Business, Free News Articles, Reports and Studies

MCTlive! Lock Volume Indices: September 2022 Data

SAN DIEGO, Calif. -- MCT®, the leader in capital markets software and services supporting more lenders with hedging and pipeline management solutions than any other single provider, is pleased to present the MCTlive! Lock Volume Indices for September 2022. MCT Data represents a balanced cross section of several hundred lenders among retail, correspondent, wholesale, and consumer direct channels.

A broad-based view of the entire market provides a more accurate picture of mortgage originations versus indices that are influenced by mega lenders. The September MCTlive! Lock Volume Indices is broken out by transaction type: purchase, rate/term refinance, and cash out refinance.

September MCTlive! Lock Volume Indices show that year-over-year total lock volume (-48.5 percent) continues to drop, as expected, when compared to the white-hot summer of 2021. However, both the month-over-month rate/term refinance lock figure (up 33.0 percent) and purchase index (up 6.3 percent) increased in September. Total mortgage rate locks by dollar volume decreased 5.4 percent month-over-month in September. Cash out refinances are down 10.7 percent month-over-month and from one year ago volume is down 80.6 percent, while rate/term refinance volume has dropped 92.9 percent from 2021. Please note that loan sizes were up 8.3 percent over the past year, with the average loan amount increasing from $292k to $317k.

It is important to note that MCT's rate lock activity indices are based on actual dollar volume of locked loans, not number of applications. Especially in a tight purchase market, MCT believes its methodology (using actual loans locked vs. applications) is a more reliable metric. There is a higher likelihood of having multiple applications per funded loan, and prequals do not convert at as high of a rate in the current market as has historically been the case - especially when applications are counted at the early stage of entering a property address.

INDEX VALUES TO END SEPTEMBER AS A PERCENTAGE BENCHMARKED TO THE START OF THE MONTH

Category | Month-Over-Month Index Value Change

Total: +5.44%

Purchase: +6.31%

Rate/Term Refinance: +32.98%

Cash Out Refinance: -10.66%

INDEX VALUE CHANGE YEAR-OVER-YEAR

Category | Year-Over-Year Index Value Change

Total: -48.48%

Purchase: -20.5%

Rate/Term Refinance: -92.89%

Cash Out Refinance: -80.56%

MCT will be publishing the MCTlive! Mortgage Lock Volume Indices monthly, intending the data to serve as an enduring informational tool for industry participants, analysts, and watchers.

About MCT:

Founded in 2001, Mortgage Capital Trading, Inc. (MCT)® has grown from a boutique mortgage pipeline hedging firm into the industry's leading provider of fully integrated capital markets services and technology. MCT's offerings include mortgage pipeline hedging, best execution loan sales, business intelligence and analytics, outsourced lock desk solutions, MSR valuation, hedging, and bulk sales, and the world's first, truly open marketplace for loan sales.

MCT supports independent mortgage bankers, depositories, credit unions, warehouse lenders, and correspondent investors of all sizes within its award-winning digital platform, MCTlive!®. Headquartered in sunny San Diego, MCT also has offices in Healdsburg, CA, Philadelphia, PA and Texas.

For more information, visit https://mct-trading.com/.

Related link: https://mct-trading.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Business, Free News Articles, Reports and Studies

MCTlive! Lock Volume Indices: August 2022 Data

SAN DIEGO, Calif. -- MCT®, the leader in capital markets software and services supporting more lenders with hedging and pipeline management solutions than any other single provider, is pleased to present the MCTlive! Lock Volume Indices for August 2022. MCT Data represents a balanced cross section of several hundred lenders among retail, correspondent, wholesale, and consumer direct channels. A broad-based view of the entire market provides a more accurate picture of mortgage originations versus indices that are influenced by mega lenders. The August MCTlive! Lock Volume Indices is broken out by transaction type: purchase, rate/term refinance, and cash out refinance.

