MAXEX has developed a digital exchange that enables bank and non-bank lenders to trade residential loans with leading institutional investors through a single trusted clearinghouse. By bringing originators and investors in a single exchange, MAXEX increases liquidity, efficiency and transparency in the mortgage secondary market. The company experienced a record year in 2020 despite the severe shortfall in liquidity in the non-agency market that resulted from COVID-19 and achieved more lock volume in the first 11 months of 2020 than it did in the prior three years. MAXEX has now reached $13 billion in non-agency lock volume and its marketplace has grown to 19 institutional investors and more than 150 bank and non-bank lenders.
- Lock volume of more than $4.5 billion between September 1 and November 30, 2020 compared to $2.7 billion in all of 2019
- Onboarded 70 new sellers, including several leading bank and non-bank mortgage lenders
- Reached 55 securitizations including loans sold
- Launched a strategic partnership and technology integration with Ellie Mae