycle. As a result, the program increases TBA processing capacity, lowers headcount, helps lower fail costs and provides filters for identifying and retaining pools to maximize portfolio value, the company explained.
"Many of our customers have been looking for solutions for automating their fixed-income operations for some time," said Bill Parker, COO of Salient.
He added, "With the combination of the Appix Mortgage TBA solution and our customized Agile practices, we are able to provide scalable and repeatable process with rapid delivery and a leaner approach to ensure our customers’ visions transforms into working software with a maximum return on their investment."