August MCTlive! Lock Volume Indices show that year-over-year total lock volume (-53.0 percent) continues to drop, as expected, when compared to the white-hot summer of 2021. After the month-over-month rate/term refinance lock figure increased 11 percent in August due to a slight drop in mortgage rates, the index was down 46 percent in August. Total mortgage rate locks by dollar volume decreased 28.5 percent in August, with purchase locks declining 27.8 percent month-over-month and 23.4 percent from a year ago. Cash-out refinances are down 5.3 percent month-over-month. From one year ago, cash-out refinance volume is down 80.0 percent, while rate/term refinance volume has dropped 95.2 percent. Please note that loan sizes were up 8.3 percent over the past year, with the average loan amount increasing from $291k to $315k.

It is important to note that MCT's rate lock activity indices are based on actual dollar volume of locked loans, not number of applications. Especially in a tight purchase market, MCT believes its methodology (using actual loans locked vs. applications) is a more reliable metric. There is a higher likelihood of having multiple applications per funded loan, and prequals do not convert at as high of a rate in the current market as has historically been the case - especially when applications are counted at the early stage of entering a property address.

INDEX VALUES TO END AUGUST AS A PERCENTAGE BENCHMARKED TO THE START OF THE MONTH

Category | Month-Over-Month Index Value Change

Total: -28.45%

Purchase: -27.82%

Rate/Term Refinance: -28.38%

Cash Out Refinance: -46.01%

INDEX VALUE CHANGE YEAR-OVER-YEAR

Category | Year-Over-Year Index Value Change

Total: -53.02%

Purchase: -23.36%

Rate/Term Refinance: -95.16%

Cash Out Refinance: -79.99%

MCT will be publishing the MCTlive! Mortgage Lock Volume Indices monthly, intending the data to serve as an enduring informational tool for industry participants, analysts, and watchers.

About MCT:

Founded in 2001, Mortgage Capital Trading, Inc. (MCT) ® has grown from a boutique mortgage pipeline hedging firm into the industry's leading provider of fully integrated capital markets services and technology. MCT's offerings include mortgage pipeline hedging, best execution loan sales, business intelligence and analytics, outsourced lock desk solutions, MSR valuation, hedging, and bulk sales, and the world's first, truly open marketplace for loan sales. MCT supports independent mortgage bankers, depositories, credit unions, warehouse lenders, and correspondent investors of all sizes within its award-winning digital platform, MCTlive! ®. Headquartered in sunny San Diego, MCT also has offices in Healdsburg, CA, Philadelphia, PA and Texas.

For more information, visit https://mct-trading.com/ or call (619) 543-5111.

Related link: https://mct-trading.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Awards and Honors, Business, Free News Articles

INC. 5000 Ranks MCT® On Its 2022 Fastest Growing Private Companies List For 11th Time

SAN DIEGO, Calif. -- Mortgage Capital Trading, Inc. (MCT®), a leading mortgage hedge advisory and secondary marketing software firm, announced that Inc. 5000 named MCT to its 2022 list of winners for the nation's fastest-growing private companies. MCT ranked number 4713 with three-year sales growth of 90% percent. This is the second year in a row that MCT made Inc. 5000's list and the company's 11th year making the list since its inception.

The companies on the 2022 Inc. 5000 have not only been successful, but have also demonstrated resilience amid supply chain woes, labor shortages, and the ongoing impact of Covid-19. Facebook, Chobani, Under Armour, Microsoft, Patagonia, and many other well-known names gained their first national exposure as honorees on the Inc. 5000.

"MCT is delighted to be recognized, once again, as one of the most successful independent, small, and midsized businesses in America," said Curtis Richins, President and CEO of MCT. "It is our 11th time winning this prestigious award in nearly as many years, and all the credit should be attributed to our dedicated, intelligent, and caring team members who go above-and-beyond each day for our clients. They embody MCT's tag line as 'your trusted capital markets partner.' We are also grateful that mortgage lenders of all sizes and an ever-growing cohort of investors have selected MCT as their secondary partner."

"The accomplishment of building one of the fastest-growing companies in the U.S., in light of recent economic roadblocks, cannot be overstated," says Scott Omelianuk, editor-in-chief of Inc. "We're thrilled to honor the companies that have established themselves through innovation, hard work, and rising to the challenges of today."

Not only have the companies on the 2022 Inc. 5000 been highly competitive within their respective markets, but this year's list also proved especially resilient and flexible given the unprecedented challenges these past few years. Among the 5,000 companies honored in 2022, the average median three-year growth rate was 230%, and the total revenue was $317.6 billion. Together, those companies added more than 1,179,282 jobs over the past three years.

About MCT:

Founded in 2001, Mortgage Capital Trading, Inc. (MCT) has grown from a boutique mortgage pipeline hedging firm into the industry's leading provider of fully integrated capital markets services and technology. MCT offers an array of best-in-class services and software covering mortgage pipeline hedging, best execution loan sales, outsourced lock desk solutions, MSR portfolio valuations, business intelligence analytics, mark to market services, and an award-winning comprehensive capital markets software platform called MCTlive! MCT supports independent mortgage bankers, depositories, credit unions, warehouse lenders, and correspondent investors of all sizes.

Headquartered in San Diego, California, MCT also has offices in Philadelphia, Healdsburg, and San Antonio. MCT is well known for its team of capital markets experts and senior traders who continue to provide the boutique-style hands-on engagement clients love.

For more information, visit https://mct-trading.com/ or call (619) 543-5111.

Inc. 5000 Methodology:

Companies on the 2022 Inc. 5000 are ranked according to percentage revenue growth from 2018 to 2021. To qualify, companies must have been founded and generating revenue by March 31, 2018. They must be U.S.-based, privately held, for-profit, and independent-not subsidiaries or divisions of other companies-as of December 31, 2021. (Since then, some on the list may have gone public or been acquired.) The minimum revenue required for 2018 is $100,000; the minimum for 2021 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. Growth rates used to determine company rankings were calculated to four decimal places. The top 500 companies on the Inc. 5000 are featured in Inc. magazine's September issue. The entire Inc. 5000 can be found at http://www.inc.com/inc5000.

Related link: https://mct-trading.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Business, Free News Articles, Funding and Investment

TMC Emerging Technology Fund LP Invests in Willow Servicing

SAN DIEGO, Calif. -- The Mortgage Collaborative (TMC), the nation's largest independent cooperative network serving the mortgage industry, announced today that the TMC Emerging Technology Fund LP (the "Fund") recently participated in a $6 million seed round for Willow Servicing. The round was led by Thomvest Ventures, with participation from Global Asset Capital, Webb Investment Network and Zigg Capital.

Willow Servicing was founded in 2021 with the vision of modernizing the core technology that orchestrates the collection of $18 trillion of U.S. mortgage debt. Willow's cloud-based mortgage servicing platform automates routine servicing tasks and compliance, allowing small and large servicers to efficiently service loans in-house.

"Partnering with TMC gives us direct access to a broad network of lenders who can provide guidance on the changing dynamics within the mortgage industry and invaluable feedback on our product roadmap and offering," said Laura Cain, CEO of Willow Servicing. "We are eager to continue building out our platform and automate the most error-prone and difficult tasks facing mortgage lenders and servicers. The additional funding will allow us to continue investing in our customers and solving their pain points."

Since launching its platform in Q1 2022, Willow has serviced over $750 million in loans. While initially designed to manage interim servicing, Willow has quickly expanded to support additional loan types and processes, from HELOCs and construction loans to appraisal fees and payoffs.

Feliks Viner, vice president of secondary markets at First World Mortgage and Tech Fund council member, said, "Willow Servicing's platform has been a perfect solution for our interim servicing needs. The entire process, from initial onboarding to managing daily workflow, has been seamless with real-time support and a user-friendly website. Willow has allowed us to effortlessly automate our interim servicing process and provide our customers with timely notifications and simple payment options. We are thrilled for our continued partnership with Willow Servicing."

The Limited Partners of the TMC Emerging Technology Fund consist of some of the most technology-forward lender members of TMC who evaluate and invest in companies looking to advance the mortgage industry. The Fund continues to look for investment opportunities that will result in higher profitability and business process improvement for TMC lender members. For more information, please reach out to tmctechfund@mtgcoop.com. To learn more about Willow Servicing, visit https://www.willowservicing.com/ or reach out at sales@willowservicing.com.

About The Mortgage Collaborative

Based in San Diego, Calif., The Mortgage Collaborative was founded in 2013 by four notable industry leaders and is the nation's largest independent mortgage cooperative network. TMC is singularly focused on creating an environment of collaboration and innovation for small to mid-size mortgage lenders across the country to reduce cost, increase profitability, and better serve the dynamic and changing consumer base in America. For more information, visit http://www.mortgagecollaborative.com/

Related link: https://www.mortgagecollaborative.com

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Business, Free News Articles, Software

MCTlive! Capital Markets Platform Becomes First to Integrate with Freddie Mac’s Whole Loan Purchase Advice Seller API

SAN DIEGO, Calif. -- MCT's award-winning capital markets platform, MCTlive!, is the first to integrate with Freddie Mac's Whole Loan Purchase Advice Seller API. This API connection allows MCT Mark-to-Market and Hedge Accounting Reports to be updated with Freddie Mac purchase data directly, instead of waiting to run reports through a Loan Origination System (LOS).

By removing manual data entry into the LOS the connection to this API will provide more accurate and timelier 'Held For Sale' reporting. The integration also allows MCTlive's Loan Commitment Tracker to automatically draw down outstanding commitments as loans are purchased by Freddie Mac.

"We really appreciate Freddie Mac on their continued drive to improve the efficiency in which data is communicated back to lenders," said Paul Yarbrough, Senior Director of MCT's Client Success Group. "With Freddie's new Cash Settlement Purchase Statement API, MCT clients are now able to automatically pull in any purchase advice statements posted by Freddie Mac. Subsequently, MCT clients can utilize our state-of-the-art data writeback to update the LOS quicker and more accurately saving the valuable time of critical staff at the lender."

As a top purchaser of whole loans from the MCT lender client base, integrating with the Freddie Mac Whole Loan Purchase Advice Seller API completes a large step in MCT's roadmap for automating and independently verifying performance reporting. MCT is in the process of working with many whole loan buyers to automate the delivery of their purchase advices into MCTlive! Please contact MCT today to start the process of automating the delivery of purchase advices for whole loan buyers and sellers.

About MCT:

Founded in 2001, Mortgage Capital Trading, Inc. (MCT) has grown from a boutique mortgage pipeline hedging firm into the industry's leading provider of fully integrated capital markets services and technology. MCT offers an array of best-in-class services and software covering mortgage pipeline hedging, best execution loan sales, outsourced lock desk solutions, MSR portfolio valuations, business intelligence analytics, mark-to-market services, and an award-winning comprehensive capital markets software platform called MCTlive!

MCT supports independent mortgage bankers, depositories, credit unions, warehouse lenders, and correspondent investors of all sizes. Headquartered in San Diego, California, MCT also has offices in Philadelphia, Healdsburg, and San Antonio. MCT is well known for its team of capital markets experts and senior traders who continue to provide the boutique-style hands-on engagement clients love.

For more information, visit https://mct-trading.com/ or call (619) 543-5111.

Related link: https://mct-trading.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Awards and Honors, Business, Free News Articles

Mortgage Women Magazine Names Natalie Arshakian as a 2022 Mortgage Star

SAN DIEGO, Calif. -- Mortgage Capital Trading (MCT®), a leading mortgage hedge advisory and secondary marketing software firm, announced today that National Mortgage Professional's Mortgage Women Magazine selected Natalie Arshakian, Senior Director and Head of Lock Desk Operations at MCT, to its annual 2022 Mortgage Star Awards.

This year's award recognizes 31 women who rise above the rest to do more for their clients, serve as better mentors, and are committed to making the industry more welcoming through both traditional and creative ways. Mortgage Women Magazine selected this year's Mortgage Stars by analyzing each individual's accomplishments, their philosophies, the way they support those around them, and how they inspire others to better themselves.

The class of women listed as 2022's Mortgage Stars shared their personal stories of their successes, experiences, advice, and solutions via the July 2022 Issue of Mortgage Women. Many of them started in entry-level positions and rose to prominent leadership roles, including Natalie Arshakian.

In a conversation with Mortgage Women Magazine, Arshakian shared that she hopes to lead by example, "so that women know that there is a spot for them at the table." Arshakian believes female mentors are critical to success, as they are "living proof that being a successful woman is achievable and that those who are driven should aim high."

Arshakian believes that initiative and self-motivation are the two most significant contributors to her success and encouraged women starting their careers in the mortgage industry to "find someone successful that you admire and ask how they got their start and what they did to become successful." Arshakian further emphasized that the significant change she'd like to see in the mortgage industry is more collaboration among secondary mortgage market leaders, investors, and technology platforms to enhance the user experience and offer more efficient processes industrywide.

Arshakian has over ten years of experience working in financial services and holds a B.A. in Political Science from UCLA. Arshakian's expertise lies in the areas of locking, pricing, data analysis, team leadership, mentoring, pipeline building, internal process creation, risk management, and auditing. Currently, she leads and mentors a team of over 40 analysts who provide services to over 65 clients that lock over $7 billion a month.

About MCT:

Founded in 2001, Mortgage Capital Trading, Inc. (MCT) has grown from a boutique mortgage pipeline hedging firm into the industry's leading provider of fully integrated capital markets services and technology. MCT offers an array of best-in-class services and software covering mortgage pipeline hedging, best execution loan sales, outsourced lock desk solutions, MSR portfolio valuations, business intelligence analytics, mark to market services, and an award-winning comprehensive capital markets software platform called MCTlive!

MCT supports independent mortgage bankers, depositories, credit unions, warehouse lenders, and correspondent investors of all sizes. Headquartered in San Diego, California, MCT also has offices in Philadelphia, Healdsburg, and San Antonio. MCT is well known for its team of capital markets experts and senior traders who continue to provide the boutique-style hands-on engagement clients love. For more information, visit https://mct-trading.com/ or call (619) 543-5111.

About National Mortgage Professional:

National Mortgage Professional focuses exclusively on the mortgage industry. From daily news feeds to specialty newsletters, from magazines to webinars, from in-person events to Facebook Live interactions, National Mortgage Professional dominates the market for mortgage insight. Their publications - NMP, Mortgage Banker and Mortgage Women - have been must-read magazines for decades.

Related link: https://mct-trading.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Awards and Honors, Business, Free News Articles

Mortgage Professional America Magazine Names Natalie Arshakian to List of Elite Women For 2022

SAN DIEGO, Calif. -- Mortgage Capital Trading (MCT®), a leading mortgage hedge advisory and secondary marketing software firm, announced today that Natalie Arshakian has been selected to Mortgage Professional America (MPA) magazine's list of Elite Women in Mortgage for 2022. The annual awards, now in their sixth year, celebrate 67 successful women who are taking on gender inequality in leadership by continuously challenging societal expectations. These women don't let unconscious biases prevent them from breaking the mold as they rewrite the rules and work to make the mortgage industry more inclusive for all people, no matter their gender identity.

Natalie Arshakian, Senior Director of LockCentral at MCT, is an exceptional female leader working in a role that beneficially impacts the mortgage industry. Arshakian started as an entry-level analyst at MCT, and within five years, she was promoted six times to her current position. She has over seven years of experience working in financial services and holds a foundational B.A in Political Science from UCLA. Arshakian's expertise lies in the areas of locking, pricing, data analysis, team leadership, mentoring, pipeline building, internal process creation, risk management and auditing.

Arshakian leads and mentors a team of 35 analysts who provide services to over 65 clients that lock over $7 billion a month. Arshakian's Lock Desk employee training program, commonly called Secondary Boot Camp, has provided a foundation of knowledge that has led to numerous growth opportunities within the secondary mortgage market. Her training and mentorship have enabled dozens of analysts to move from the Lock Desk into Trading, MSR, Programming, and Sales divisions at MCT. She has been instrumental in building the largest outsourced lock desk service provider in the nation.

MPA's Elite Women program is now in its sixth year. Nominators were asked to describe the nominee's standout professional achievements over the past 12 months, along with their contributions to diversity and inclusion in the industry and how they've given back through volunteer roles and charity work. After a thorough review of all the nominations, the MPA team narrowed down the list to the final 67 Elite Women who have made their mark on the industry.

About MCT:

Founded in 2001, Mortgage Capital Trading, Inc. (MCT) has grown from a boutique mortgage pipeline hedging firm into the industry's leading provider of fully integrated capital markets services and technology. MCT offers an array of best-in-class services and software covering mortgage pipeline hedging, best execution loan sales, outsourced lock desk solutions, MSR portfolio valuations, business intelligence analytics, mark to market services, and an award-winning comprehensive capital markets software platform called MCTlive! MCT supports independent mortgage bankers, depositories, credit unions, warehouse lenders, and correspondent investors of all sizes.

Headquartered in San Diego, California, MCT also has offices in Philadelphia, Healdsburg, and San Antonio. MCT is well known for its team of capital markets experts and senior traders who continue to provide the boutique-style hands-on engagement clients love.

For more information, visit https://mct-trading.com/ or call (619) 543-5111.

About Mortgage Professional America:

Mortgage Professional America (MPA) is the mortgage & finance industry's trusted source of news, opinion and analysis. MPA provides a real-time web service that keeps time-poor mortgage & finance professionals up to date with the latest breaking news, cutting-edge opinion, and expert analysis affecting both their business, and their industry as a whole.

RELATED LINKS:

https://mct-trading.com/solutions/mortgage-hedging/

https://www.mpamag.com/us/best-in-mortgage/elite-women-2022/411498

Related link: https://mct-trading.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Business, Free News Articles, Reports and Studies

MCTlive! Lock Volume Indices: July 2022 Data

SAN DIEGO, Calif. -- MCT®, the leader in capital markets software and services supporting more lenders with hedging and pipeline management solutions than any other single provider, is pleased to present the MCTlive! Lock Volume Indices for July 2022. MCT Data represents a balanced cross section of several hundred lenders among retail, correspondent, wholesale, and consumer direct channels.

A broad-based view of the entire market provides a more accurate picture of mortgage originations versus indices that are influenced by mega lenders. The July MCTlive! Lock Volume Indices is broken out by transaction type: purchase, rate/term refinance, and cash out refinance.

July MCTlive! Lock Volume Indices show that year-over-year total lock volume (-46.5 percent) continues to drop, as expected, when compared to the white-hot summer of 2021. However, the month-over-month rate/term refinance lock figure is up 11 percent versus June 2022 due to the recent bond market rally. Total mortgage rate locks by dollar volume decreased 1.5 percent in July, with purchase locks also declining 1.5 percent month-over-month and 8.9 percent from a year ago. Rate/term refinances are down 11.4 percent and cash out refinances are down 5.3 percent month-over-month. From one year ago, cash out refinance volume is down 77.9 percent, while rate/term refinance volume has dropped 94.2 percent. Given rate/term refinance volume was already down 90 percent year-over-year in the June MCTlive! Lock Volume Indices, this month's drop does not change the total much. Please note that loan sizes were up 8.3 percent over the past year, with the average loan amount increasing from $291k to $315k.

It is important to note that MCT's rate lock activity indices are based on actual dollar volume of locked loans, not number of applications. Especially in a tight purchase market, MCT believes its methodology (using actual loans locked vs. applications) is a more reliable metric. There is a higher likelihood of having multiple applications per funded loan, and prequals do not convert at as high of a rate in the current market as has historically been the case - especially when applications are counted at the early stage of entering a property address.

INDEX VALUES TO END JULY AS A PERCENTAGE BENCHMARKED TO THE START OF THE MONTH

Category | Month-Over-Month Index Value Change

Total: -1.50%

Purchase: -1.50%

Rate/Term Refinance: 11.36%

Cash Out Refinance: -5.28%

INDEX VALUE CHANGE YEAR-OVER-YEAR

Category | Year-Over-Year Index Value Change

Total: -46.53%

Purchase: -8.94%

Rate/Term Refinance: -94.17%

Cash Out Refinance: -77.87%

MCT will be publishing the MCTlive! Mortgage Lock Volume Indices monthly, intending the data to serve as an enduring informational tool for industry participants, analysts, and watchers.

About MCT:

Founded in 2001, Mortgage Capital Trading, Inc. (MCT) ® has grown from a boutique mortgage pipeline hedging firm into the industry's leading provider of fully integrated capital markets services and technology. MCT's offerings include mortgage pipeline hedging, best execution loan sales, business intelligence and analytics, outsourced lock desk solutions, MSR valuation, hedging, and bulk sales, and the world's first, truly open marketplace for loan sales. MCT supports independent mortgage bankers, depositories, credit unions, warehouse lenders, and correspondent investors of all sizes within its award-winning digital platform, MCTlive! ®. Headquartered in sunny San Diego, MCT also has offices in Healdsburg, CA, Philadelphia, PA and Texas.

For more information, visit https://mct-trading.com/ or call (619) 543-5111.

Related link: https://mct-trading.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Awards and Honors, Business, Free News Articles

Mortgage Banker Magazine Names Curtis Richins on Legends of Lending List

SAN DIEGO, Calif. -- Mortgage Capital Trading (MCT®), a leading mortgage hedge advisory and secondary marketing software firm, announced that Curtis Richins, President of MCT, has been selected to Mortgage Banker Magazine's inaugural "Legends of Lending" list. The magazine's inaugural class was compiled to highlight the most talented, ambitious, and legendary individuals who are achieving excellence and making a difference in the mortgage industry.

As part of the selection, Mr. Richins was asked to share what he views as his most "legendary" value, which he described as being a "learn-it-all" rather than a know-it-all. "I am constantly seeking input and advice from the people around me to gather all the facts before coming to a decision," he continued. "I value a team-oriented approach rather than an individual one when it comes to matters both at work and in my personal life," stated Richins. This approach is what inspires him to continually seek out new ideas that will push MCT forward.

Mr. Richins was also asked to offer his thoughts on the main problems facing the mortgage industry today and how he hopes to address them, which he identified as bouts of illiquidity and price dislocation that can have a dramatic and negative impact on market participants.

"In response to this market dislocation, MCT created a digital whole loan marketplace to connect buyer and seller regardless of approval status, creating an important new pool of liquidity for sellers," he explained. "Out of the crisis, BAM Marketplace was born and has now become the largest digital whole loan marketplace with more than $1 billion in whole loans auctioned on the platform."

"The mortgage industry continues to make huge strides in automating and digitizing all aspects of the mortgage value change," explained Richins. When asked for his thoughts on the future of the industry, he hopes the same innovation will translate to the secondary market in the coming years. Those interested in learning more about the features and benefits of MCT's award-winning technology, services, and leadership team are encouraged to contact MCT for more information.

About MCT:

Founded in 2001, Mortgage Capital Trading, Inc. (MCT) has grown from a boutique mortgage pipeline hedging firm into the industry's leading provider of fully integrated capital markets services and technology. MCT offers an array of best-in-class services and software covering mortgage pipeline hedging, best execution loan sales, outsourced lock desk solutions, MSR portfolio valuations, business intelligence analytics, mark to market services, and an award-winning comprehensive capital markets software platform called MCTlive! MCT supports independent mortgage bankers, depositories, credit unions, warehouse lenders, and correspondent investors of all sizes.

Headquartered in San Diego, California, MCT also has offices in Philadelphia, Healdsburg, and San Antonio. MCT is well known for its team of capital markets experts and senior traders who continue to provide the boutique-style hands-on engagement clients love.

For more information, visit https://mct-trading.com/ or call (619) 543-5111.

RELATED LINKS:

https://mct-trading.com/bam-marketplace-loan-exchange/

https://nationalmortgageprofessional.com/magazine/mortgage-banker-magazine/legends-lending/digital-edition

Related link: https://mct-trading.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Business, Free News Articles, Reports and Studies

MCTlive! Lock Volume Indices: June 2022 Data

SAN DIEGO, Calif. -- MCT®, the leader in capital markets software and services supporting more lenders with hedging and pipeline management solutions than any other single provider, is pleased to present the MCTlive! Lock Volume Indices for June 2022. MCT Data represents a balanced cross section of several hundred lenders among retail, correspondent, wholesale, and consumer direct channels. A broad-based view of the entire market provides a more accurate picture of mortgage originations versus indices that are influenced by mega lenders. The June MCTlive! Lock Volume Indices is broken out by transaction type: purchase, rate/term refinance, and cash out refinance.

June MCTlive! Lock Volume Indices show that that total mortgage rate locks by dollar volume decreased 3.8 percent in June, and total lock volume is down 32.0 percent from a year ago as purchases continue to make up most originator volume. Purchase locks declined 1.63 percent month-over-month, but a mere 4.6 percent from a year ago. The increase in mortgage rates is also evident as refinance volume continues to fall. Rate/term refinances are down 12.4 percent and cash out refinances are down 18.7 percent month-over-month. From one year ago, cash out refinance volume is down 64.5 percent, while rate/term refinance volume has dropped 90.4 percent. Given rate/term refinance volume was already down 90 percent year-over-year in the May MCTlive! Lock Volume Indices, this month's drop does not change the total much. Please note that loan sizes were up 8.3 percent over the past year, with the average loan amount increasing from $291k to $315k.

It is important to note that MCT's rate lock activity indices are based on actual dollar volume of locked loans, not number of applications. Especially in a tight purchase market, MCT believes its methodology (using actual loans locked vs. applications) is a more reliable metric. There is a higher likelihood of having multiple applications per funded loan, and prequals do not convert at as high of a rate in the current market as has historically been the case - especially when applications are counted at the early stage of entering a property address.

INDEX VALUES TO END MAY AS A PERCENTAGE BENCHMARKED TO THE START OF THE MONTH
Category | Month-Over-Month Index Value Change
Total: -3.83%
Purchase: -1.63%
Rate/Term Refinance: -12.43%
Cash Out Refinance: -18.74%

INDEX VALUE CHANGE YEAR-OVER-YEAR
Category | Year-Over-Year Index Value Change
Total: -32.03%
Purchase: -4.63%
Rate/Term Refinance: -90.39%
Cash Out Refinance: -64.47%

MCT will be publishing the MCTlive! Mortgage Lock Volume Indices monthly, intending the data to serve as an enduring informational tool for industry participants, analysts, and watchers.

About MCT:

Founded in 2001, Mortgage Capital Trading, Inc. (MCT)® has grown from a boutique mortgage pipeline hedging firm into the industry's leading provider of fully integrated capital markets services and technology. MCT's offerings include mortgage pipeline hedging, best execution loan sales, business intelligence and analytics, outsourced lock desk solutions, MSR valuation, hedging, and bulk sales, and the world's first, truly open marketplace for loan sales. MCT supports independent mortgage bankers, depositories, credit unions, warehouse lenders, and correspondent investors of all sizes within its award-winning digital platform, MCTlive!®. Headquartered in sunny San Diego, MCT also has offices in Healdsburg, CA, Philadelphia, PA and Texas.

For more information, visit https://mct-trading.com/ or call (619) 543-5111.

Related link: https://mct-trading.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022